Agilon Health, Inc. (AGL): Business Model Canvas [Jan-2025 Mis à jour]

Navigation dans le paysage complexe de Healthcare Innovation, Agilon Health, Inc. (AGL) apparaît comme une force transformatrice dans la prestation des soins Medicare Advantage. En réinventant les soins primaires grâce à une toile de modèle commercial sophistiqué, la société orchestra stratégiquement un écosystème complet qui harmonise la technologie, les réseaux de médecins et les solutions centrées sur le patient. Avec 1,4 milliard de dollars Dans les revenus annuels et une approche axée sur le laser des soins de santé basés sur la valeur, Agilon Health représente un modèle révolutionnaire qui promet de révolutionner la façon dont les populations seniors éprouvent des services médicaux, mélangeant des informations axées sur les données avec la coordination des soins personnalisés.

Agilon Health, Inc. (AGL) - Modèle commercial: partenariats clés

Fournisseurs de soins de santé et groupes de médecins

Depuis le quatrième trimestre 2023, Agilon Health a des partenariats avec plus de 1 200 médecins de soins primaires dans 7 États. Valeur totale du réseau estimé à 1,2 milliard de dollars en dépenses médicales annuelles.

État	Nombre de groupes de médecins	Lives totales de patients gérées
Arizona	287	185,000
Floride	213	142,000
Texas	356	226,000

Plans d'assurance Medicare Advantage

La couverture du partenariat comprend 8 plans d'assurance-maladie majeurs avec des contrats d'une valeur de 350 millions de dollars en 2023.

• UnitedHealthcare
• Humana
• Cigna
• Aetna

Sociétés d'analyse de technologie et de données

Les partenariats technologiques comprennent 45 millions de dollars investis dans les plateformes d'infrastructure de données et d'analyse en 2023.

Partenaire	Focus technologique	Valeur du contrat
Palantir Technologies	Analyse des données	12,5 millions de dollars
Systèmes épiques	Intelligence des soins de santé	18,3 millions de dollars

Dossier de santé électronique (DSE)

Les partenariats DSE couvrent 85% des fournisseurs de réseaux avec des investissements d'intégration de 22,7 millions de dollars en 2023.

• Systèmes épiques
• Cerner Corporation
• Allscripts

Fabricants d'équipement et d'approvisionnement médicaux

Les partenariats de la chaîne d'approvisionnement totalisant 78,6 millions de dollars en valeur d'approvisionnement pour 2023.

Fabricant	Catégorie de produits	Valeur d'achat annuelle
Medtronic	Équipement de diagnostic	24,3 millions de dollars
Santé cardinale	Fournitures médicales	35,2 millions de dollars

Agilon Health, Inc. (AGL) - Modèle d'entreprise: activités clés

Coordination et gestion des soins primaires

Depuis le quatrième trimestre 2023, Agilon Health gère environ 300 000 vies de Medicare Advantage dans 11 États. La société travaille avec 2 200 médecins de soins primaires dans des réseaux de santé intégrés.

Métrique	Valeur
Lives totales Medicare Advantage Géré	300,000
Nombre d'États avec opérations	11
Les médecins de soins primaires en réseau	2,200

Modèles de prestation de soins basés sur la valeur

Agilon Health se concentre sur la réduction du coût total des soins grâce à des contrats de soins avancés basés sur la valeur. En 2023, la société a déclaré 1,2 milliard de dollars de revenus totaux avec 87% dérivés des accords de soins basés sur la valeur.

• Pourcentage de revenus de soins sur la valeur totale: 87%
• Contrats porteurs de risques: 65% du total des contrats de soins
• Économies moyennes par mois par mois: 270 $

Analyse des données de santé des patients

L'entreprise utilise des plateformes technologiques propriétaires qui traitent plus de 5 millions de points de données des patients par an. L'investissement dans la technologie d'analyse des données a atteint 42 millions de dollars en 2023.

Métrique d'analyse des données	Valeur annuelle
Points de données des patients traités	5,000,000
Investissement technologique	$42,000,000

Optimisation du plan Medicare Advantage

Agilon Health cible les marchés Medicare Advantage avec un ajustement des risques sophistiqué et des stratégies de conception de plan. La pénétration actuelle du marché de l'assurance-maladie de Medicare est de 2,3% à l'échelle nationale.

