Ro, a 3-year-old online health provider, claims $1.5 billion valuation with $250 million in annual sales
Ro wants to build the "Shopify for health care," beginning by catering to patients without insurance who want to pay for health care without an in-person doctor's visit.The company says it's generating $250 million in revenue per year and has served 5 million doctor-patient interactions.Ro, an online health start-up, has built a big business by asking consumers to pay cash to help alleviate many of the most common medical complaints without having to visit a doctor in person.
For each of these services, it provides patients with a remote care team. Unlike many telemedicine companies in the space, it focuses on areas of health care where patients are likely to have a repeat need and may need ongoing support, rather than the one-off sinus infections or urinary tract infections. That includes chronic medical conditions, like diabetes and heart disease, which currently afflict nearly half of all Americans.
Although it's not profitable, Ro's rapid revenue growth isn't typical for a health-care start-up. But the company has been able to avoid some of the costly complexities typically associated with health-care businesses, such as forging deals with insurers and other stakeholders in the industry.
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