Patient-to-Agent Healthcare Wave
blake@blake
−0.2%
since Sep 30
The idea
I believe the first medical conversation is shifting from doctor to AI agent, with clinicians becoming the escalation point rather than the starting point. This basket spreads across the front door patients meet first, the telehealth pipes linking agents to real care, the data layer agents learn from, and the clinical decision point where diagnoses and records actually get made. I favor companies already generating revenue from deployed agents over speculative stories, keep a cash reserve to add on pullbacks, and avoid betting on any single name.
What it owns
- These companies sit where machine judgment enters actual patient care, the exact layer where agents and clinicians interact. · OracleOwns Cerner, one of the two major electronic health record systems where clinical decisions get recorded and acted upon., MicrosoftIts Nuance DAX writes clinical notes during doctor visits with AI, deployed across thousands of clinics and generating revenue today., GE HealthCare TechnologiesHas the largest installed base of medical imaging machines and most FDA-cleared AI devices, already showing AI-driven revenue on equipment., RadNetOperates imaging centers where AI already reads scans with radiologists, with patients paying extra for AI-enhanced interpretation., Evolent HealthUses AI to manage clinical decisions for insurers, determining what care gets approved in the most direct form of agent decision-making.30%
- Whoever manages the first patient conversation controls which agent gets used, and these companies are building that entry point now. · Hims & Hers HealthAlready the first stop for millions of patients avoiding traditional doctor visits, with AI handling more of the initial intake conversation., Oscar HealthBuilt its insurance model around digital and AI routing before human involvement, demonstrating the shift toward agent-first care pathways., Amazon.comOwns One Medical and is deploying AI-assisted primary care to Prime members, creating the largest single funnel toward agent-first medicine., DoximityServes physicians with AI tools that help them absorb and respond to work generated by patient-facing agents.25%
- AI agents need clinical data to train and operate, and these companies get paid regardless of which agent platform wins. · Tempus AISells the clinical and genomic data that medical AI learns from, earning revenue regardless of which agent platform wins adoption., Veeva SystemsRuns the data cloud that life sciences companies use, with AI agents already deployed and collecting fees independent of patient-facing outcomes., IQVIA HoldingsHolds one of the largest health records databases on earth, the raw material agents train on and use for benchmarking., Health CatalystOrganizes hospital data into formats AI agents can use, providing the foundational data work that adoption inside health systems requires.22%
- Agents can triage but cannot treat, so these platforms that connect patients to human clinicians will carry the traffic agents generate. · Teladoc HealthOperates the platform connecting AI triage to real clinicians, serving as the escalation path when agents need human intervention., Privia HealthEquips independent doctors with technology for care that starts digitally, positioning them as the escalation layer for agent-first workflows., American WellSells telehealth infrastructure to hospitals and health systems, the backbone they will use to deploy agent intake.13%
- Cash10%