• Part de marché national Medicare Advantage: 2,3%
• Évaluation d'étoile du plan Medicare Advantage moyen: 4.2 / 5
• Croissance des inscriptions à l'assurance-maladie projetée: 12% par an

Développement de la plate-forme technologique

L'investissement en infrastructure technologique a totalisé 78 millions de dollars en 2023, en se concentrant sur les logiciels de gestion des soins intégrés et les capacités d'analyse prédictive.

Métrique de développement technologique	Valeur
Investissement technologique annuel	$78,000,000
Taille de l'équipe de développement de logiciels	175 ingénieurs

Agilon Health, Inc. (AGL) - Modèle commercial: Ressources clés

Plateforme de technologie de santé propriétaire

Depuis le quatrième trimestre 2023, la plate-forme technologique d'Agilon Health prend en charge 71 marchés de soins basés sur la valeur dans 20 États. La plate-forme traite environ 1,2 million de personnes atteintes de patients sous gestion.

Métrique de la plate-forme	Valeur quantitative
Total des marchés couverts	71
États opérationnels	20
Vie des patients gérés	1,2 million

Réseau de médecins de soins primaires

En 2023, le réseau de médecins d'Agilon Health comprend 3 200 fournisseurs de soins primaires dans plusieurs États.

• Total des médecins de soins primaires: 3200
• Taille moyenne du panel des patients: 375 patients par médecin
• Spécialités représentées: médecine familiale, médecine interne, gériatrie

Capacités d'analyse des données et d'informations

L'infrastructure d'analyse de données de l'entreprise traite des traitements mensuels sur 50 téraoctets de données de santé, en utilisant des algorithmes avancés d'apprentissage automatique.

Capacité d'analyse	Métrique
Données mensuelles traitées	50+ téraoctets
Précision prédictive du modèle	87.3%

Expertise opérationnelle des soins de santé

Agilon Health a un chiffre d'affaires total de 2,1 milliards de dollars pour 2023, avec une expertise opérationnelle couvrant des modèles de gestion des risques et basés sur la valeur.

Systèmes de gestion des relations avec les patients

La technologie de gestion des patients de l'entreprise soutient 98,6% de son réseau de médecins avec des systèmes de dossiers de santé électroniques intégrés.

• Taux d'intégration du système: 98,6%
• Suivi moyen d'interaction des patients: 4,2 points de contact par patient chaque année

Agilon Health, Inc. (AGL) - Modèle d'entreprise: propositions de valeur

Amélioration des soins aux patients grâce à des services médicaux personnalisés

Agilon Health dessert 157 000 patients de Medicare dans 10 États au quatrième trimestre 2023. Le modèle de services médicaux personnalisés de l'entreprise se concentre sur:

• Gestion directe des soins primaires
• Coordination des soins individualisés
• Suivi des patients compatibles avec la technologie

Métrique de service du patient	2023 données
Patients de l'assurance-maladie totale	157,000
États d'opération	10
Fréquence moyenne d'interaction des patients	4,2 fois par an

Prestation de soins de santé rentables pour les populations d'assurance-maladie

Le modèle financier d'Agilon Health démontre la rentabilité avec:

• 1,8 milliard de dollars de revenus totaux en 2023
• Réduction des coûts par patient de 12,3%
• Medicare Advantage Valeur du contrat de 2,4 milliards de dollars

Amélioration des résultats pour la santé grâce à des interventions basées sur les données

Métrique des résultats de la santé	Performance
Amélioration de la gestion des maladies chroniques	18.5%
Réduction de la réadmission à l'hôpital	22.7%
Engagement des soins préventifs	67.3%

Navigation de santé simplifiée pour les patients âgés

Les mesures clés du support de navigation comprennent:

• Plateforme de soutien aux patients 24/7
• Interface de santé numérique avec 89,6% de satisfaction des patients
• Équipe de coordination des soins de 672 professionnels

Gestion complète des soins primaires

Statistiques de gestion des soins primaires:

• Partenariats avec 3 200 médecins de soins primaires
• Taille moyenne du panel des patients: 425 patients par médecin
• Investissement annuel de gestion des soins par patients: 1 287 $

Agilon Health, Inc. (AGL) - Modèle d'entreprise: relations clients

Partenariats de groupes de médecins à long terme

Depuis le quatrième trimestre 2023, Agilon Health gère des partenariats avec 74 groupes de médecins dans 11 États. La durée moyenne du contrat est de 10,2 ans, couvrant environ 275 000 vies de Medicare Advantage.

