This post has been updated from an earlier version.
SingleCare has spotted a niche in providing discounted doctor appointments through partnerships with provider networks and healthcare services not offered by health plans for a fee, such as telemedicine, dental and vision care.
In a phone interview CEO Rick Bates said, “When we looked out across the market, most people have insurance, but there are much broader needs. We have tried to put together a comprehensive suite of products that we can bring to the marketplace. Everyone needs medical coverage, but significant administrative challenges are built into the system that can be frustrating for consumers and providers.”
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Bates distinguished itself from the likes of Oscar by noting that while Oscar is managing risk, SingleCare is managing healthcare transactions and trying to drive direct pay customers.
He notes the company sells its services through employers, associations and affinity groups, as well as directly to consumers.
“We go to market as a new benefit company with no administrative expenses. We can offer single care portfolio products through employers and there’s no cost to become a member since transaction fees are built into the rates we publish.”
SingleCare was founded in 2014 and has a presence in Arizona, Washington , D.C., Pennsylvania, Maryland, and Virginia. Through its partnership with American Well, it provides access to telemedicine nationally. It is rolling out a vision care offering in the next five weeks. It expects to offer dental services in the fourth quarter.
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He notes that one of the benefits of its revenue model is that it only charges customers for the services they use. “We are working to simplify the consumer experience to navigate the complexities of the healthcare world.”
Bates believes that the market shifts in healthcare will challenge consumers to be
better shoppers of healthcare and companies like his can give them better tools to navigate the healthcare system.