Babylon: Meet the Largest Digital-First, Value-Based Care Provider in the United States
Growth, strategic partnerships and acquisitions driving rapid expansion, new U.S. office
PALO ALTO, Calif., and LONDON, May 11, 2021 /PRNewswire/ -- Babylon today announced that its recent strategic partnerships and acquisitions -- combined with significant organic growth -- have made it the leading provider in digital-first value-based care in the United States, delivering quality end-to-end healthcare to nearly 100,000 Americans in some of the country's largest health plans. To support this growth Babylon also announced new U.S. offices in Palo Alto, Calif., to support its U.S. expansion.
"Over the last several months, we've made significant strides in our mission to put accessible, affordable and high quality healthcare in the hands of every person on Earth," said Babylon CEO Dr. Ali Parsa. "Nowhere is that happening faster than in the United States. Innovations in digital-first care are driving the entire industry forward, and Babylon offers a unique combination of technology and medical expertise to put people in charge of their own health and help keep them healthy."
Babylon combines an artificial intelligence powered platform with best-in-class, virtual clinical operations to give patients 24-hour access to information, health monitoring, and clinical professionals -- all from any mobile or internet-connected device. The result is Babylon 360, a re-engineering of healthcare with an aim of providing better outcomes at a lower cost and an orientation toward proactive, preventative care.
Offering both value-based care and traditional virtual health services, Babylon has performed approximately 2 million digital clinical consultations globally since launching in the United States in 2020, with U.S. business alone driving nearly 70 percent of the company's revenue and serving millions of Americans through a variety of 24/7/365 clinical services and the Babylon 360 digital platform.
In April, Babylon announced it had acquired Meritage Medical Network to complement strategic partnerships with Centene and FirstChoice Medical Group, among others. Nearly 100,000 Americans are now directly managed by Babylon through their Babylon 360 platform, and join millions more Medicaid, Medicare and commercial plan participants across the country that benefit from Babylon's portfolio of services. All told, Babylon covers approximately 24 million people around the globe.
To continue its U.S. growth trajectory and more directly access the wealth of medical and technological horsepower in Silicon Valley, Babylon is turning to Palo Alto to host its newest U.S. office, Parsa said.
"The Bay Area offers an unparalleled combination of medical expertise and technical innovation," he said. "We expect to tap those critical resources to more quickly advance the things we offer to our members, providers and the broader healthcare industry both in the United States and around the world."
Over the next 12 months Babylon expects to significantly build its U.S. presence in order to support its already-established 50 state clinical network, as well as further build on its leadership position and early momentum in digital-first value-based care. In addition to its new Palo Alto location, Babylon has offices in Austin, Texas, Denver, New York and Seattle.
Babylon is the leading global, digital-first, value-based care company whose mission is to make high-quality healthcare accessible and affordable for everyone on Earth.
We are re-engineering healthcare, shifting the main focus from sick to preventative care so that patients experience better health and reduced costs. This is achieved by leveraging a highly scalable, digital-first platform combined with high quality, virtual clinical operations to provide all-in-one, personalized healthcare. We endeavor to keep patients at the peak of health and get them back on their feet as quickly as possible, all from their devices, with the aim to promote longer and healthier lives. When sick, Babylon provides assistance to navigate the health system, connecting patients digitally to the right clinician 24/7, at no additional cost.
Founded in 2013, we have since delivered millions of clinical consultations and AI interactions, with ~2m clinical consultations and ~3.9m AI interactions in 2020 alone. We work with governments, health providers and insurers across the globe, and support healthcare facilities from small local practices to large hospitals. For more information, please visit www.babylonhealth.com/us.
About Babylon 360
Babylon is creating a better model of healthcare for everyone. Unlike traditional healthcare providers, Babylon 360 (B360) is digital-first care that's always there -- in sickness and good health. We combine cutting-edge AI-powered technology with human medical expertise to help members stay out of the hospital and in control of their health. Using a combination of our doctors' expertise and data, B360 gives members insights and information about their wellbeing, and allows users to set personalized health goals. B360 then provides patients with actions to help them achieve those goals. To help manage progress, B360 allows members to monitor their health and rewards them for making healthy choices to stay motivated and celebrate their progress. And if there's a problem, B360 gives access to a dedicated Personal Care Team, so patients can get the right care, medication and treatment needed. A dedicated Personal Care Team delivers a clear clinical care plan for treatment and recovery, and then once a patient is back on their feet, the Care Team goes back to helping to monitor their health.
Released May 11, 2021