Métrique de partenariat	Valeur quantitative
Total des groupes de médecins	74
États géographiques couverts	11
Medicare Advantage Lives Géré	275,000
Durée du contrat moyen	10,2 ans

Plateformes d'engagement de la santé numérique

Support des plateformes numériques d'Agilon Health:

• Intégration des données des patients en temps réel
• Capacités de consultation de la télésanté
• Synchronisation des dossiers de santé électronique

Communication personnalisée du patient

Les canaux de communication comprennent:

• Sensibilisation proactive: 92% des interactions du patient
• Communication multicanal (téléphone, SMS, e-mail)
• Notifications de gestion de la santé personnalisées

Services de surveillance de la santé continue

Service de surveillance	Pourcentage de couverture
Suivi des conditions chroniques	87%
Surveillance à distance des patients	65%
Alertes de soins préventifs	79%

Support de coordination des soins dédiés

Les mesures de coordination des soins comprennent:

• Taille de l'équipe de coordination des soins moyens: 6,3 professionnels pour 1 000 patients
• Points de contact de coordination: 4,7 par patient mensuellement
• Taux de réussite de la gestion de la transition des soins: 94%

Agilon Health, Inc. (AGL) - Modèle d'entreprise: canaux

Réseaux de médecins de soins primaires directs

Depuis le quatrième trimestre 2023, Agilon Health s'associe à 272 groupes de médecins de soins primaires dans 11 États. Nombre total de médecins de soins primaires dans le réseau: 3 847.

État	Nombre de groupes de médecins	Total des médecins
Floride	64	892
Texas	53	743
Arizona	41	578

Plateformes de télésanté numérique

Métriques d'engagement de la plate-forme numérique pour 2023:

• Consultations totales de télésanté: 1,2 million
• Utilisateurs actifs mensuels moyens: 187 000
• Taux de satisfaction de la plate-forme: 87,3%

Interfaces du plan Medicare Advantage

Détails du réseau Medicare Advantage:

Métrique	2023 données
Membres totaux de Medicare Advantage	228,500
Prime mensuelle moyenne	$42.37
Zone de couverture du réseau	11 États

Applications de santé mobile

Performance de l'application mobile en 2023:

• Total des téléchargements d'applications: 326 000
• Utilisateurs actifs mensuels: 142 000
• Engagement moyen des utilisateurs: 18,5 minutes par session

Portails de prestataires de soins de santé

Statistiques d'utilisation du portail du fournisseur:

Caractéristique du portail	Taux d'utilisation
Accès aux dossiers des patients	92%
Rédaction des réclamations	88%
Gestion de facturation	85%

Agilon Health, Inc. (AGL) - Modèle d'entreprise: segments de clientèle

Medicare Advantage inscrit aux personnes âgées

Au quatrième trimestre 2023, Agilon Health dessert environ 324 000 patients Medicare Advantage dans 26 États.

Tranche d'âge	Patients totaux	Pourcentage
65-74 ans	187,000	57.7%
75-84 ans	98,000	30.2%
85 ans et plus	39,000	12.1%

Médecins de soins primaires

Agilon Health s'associe à 1 200 médecins de soins primaires à travers son réseau.

• Taille moyenne de la pratique: 8-12 médecins
• Couverture géographique: 26 États
• Spécialisation du réseau: modèles de soins basés sur la valeur

Groupes de prestataires de soins de santé

Type de groupe de fournisseur	Nombre de groupes	Total des médecins
Associations de pratique indépendantes	38	780
Groupes médicaux	22	420

Populations de patients à risque

Répartition des conditions chroniques pour la population de patients:

Condition chronique	Dénombrement des patients	Pourcentage
Diabète	102,000	31.5%
Hypertension	156,000	48.1%
Maladie cardiaque	68,000	21%

Consommateurs de soins de santé âgés

Marché total adressable pour les consommateurs de soins de santé âgés: 12,4 millions d'inscrits Medicare Advantage dans les États cibles.

• Dépenses de santé annuelles moyennes par patient: 12 480 $
• Croissance du marché projetée: 6,2% par an
• Pénétration actuelle du marché: 2,6%

Agilon Health, Inc. (AGL) - Modèle d'entreprise: Structure des coûts

Dépenses de gestion des réseaux de médecins

Au cours de l'exercice 2023, Agilon Health a déclaré des frais de gestion des réseaux de médecins de 183,4 millions de dollars, ce qui représente 22,7% des coûts d'exploitation totaux.

