agilon health, inc.

agilon health transforms healthcare by empowering primary care physicians (PCPs) to drive change in their communities. The company's model provides infrastructure and a payment model to PCPs, leveraging their patient-physician relationships to improve quality, cost, and patient experience. agilon health combines its agilon platform with a long-term partnership model with existing physician groups and a network of physicians to serve seniors across the United States. The company's purpose-built model offers capabilities, capital, and a business model for existing physician groups to create a Medicare-centric, globally capitated line of business. This model primarily involves forming risk-bearing entities (RBEs) in local geographies. These RBEs enter into global capitation arrangements with payors, receiving monthly payments to manage the total healthcare needs of attributed patients. The RBEs also contract with agilon health for certain functions and enter into long-term professional service agreements with anchor physician groups. Under these agreements, anchor physician groups receive a base compensation rate and share in savings from improving quality of care and reducing costs. agilon health was formed in 2016, establishing its first partnership with an anchor physician group in 2017. As of December 31, 2025, the company has grown to 28 anchor physician groups across 30 geographies. As of the same date, PCPs on the platform serve approximately 511,000 MA members and 114,000 Medicare fee-for-service (FFS) beneficiaries through nine Accountable Care Organizations (ACOs). This is achieved through participation in the Centers for Medicare & Medicaid Services' (CMS) Accountable Care Organization Realizing Equity, Access, and Community Health (ACO REACH) Model and Medicare Shared Savings Program (MSSP) via its equity method investments.