Oscar Well being introduced a brand new result in its medical group on Thursday. The brand new lead comes as Oscar experiences progress in its virtual-first product, a brand new advantages construction that different insurers have been working to emulate.
Dr. Okiki Louis will assume the function of president of Oscar Medical Group on the finish of April, heading the New York-based startup’s assortment of physician-owned practices, which offer digital pressing care and digital main care companies to its members.
Since its launch earlier this yr, Oscar’s digital main care staff has accomplished greater than 6,300 main care consultations. The startup credit these digital consultations with driving members to fill 80% of their prescription medicines and full greater than 60% of labs ordered. The corporate mentioned members with continual situations have greater adoption charges of its virtual-first plan than wholesome members and that almost all of enrollees who’ve utilized digital main care are older than 36. Moreover, 85% of sufferers mentioned they plan solely to make use of digital care when well being points come up. Oscar presents its virtual-first care in Spanish and English.
“I am wanting forwarding to main OMG and partnering with Oscar to broaden OMG’s digital observe and serve much more members,” Louis mentioned in an announcement. “The pandemic has introduced a bunch of challenges in accessing healthcare, and Oscar has been on the forefront of providing options like digital main care that allow sufferers to proceed accessing care at a value they will afford, and I’m excited to construct upon its success.”
Louis most lately served as vice chairman of medical operations at Concentra, a nationwide community of pressing care services. She accomplished her residency at Johns Hopkins Hospital and acquired her physician of medication diploma from the College of Pennsylvania. She succeeds Dr. Neil Parikh, who was named OMG president in 2019.
The management change follows Oscar Well being’s disappointing efficiency within the public markets, with its preliminary public providing coming in under analyst expectations. Some have credited Oscar’s cash-burn, partly, to its partnership with high-cost suppliers, like Cedars-Sinai Medical Heart.
On the finish of January, the startup counted 529,000 particular person, household, small group and Medicare Benefit members. Along with providing plans to enrollees, Oscar additionally outsources its tech companies to different payers and suppliers, like Cigna.