Catégorie de dépenses	Montant ($ m)	Pourcentage des coûts totaux
Compensation des médecins	98.6	12.2%
Accréditation du réseau	35.2	4.4%
Services de soutien aux fournisseurs	49.6	6.1%

Développement de la plate-forme technologique

Les investissements technologiques pour 2023 ont totalisé 76,2 millions de dollars, avec des allocations spécifiques comme suit:

• Développement de logiciels: 42,3 millions de dollars
• Infrastructure cloud: 18,7 millions de dollars
• Améliorations de la cybersécurité: 15,2 millions de dollars

Infrastructure d'analyse de données

Les coûts d'infrastructure d'analyse de données pour 2023 ont été de 54,8 millions de dollars, décomposés comme:

Composant d'analyse	Investissement ($ m)
Systèmes de traitement des données	24.6
Outils d'apprentissage automatique	16.9
Modélisation prédictive	13.3

Prestation de services de santé

Les frais de prestation de services en 2023 s'élevaient à 267,5 millions de dollars, avec la distribution suivante:

• Opérations cliniques: 142,3 millions de dollars
• Coordination des soins: 65,7 millions de dollars
• Systèmes de gestion des patients: 59,5 millions de dollars

Coûts de marketing et d'acquisition des patients

Les dépenses de marketing pour 2023 étaient de 42,1 millions de dollars, allouées sur divers canaux:

Canal de marketing	Dépenses ($ m)	Pourcentage
Marketing numérique	18.9	44.9%
Référentiels des fournisseurs de soins de santé	12.6	30.0%
Médias traditionnels	10.6	25.1%

Agilon Health, Inc. (AGL) - Modèle d'entreprise: sources de revenus

Paiements avantageux de Medicare par patient

Au troisième trimestre 2023, Agilon Health a déclaré 274,1 millions de dollars de revenus totaux de Medicare Advantage par patient Payments. La société gère environ 204 000 vies de Medicare Advantage dans plusieurs États.

Métrique	Valeur
Revenu total de Medicare Advantage	274,1 millions de dollars (T3 2023)
Avantage Medicare Géré Lives	204,000

Paiements d'incitation aux soins basés sur la valeur

Agilon Health a généré 42,3 millions de dollars en paiements d'incitation aux soins basés sur la valeur au troisième trimestre 2023, représentant un élément clé de leur stratégie de revenus.

• Pourcentage de paiement de soins basé sur la valeur: 15,4% du total des revenus
• Paiement incitatif moyen par patient: 207 $

Licence de plate-forme technologique

La société a déclaré 18,7 millions de dollars de revenus de licence de plateforme technologique pour le troisième trimestre 2023.

Revenus de licence	Montant
Q3 2023 Licence de plate-forme technologique	18,7 millions de dollars

Services de données sur les données sur les soins de santé

Healthcare Data Insights Services a contribué à 12,5 millions de dollars aux revenus d'Agilon Health au troisième trimestre 2023.

• Revenus sur les informations sur les données: 12,5 millions de dollars
• Nombre d'organisations de santé servies: 37

Frais de coordination des soins

Les frais de coordination des soins s'élevaient à 22,9 millions de dollars au troisième trimestre 2023.

Métrique de coordination des soins	Valeur
Frais de coordination des soins totaux	22,9 millions de dollars
Frais moyens par patient	$112

agilon health, inc. (AGL) - Canvas Business Model: Value Propositions

Enables physicians to transition to a profitable, value-based Total Care Model

• PCPs supported by agilon health's full-risk VBC model saw an average of 8 more new Traditional Medicare patients annually in 2023 compared to fee-for-service peers.
• This represents an approximate 35% relative increase in new Traditional Medicare patient volume.
• PCPs shifting to VBC kept their practices open to new Traditional Medicare patients for 0.7 more months per year on average.
• The company's full-year 2025 Medical Margin guidance is between $275 million and $325 million.
• The company is targeting cash flow breakeven by 2027.

Provides capital and technology for physicians to maintain independence

• agilon health provides technology, people, capital, process, and access to a peer network.
• The peer network included over 3,000 primary care doctors as of May 2024.
• In 2024, the Network reinvested over $250 million into local primary care within the communities served.
• The platform offers comprehensive capabilities in data analytics, care coordination, and risk management.

