agilon health, inc.

Agilon Health, Inc. (NYSE: AGL) operates a platform transforming healthcare delivery by empowering primary care physicians to manage total care for Medicare patients through value-based reimbursement models. The company's website is agilonhealth.com.

Agilon's business model centers on three core elements: its proprietary platform, long-term physician partnerships, and a network of community-based providers. The company forms risk-bearing entities in local geographies that enter into global capitation agreements with health plan payors, contracting with anchor physician groups to manage the total healthcare needs of attributed Medicare Advantage and fee-for-service beneficiaries. Rather than the traditional fee-for-service model that incentivizes volume, Agilon's Total Care Model aligns physician compensation with quality improvements and cost management, allowing physicians to share in savings generated through better outcomes and reduced expenses.

As of December 31, 2025, Agilon operates across 30 geographies with 28 anchor physician groups serving approximately 511,000 Medicare Advantage members and 114,000 Medicare fee-for-service beneficiaries through nine Accountable Care Organizations participating in CMS's ACO REACH Model and Medicare Shared Savings Program. The company's proprietary technology platform includes CORE, HCC Manager risk adjustment software, and Minerva clinical data platform, which aggregate and analyze data to support care coordination and operational efficiency.

Agilon maintains contractual relationships with major national health plans and regional insurers, typically under one to three-year agreements renewable upon expiration. The company also contracts with physician partners under long-term professional services agreements, typically spanning twenty years, creating recurring revenue streams through subscription-like per-member per-month arrangements with payors.

The company employs 856 full-time employees and was founded in 2016, establishing its inaugural physician partnership in 2017. Agilon differentiates itself through its focus on existing community-based physician groups rather than building new provider networks, offering integrated technology, operational support, and capital to facilitate the transition to value-based care while preserving physician independence and local autonomy.