Physician Enablement Update: The Second Inning

July 15, 2022

Earlier this week, Josh Raskin and team published a 130-page update to their cornerstone thesis calling for the next era of healthcare to be defined by the trend of physician enablement.   Well over a year ago, Josh was very early to identify and detail this trend in physician enablement to the public markets and established himself as a key thought leader in connecting private market investment in the space to public market potential.  A quick summary of the updated work is below.  Additionally, Josh unveiled Nephron’s 2nd annual Physician Enablement Symposium to be held Thursday, September 22nd, 2022.  Josh will again together key practitioners and thought leaders in Physician Enablement to further the discussion on key debates.

For more information on the report and the symposium please email info@nephronresearch.com

Bottom Line: We continue to believe that the next era of healthcare will be defined by the trend of physician enablement whereby companies will be able to benefit from the value created through risk-based contracts.  We remain particularly excited about the ability for physicians, other providers and companies enabling those physicians, to reap the benefits of creating value against a mostly FFS healthcare system.

 Within the report:

  • We update our (bullish) thesis to account for the changes in the market over the past year-plus along with supporting observations
  • Analysis of CVS’ strategic pivot to physician enablement and its relationship to our thesis.
  • Review of potential threats to the growth story
  • Present a financial model to assist in the valuation of these companies and a comprehensive view on the current market.
  • Include an updated market model which sizes the total addressable market by segment
  • Conduct a competitive landscape analysis, where we review financial metrics for all of the public companies
  • As an appendix, we return to a broader definition of physician enablement and explain the factors that are leading to significant growth.