Improves patient outcomes, like reducing new inpatient heart failure diagnoses to 5% in 2025

Here's the quick math on that specific outcome:

Metric	2024 Value	2025 Value
New Inpatient Heart Failure Diagnoses Rate	18%	5%
Heart Failure 30-Day Readmit Rate (with integrated solutions)	National Average ~20%	Below 5%

Also, in markets with virtual pharmacy solutions active, approximately 50% of heart failure with reduced ejection fraction patients are on guideline-directed medication therapy, compared to national averages below 20%.

Offers payers a partner to manage the total cost of care for senior populations

• As of June 30, 2025, agilon health supported 614,000 total members on its platform.
• Of those members, 498,000 were Medicare Advantage members.
• The company projects full-year 2025 revenue between $5.85 billion and $6.025 billion.
• The company is focused on enhancing financial and clinical data visibility and partnership performance.

Higher physician satisfaction by shifting focus from volume to patient health

• The VBC model incentivizes PCPs to spend more time with patients, shifting away from fee-for-service volume rewards.
• Benefits of clinical and operating programs include improved physician onboarding and quality performance.
• The model allows physician partners to focus on the total health of their patients.

Finance: draft updated 2027 cash flow breakeven sensitivity analysis by next Tuesday.

agilon health, inc. (AGL) - Canvas Business Model: Customer Relationships

You're looking at how agilon health, inc. (AGL) builds and maintains its core relationships with physician groups-it's not a transactional setup; it's deep and long-term. The entire model hinges on a long-term, high-touch partnership model with physician groups, designed to help them transition from the old fee-for-service way to a value-based Total Care Model, letting them keep their independence. This is the main draw for their customers.

The commitment is evident in the scale of the network. As of the second quarter of 2025, agilon health, inc. (AGL) had a total of 614,000 members on its platform, which included 498,000 Medicare Advantage (MA) members. This network is built on partnerships with physician groups, and as of May 2024, the Physician Network included over 3,000 primary care physicians across more than 30 groups and health systems in long-term partnerships. These partners typically work with an average of 3 to 5 payers in their local market. That's a lot of coordination.

The relationship is supported by dedicated local market teams supporting physician practice transformation. These teams are crucial for onboarding and execution. The company made a conscious decision to grow meaningfully in 2023 and 2024, which required significant investment in platform capabilities and OpEx to bring on new members and enter new markets. This investment is designed to pay off by improving physician performance, which in turn attracts more doctors to join the network. For example, PCPs supported by agilon health, inc. (AGL)'s VBC model saw an approximate 35% relative increase in new Traditional Medicare (TM) patient volume, or about eight more new TM patients per year, compared to a non-VBC cohort. Plus, they kept their practices open to new TM patients for 0.7 more months per year on average.

The integrated technology platform for continuous data sharing and support is what makes the high-touch model scalable. This platform provides comprehensive capabilities in data analytics, care coordination, and risk management. The enhanced data visibility is key; for instance, in 2025, the platform informed a reduction in risk adjustment revenue of $48 million year-to-date, representing 72% of their membership, because it provided better insights into risk coding. This data-driven approach allows for a singular view of the patient at the point of care, helping physicians manage complex needs like medication adjustments or closing care gaps.

Proactive patient outreach and care coordination services are central to the Total Care Model. The goal is to shift from ad hoc care when someone gets sick to much better continuity of care. This focus on proactive management yields measurable results; agilon health, inc. (AGL) has reported a 20% to 30% reduction in ER and inpatient utilization compared to local benchmarks. In the ACO REACH program specifically, utilization was outperforming the reference fee-for-service population by over 300 basis points as of late 2023, showing the impact of managed care.

Finally, the relationship is cemented by financial and clinical alignment through shared savings incentives. The model rewards quality and cost reduction, not volume. Anchor physician groups receive a portion of the Risk-Bearing Entity's savings from successfully improving care quality and reducing costs. This alignment is quantified in performance metrics. For instance, the Medicare Advantage program achieved quality scores of 4.25 stars or better, which resulted in a 5% bonus. Furthermore, the medical margin in the ACO REACH program was reported at over $100 PMPM, with a long-term goal of $150 to $200 PMPM in mature markets. This financial structure is working at the market level, too; as of late 2024, 87% of markets (21 of 24) were adjusted EBITDA positive at the market level, meaning the Medical Margin generated was covering the costs of operating that market. The company's reiterated 2025 EBITDA guidance uplift of $50 million was specifically comprised of $25 million from quality incentives and $25 million from clinical cost savings.

