Sun. Apr 28th, 2024

I saw this on LinkedIn and thought I would share it:

Amazon’s purchase of One Medical is one of the dumbest purchases in the history of all time … they had 220 clinics and sold for $3.9 Billion with zero proprietary tech, knowledge, or know-how. That is $18 million per office starting from nothing … you could create a proprietary EMR that is better for less than $10 million and with $3.9 Billion you could open 10x the # of clinics. Even if it’s successful (which it won’t be) it’s still a stupid deal.

Corey Amann, MD, MBA

Imagine that?

I actually first predicted this here.

How well would you do with $18 million to start your DPC practice? Probably pretty good.

As far as his EMR assertion, I am not so sure. Maybe you could build a DPC EMR that is great but why would you? Atlas, Hint, and others have done it. And open 10x the number of clinics? Yeah, that would be $1.8 million per office. Most DPCs open theirs up for $50k or less. But the $1.8 million clinics would fail also because the VCs would want 10 times their money back in 3 years. To do that they would dilute the living crap out of the concept and hire only unsupervised nondoctors with minimal staff. Then they would triple the amount of patients. We just saw that here.

I know I need to stop beating this dead horse except the horses keeps kicking. DINOs are not DPC and I will continue to keep pushing back on this.

174000cookie-checkStupid Deals: Amazon, One Medical, and Everyone Like Them
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By Douglas Farrago, MD

Douglas Farrago MD is board certified in the specialty of Family Practice. He is the inventor of a product called the Knee Saver which is currently in the Baseball Hall of Fame. The Knee Saver and its knock-offs are worn by many major league baseball catchers. He is also the inventor of the CryoHelmet used by athletes for head injuries as well as migraine sufferers. From 2001 – 2011, Dr. Farrago was the editor and creator of the Placebo Journal which ran for 10 full years. Described as the Mad Magazine for doctors, he and the Placebo Journal were featured in the Washington Post, US News and World Report, the AP, and the NY Times. Douglas Farrago, MD received his Bachelor of Science from the University of Virginia in 1987, his Masters of Education degree in the area of Exercise Science from the University of Houston in 1990, and his Medical Degree from the University of Texas at Houston in 1994. His residency training occurred way up north at the Eastern Maine Medical Center in Bangor, Maine. In his final year, he was elected Chief Resident by his peers. Dr. Farrago has practiced family medicine for twenty-three years, first in Auburn, Maine and now in Forest, Virginia. He founded Forest Direct Primary Care in 2014, which quickly filled in 18 months. Dr. Farrago still blogs every day on his website Authenticmedicine.com and lectures worldwide about the present crisis in our healthcare system and the effect it has on the doctor-patient relationship. Dr. Farrago’s has written three books on direct primary care: The Official Guide to Starting Your Own Direct Primary Care Practice, The Direct Primary Care Doctor’s Daily Motivational Journal and Slowing the Churn in Direct Primary Care (While Also Keeping Your Sanity) are all best sellers in this genre. He is a leading expert in direct primary care model and lectures medical students, residents, and doctors on how to start their own DPC practice. He retired from clinical medicine in October, 2020.

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