American Well (AMWL) UBS Global Healthcare Conference summary

Strategic positioning and digital care evolution

• Enables payers to offer members a unified digital care experience, improving ROI and access to a broad range of programs.

• Reduces customer acquisition costs for clinical program vendors by integrating multiple programs into a single platform.

• Supports providers in expanding digital engagement, increasing patient retention and market reach.

• Acts as the digital glue connecting payers, providers, and point solutions, facilitating whole-person care.

• Ongoing investment in consumer experience, data structure, care orchestration, and EHR integration remains a priority.

Market trends and business model transformation

• Shift from fee-for-service to risk-based, value-driven models is accelerating, expected to dominate within 3-5 years.

• Digital enablement infrastructure is essential for providers to participate effectively in risk-based care.

• Most relationships are still fee-for-service, but a clear trend toward value-based models is evident.

• The company has invested over $1 billion in building its digital infrastructure over two decades.

Financial strategy and revenue quality

• Focus on growing subscription revenue, which is expected to become the majority of consolidated revenue.

• Every investment is now evaluated for return, with funding only for initiatives that can validate ROI.

• Subscription revenues are immediately profitable in their first year.

• Emphasis on quality of revenue and reducing cash burn, with a goal of reaching cash flow positive in 2026.

• New leadership expresses increased confidence in achieving break-even by 2026 after a month of internal review.