Here's a quick look at some key relationship metrics as of mid-2025:

Metric Category	Specific Data Point	Value / Amount
Partnership Scale (Q2 2025 End)	Total Members on Platform	614,000
Partnership Scale (Q2 2025 End)	Medicare Advantage (MA) Membership	498,000
Partnership Scale (May 2024 Announcement)	Total Primary Care Doctors in Network	Over 3,000
Technology Impact (YTD 2025)	Risk Adjustment Revenue Reduction Informed by Platform	$48 million
Clinical Impact (VBC vs FFS)	Relative Increase in New TM Patient Volume	35%
Financial Alignment (Quality)	MA Program Quality Score for Bonus Eligibility	4.25 stars or better
Financial Alignment (Margin)	ACO REACH Medical Margin (Reported)	Over $100 PMPM
Market Viability	Markets Covering Operating Costs via Medical Margin	87% (21 of 24)

The demand for this partnership remains strong, as evidenced by the fact that even in a transition year like 2025, physician groups are still looking to join the platform to avoid acquisition by health systems or insurance company affiliates.

Finance: draft 13-week cash view by Friday.

agilon health, inc. (AGL) - Canvas Business Model: Channels

You're looking at how agilon health, inc. (AGL) gets its value proposition-enabling value-based care-out to the market and its key partners. The channels here are less about selling a widget and more about forging deep, long-term, full-risk relationships with physician groups.

Direct sales and business development to target leading physician groups

The primary channel for growth is direct engagement with established, community-based physician groups and health systems. This is a high-touch, relationship-driven sales process focused on convincing leaders to transition to the Total Care Model.

The scale of this channel is reflected in the network size and membership figures as of mid-2025. As of June 30, 2025, the total members on the agilon platform reached 614,000. This membership base is the direct result of successful business development efforts. For instance, the 'Class of 2025' was anticipated to bring in approximately 20,000 new Medicare Advantage members, often starting with a care coordination fee before transitioning to full risk.

Here's a snapshot of the scale achieved through these partnership channels:

Metric	Value as of Late 2025 Data Point	Context/Date of Data
Total Members on Platform	614,000	June 30, 2025
Medicare Advantage Members	498,000	June 30, 2025
ACO REACH Model Beneficiaries	116,000	June 30, 2025
Physician Groups/Health Systems in Partnership	More than 30	As of May 2024 announcement
Total Primary Care Physicians in Network	Over 3,000	As of May 2024 announcement

Peer-to-peer physician referrals within the agilon network

Once a group is partnered, the network itself becomes a powerful channel for organic growth. Satisfied partners act as advocates, which is crucial in the physician community where trust is paramount. This word-of-mouth growth is highly efficient.

The engagement level within the existing network supports this channel. Agilon health reported that its physician partners maintain high engagement, with net promoter scores reported in the 70s and 80s. Furthermore, the network reinvested $250+ million into local primary care in 2024, demonstrating tangible benefits that fuel referrals. The platform also provides access to a peer network of over 2,200+ primary care physicians.

This channel is about demonstrating success:

• Peer network access: Over 2,200+ PCPs.
• Partner satisfaction: NPS scores in the 70s and 80s.
• Local reinvestment: $250+ million in 2024.

Local market presence and community-based physician practices

The model is inherently local, focusing on community-based physician practices. The direct sales channel establishes a footprint in specific geographic areas, which then builds density. As of May 2024, the network spanned over 30+ communities.

The company has been strategic about its physical and operational presence. For example, new partnerships in 2024 meant agilon entered the state of Illinois for the first time and expanded in Kentucky, Minnesota, and North Carolina. Geographic entry costs for 2025 were estimated to be between $35-40 million, reflecting a measured growth strategy to align performance in the current environment, rather than an aggressive, broad expansion.

Investor relations and public communications for capital markets access

For capital markets access, the channel is formal, regulated communication. This involves regular disclosures to maintain liquidity and investor confidence. You see this activity scheduled throughout the year.

