98point6

98point6 Technologies has undergone a significant transformation, pivoting from a direct-to-consumer and employer-based virtual care provider to a technology licensor for health systems. Originally founded in 2015 by Robbie Cape, the former CEO of Cozi, a family organizing software company acquired by Time Inc., the company initially aimed to make primary care more accessible and affordable through a text-based platform. The initial business model involved selling subscriptions directly to consumers and employers, offering on-demand access to board-certified physicians for a flat fee. This approach gained considerable traction, especially during the COVID-19 pandemic, leading to a substantial increase in its user base and a valuation that reportedly reached $1.7 billion after a Series E funding round in 2020.

The company's core offering is the 98point6 Technology Platform, a cloud-based software solution designed to power virtual care services. This platform integrates artificial intelligence with automated clinical practice standards to streamline the care process. Key components include a patient-facing mobile application, which can be branded by the client, and a Clinician Console for providers. The system uses an AI-driven patient intake process, including a chatbot, to gather information before the patient interacts with a physician, aiming to make consultations more efficient. For health systems, the platform provides the necessary tools to establish or expand their own virtual care offerings, giving them a technological advantage in a competitive market.

In a strategic shift announced in 2023, 98point6 sold its direct-to-consumer and employer-focused virtual care business to Transcarent, a health and care experience company. Concurrently, the company laid off a significant portion of its workforce, including its physician team, to align with its new focus as a B2B software-as-a-service (SaaS) provider. This pivot allows 98point6 to concentrate on licensing its proprietary technology to hospitals and health systems, enabling them to deliver virtual care under their own brands. The revenue model is now based on licensing fees for its platform, which includes the software, professional services, and ongoing support.

Keywords: virtual care platform, healthcare SaaS, digital health technology, telehealth software, primary care, health systems technology, AI in healthcare, patient engagement, clinician tools, B2B healthcare