Against the backdrop of debate on Capitol Hill over extending the ACA Marketplace program and drug price subsidies, UberDoc wants to eliminate the role of payers as the middleman. Instead, it wants to streamline primary and specialty care physician appointments through a platform where patients or self-pay employers can pay out of pocket. In an interview, UberDoc CEO Sean Kearney talked about its approach, plans for 2026 and how companies like UberDoc can make healthcare more affordable.
Price transparency is an important part of the UberDoc product. Patients will see a fixed price before booking and that price will not change. There are no surprise bills and no insurance requirements for appointments. Physician pricing.
“We want to promote a market economy, we really want physicians to have control over the services they provide, and we want patients to be able to understand the cost of the care they receive,” Kearney said.
Kearney clarified that there is a place for insurance in the health care system, but it should be spent where it provides the greatest value. He added that patients should have autonomy over their own health costs and outcomes.
Kearney's healthcare background began with investing in and consulting on health technology companies, as well as serving as CFO at Genomenon and Ruya AI. He also serves as an advisor to Tau Ventures and Upswing Health.
UberDoc launched in 2016 when vascular surgeon Paula Muto discovered a way to streamline the doctor-patient relationship and increase physician job satisfaction by reducing payers. Unlike most companies in the space, most medical appointments supported by UberDoc are in-person. Physicians can get paid quickly and easily, but they can also balance working as a self-insured employer and working directly with consumers.
According to Kearney, the company's mission is to disrupt the insurance-based ecosystem by empowering physicians to drive care based on their training and experience while enabling patients to book the care they need without network constraints.
“If you think about the ecosystem as a whole, today's health care consumers are constrained by an insurance-based framework. As we begin to reimagine how our health care ecosystem works, more people will realize that price transparency and instant access will allow consumers to avoid the burden and hassle of premiums and insurance referrals. This not only benefits consumers, but empowers physicians to deliver health care as they expected when pursuing this career path.”
Kearney said UberDoc balances existing physician physical spaces with a hybrid care model of virtual visits. About a quarter of UberDoc patients choose virtual care. These physical spaces are geographically diverse and located in 44 states. Virtual care fills a gap in areas that lack physicians. Patients can pay by credit card or health savings account.
“We operate without the constraints and barriers of the existing insurance-based health care system,” Kearney said. “Our approach is simple. We generate revenue through appointments on a self-pay transaction basis. Unlike other emerging health platforms, we do not charge patients a subscription or membership fee, so patients only pay for the care they or their loved ones need.”
UberDoc also has additional revenue streams. It has a SaaS revenue model to which some board-certified physicians subscribe, which gives them access to its suite of software tools. Business-to-business contracts are achieved through partnerships with employers and other service providers, with whom UberDoc has revenue share agreements. For the employer segment, companies pay based on a revenue per member/month model and the number of employees using the service.
Kearney claims the breadth of experts it offers is unmatched by other companies. Unlike healthcare providers like Hims and Hers or Ro, UberDoc covers all specialties and is not limited to a subset of healthcare.
Artificial intelligence brings exciting opportunities for UberDoc in some areas. More than 66% of doctors say they will use artificial intelligence in clinical practice by 2024. More than half (57%) of physicians believe that reducing the administrative burden on physician practices is the biggest impact of artificial intelligence, which can reduce costs and improve quality of life for clinicians. UberDoc is developing a product suite and roadmap that will help provide physicians with new tools and features launching in 2026. It will be designed to reduce friction, facilitate onboarding and certification, and help physicians market their practices.
Kearney also sees an opportunity to use artificial intelligence to support patient navigation, helping patients determine the most appropriate doctor for an appointment based on their symptoms and needs. It can also be used to help patients understand their insurance company's out-of-pocket costs based on providers in their area. In this way, UberDoc helps people make the best healthcare decisions for themselves and their families.
“M&A will be a key component of our growth strategy,” Kearney said. “Our platform has proven to be highly versatile, which has generated strong interest from partners across the healthcare ecosystem. We are exploring mergers, acquisitions and strategic collaborations to expand access, enhance our technology, and enhance our value to physicians and patients. At the same time, we are leveraging the public capital markets to drive the next phase of growth.”
UberDoc plans to trade on the Canadian public stock exchange before entering the U.S. over-the-counter market next year.
As the ACA market changes, with premiums rising or subsidies reduced, patients will be incentivized to seek out the more affordable and transparent alternatives offered by UberDoc.
photo: ljubaphoto, Getty Images