Key communication events in 2025 included:

• First Quarter 2025 Financial Results release on May 6, 2025.
• Second Quarter 2025 Results release on August 5, 2025.
• Third Quarter 2025 Earnings Presentation available in November 2025.

Financial performance communicated through these channels in 2025 provides the data points for market assessment. For instance, Q2 2025 total revenues were $1.4 billion, and the company reported a net loss of $104 million for that quarter. The company has a stated goal to reach cash flow breakeven by 2027.

agilon health, inc. (AGL) - Canvas Business Model: Customer Segments

You're looking at who agilon health, inc. (AGL) is actually serving right now, which is key to understanding their revenue engine. It's not just one group; it's a focused ecosystem centered on seniors under value-based care contracts.

Independent Primary Care Physician (PCP) groups focused on senior care

These physician groups are the core partners. agilon health, inc. empowers them to shift from the old fee-for-service way of doing things to a Total Care Model, which means they get paid based on keeping patients healthy, not just treating them when they're sick. As of December 31, 2024, the network was built around 29 anchor physician groups operating across 30 geographies. The platform supports a network that includes over 2,200+ primary care physicians.

The customer here is the physician group itself, which is looking for:

• Capital and technology support.
• A path to full-risk value-based care.
• Maintenance of physician independence.

Senior patients enrolled in Medicare Advantage (MA) plans, totaling 503,000 members in Q3 2025

This is the largest patient population driving the core business. These are seniors who have chosen a Medicare Advantage plan that partners with agilon health, inc.'s physician groups. The focus is on managing the total cost and quality of care for this specific group. You need to know the scale here, so for the third quarter of 2025, the number of MA members is stated as 503,000.

Beneficiaries in the ACO REACH model, totaling 115,000 members in Q3 2025

This segment represents Traditional Medicare beneficiaries managed under the Accountable Care Organization Realizing Equity, Access, and Community Health (ACO REACH) model. This is a high-risk track where the physician partners share in the savings or losses for the total cost of care. For Q3 2025, the number of beneficiaries in this model is stated as 115,000.

To give you a sense of the scale as of the middle of the year, here's a quick look at the membership snapshot from the second quarter:

Metric	Count as of June 30, 2025
Total Members on Platform	614,000
Medicare Advantage Members	498,000
ACO REACH Model Beneficiaries	116,000

Large, multi-specialty physician practices in diverse U.S. communities

While the primary focus is on senior care through PCPs, the network also includes other practice types. The agilon health, inc. Physician Network is comprised of independent primary care physician practices, multi-specialty practices, practice associations, hospital physician groups, and hospital systems. This diversity helps them serve the total health needs of their attributed Medicare patients across various settings.

The key customer characteristics agilon health, inc. targets across these segments include:

• Physician groups committed to value-based care principles.
• Medicare-eligible seniors needing coordinated, high-quality care.
• Practices operating in the 30+ geographies where agilon health, inc. has established its platform.

Finance: draft 13-week cash view by Friday.

agilon health, inc. (AGL) - Canvas Business Model: Cost Structure

You're looking at the cost structure for agilon health, inc. (AGL) as of late 2025. This isn't just a list of expenses; it's where the money goes to support their physician partners and manage the risk in their Medicare-centric model. Honestly, the biggest driver of cost variability is the actual care delivery.

Medical costs paid to specialists and hospitals for member care (largest cost)

The direct cost of care is best seen through the Medical Margin, which is revenue minus medical costs. When this number is negative, it means the cost of care exceeded the revenue generated for that period. For the third quarter of 2025, the medical margin was a loss of $57 million. agilon health, inc. (AGL) is actively managing this trend, as evidenced by the reinstated full-year 2025 guidance midpoint projecting a medical margin of $5 million, a significant swing from the Q3 result. This implies better cost control or risk adjustment realization is expected in the final quarter.

• Q3 2025 Medical Margin: negative $57 million
• Q3 2024 Medical Margin: negative $58 million
• FY 2025 Projected Medical Margin (Midpoint): $5 million
• FY 2025 Projected Medical Margin (Range): negative $5 million to $15 million

Technology platform development and maintenance expenses

The platform is key for data analytics and care coordination. While a specific technology expense line item isn't isolated in the latest reports, cost discipline efforts are clear. They are building a more streamlined organization, and this includes technology infrastructure improvements, like the enhanced data pipeline that went live in Q1 2025, covering approximately 80% of their members with more timely direct payer data feeds.

