FIRST PRIMARY CARE: Deed Dive Podcast
Beyond being a solid entrant to the DPC (direct primary care space) market, First Primary Care founder, Dr. Geetinder Goyal, and his team are on their way to forming a physician led insurance company that solves for healthcare industry’s terminal illness, the mega-carriers. “Deep Dive″ or uncut version of our video podcast. Drs Jeff Brown and Jeff Cole interview Dr. Goyal, Founder of First Primary Care. First Primary Care (FPC) grew both its membership and its revenue by more than 100% between 2023 and 2024. The vast majority of the 6000 members have onboarded through self-funded employer plans. These plans are comprised of a vertical stack of solutions designed to optimally benefit the patient, the employer, and the physician care team. While many direct primary care (DPC) businesses are emerging, we are not aware of another DPC company has built a full stack health plan that includes a strong primary care base with integrated partners for cash pay specialists and services, a pharmacy benefit manager, TPAs (third party administrators), PPO network access, stop-loss insurance and distribution through brokers who are becoming more of a benefit advisor. With a focus on price transparency, healthcare can become more stream-lined, and value can be measured. The incentives of the FPC physicians are aligned with that of the patient, health and prevention. The original role of insurance is restored to cover catastrophic issues, and not day-to-day needs. Consistent results show a savings of $200K – $300K for a company with 100 employees. First Primary Care accomplishes this with a tiered service line beginning with a solid foundation of primary care. This base layer represents 65% of care and is free to the patient, without copays or other expenses. Generic prescriptions are free. The second level, 25% of care, is Guided Healthcare and demonstrates price transparency and cash pay by the plan for specialists, imaging, outpatient surgery and more. The final 10% is “Guided to Network” care for hospitalizations, ER visits, or catastrophic events. ***** Would this bring value to you, your family or your medical practice? Investable merits of this company? Let’s discuss in the forum. If you are a physician or healthcare professional with an NPI number, you can register for our private forum to join the discussion. Sign up today! https://mergemedical.community.forum/ Timestamps: 03:40 –A STRONG FOUNDATION 06:30 – PRICE TRANSPARENCY 06:45 – TIERED APPROACH 07:28 – SELF-FUNDED EMPLOYERS 08:35 – THE ORIGINAL ROLE OF INSURANCE 11:25 – COST SAVINGS TO EMPLOYERS 15:20 – COST VS VALUE 16:05 – 65% BASE LAYER OF FREE HEALTHCARE 17:45 – GUIDED HEALTHCARE 19:30 – GUIDED TO NETWORK 21:05 – PLAN ADMINISTRATION 24:20 – EMPLOYER’S RISK 26:55 – STOP-LOSS CLAIM FUND SURPLUS 29:55 – WHY NOT REDESIGN INSURANCE? 34:30 – STARTING A PHYSICIAN LED INSURANCE COMPANY 40:50 – THE CHANGING ROLE OF BROKERS 47:18 – TPA (THIRD PARTY ADMINISTRATOR) AS PARTNER 48:55 – PHARMACY SERVICES 54:30 – TEAM 57:25 – RPM (Remote Patient Monitoring) 59:45 – WHO IS YOUR CUSTOMER? 102:15 – GROWTH / NATIONAL FOOTPRINT 103:50 – THE BIG INSURERS: ARE THEY TOO BIG TO FAIL? ***** DISCLAIMER: Merge Medical and the podcast hosts are providing this content for informational and entertainment purposes only and are not broker dealers or registered investment advisors. We are not providing investment or legal advice.
