Accolade is expanding into virtual primary care with the acquisition of PlushCare. Accolade is a Seattle-based company with a sizable presence in Plymouth Meeting that advises patients on how to navigate the healthcare maze, writes Harold Brubaker for The Philadelphia Inquirer.
The company agreed to pay a maximum of $40 million in cash. Furthermore, they agree to pay $340 million in stock for the provider of online primary care. This offers patients the opportunity to see their doctors using a smartphone or computer.
Accolade has traditionally focused on helping employees of larger companies make sense of the medical marketplace. This includes determining whether their insurance covers a particular service. Additionally, they help patients decipher a bill. They also keep treatments on track for a chronic illness.
One of their clients is Temple University Health System. They’ve said the service helped keep healthcare costs of its employees flat to slightly negative in the past five years.
With this latest acquisition, Accolade has shifted from being an advisor to a provider.
According to Accolade’s chief executive Rajeev Singh, primary care fits perfectly with the company’s current services.
He said that long-term data Accolade keeps on individuals “give us the opportunity to super-charge” how doctors treat patients.
Read more about Accolade and PlushCare in The Philadelphia Inquirer.