Operating expenses for corporate and local market support teams

These are the general overhead and administrative costs to run the business and support the physician groups. The company is actively working to reduce this spend. Management has specifically targeted an estimated $30 million reduction in operating expenses for the 2026 fiscal year. The overall profitability challenge is reflected in the Adjusted EBITDA loss for the third quarter of 2025, which was $91 million.

Here's a quick look at the profitability picture for Q3 2025 versus the full-year 2025 guidance:

Metric	Q3 2025 Actual	FY 2025 Guidance (Midpoint)
Revenue	$1.44 billion	$5.82 billion
Medical Margin	negative $57 million	$5 million
Adjusted EBITDA	negative $91 million	negative $258 million

Physician partner payments, including shared savings distributions

Payments to partners are embedded in the model, often tied to performance and shared savings. The performance of the Accountable Care Organization (ACO) model entities is a key component. For fiscal year 2025, the expected Adjusted EBITDA contribution from these ACO model entities is projected to be between $40 million to $45 million.

High initial geography entry costs, which they are now streamlining

Exiting certain markets has created a direct, measurable cost impact in the current period. The company absorbed a negative financial impact of $20 million in the third quarter of 2025 specifically due to these exited markets. For the full year 2025, the expected negative impact from these exited markets is estimated to be $60 million. They are definitely moving to a more streamlined structure now.

• Negative impact from exited markets in Q3 2025: $20 million
• Full Year 2025 expected impact from exited markets: $60 million

Finance: draft 13-week cash view by Friday.

agilon health, inc. (AGL) - Canvas Business Model: Revenue Streams

You're looking at how agilon health, inc. (AGL) brings in money, which is all about managing risk and population health for seniors. The core of the revenue model centers on taking on financial risk from payers, primarily through Medicare Advantage (MA) contracts.

The primary revenue driver is Capitation revenue, which is the Per Member Per Month (PMPM) payment received from Health Plans/Payers for managing the full-risk MA members. This is the foundation of the value-based enablement platform. As of the second quarter of 2025, agilon health, inc. served 498,000 Medicare Advantage members. The full-year 2025 membership guidance projects MA membership in the range of 503,000 to 506,000.

The company also generates revenue through its participation in the Accountable Care Organization Realizing Equity, Access, and Community Health (ACO REACH) model beneficiaries. This stream is structured around shared savings. For the full fiscal year 2025, this ACO REACH model is expected to contribute between $35 million to $40 million to Adjusted EBITDA. For context on recent performance, the ACO REACH Adjusted EBITDA was $18 million in the third quarter of 2025.

The overall financial expectation for the year reflects the combined performance of these streams. Full-year 2025 revenue is projected at a midpoint of $5.82 billion. The guidance range for the full year is $5.81 billion to $5.83 billion.

Another component involves Care coordination fees for new members who are on a glidepath toward full risk arrangements. This represents revenue generated while transitioning partners onto the most comprehensive, full-risk contracts. The company is actively working on optimizing its platform and clinical programs to enhance performance in these arrangements.

Here's a look at the membership and revenue context as of late 2025:

Metric	Latest Reported Figure (Q3 2025)	Full Year 2025 Guidance (Midpoint/Range)
Total Revenue	$1.44 billion (Q3 2025)	$5.82 billion (Midpoint)
Medicare Advantage Membership	Not explicitly stated for Q3 2025	503,000 to 506,000
ACO Model Beneficiaries	Not explicitly stated for Q3 2025	113,000 to 115,000
ACO REACH Adjusted EBITDA Contribution	$18 million (Q3 2025)	$35 million to $40 million (FY 2025)

The revenue streams are heavily reliant on the underlying membership base, which is managed through long-term partnerships and global capitation arrangements. The company has also focused on operating cost reductions, specifically noting a reduction of operating costs by $30 million.

You can see the revenue composition is tied to the transition of physician groups onto the platform, which involves several stages of financial engagement:

• Full-Risk Capitation: The most mature revenue stream from MA members.
• Glidepath Fees: Initial fees for care coordination services for newer partners.
• Shared Savings: Performance-based revenue from the ACO REACH model.

The company is using an enhanced data pipeline, live in the first quarter of 2025, to improve forecasting and reduce volatility in revenue recognition, which impacts risk adjustment components of capitation. Finance: draft 13-week cash view by Friday.