San Francisco-based hybrid primary care provider One Medical (Nasdaq: ONEM) is expanding its hybrid primary care behavioral health offerings to attract more payer and employer clients. Its new behavioral health program, Healthy Mind, launched in the first quarter of 2025, aims to enhance One Medical’s value-based care model by integrating mental well-being and resilience into its primary care approach.
Healthy Mind offers a holistic approach by combining traditional primary care visits with cognitive testing, wellness coaching, and therapist support when necessary. This expansion aims to meet the rising demand for mental health support while reinforcing One Medical’s commitment to delivering a full spectrum of care that drives better health outcomes and lower costs. CEO and Chairman Amir Dan Rubin emphasized on the company’s May 4 earnings call that Healthy Mind is a crucial component in transforming the patient experience by embedding behavioral health directly into the primary care framework.
Building on Mindset: One Medical’s Virtual-First Behavioral Health Foundation
Healthy Mind is an evolution of One Medical’s earlier behavioral health initiative, Mindset, which launched in April 2020 as a virtual-first service. Mindset combined coaching, group sessions, and therapy within the primary care model to offer patients accessible mental health support. The success of Mindset set the stage for Healthy Mind, which now enhances those offerings with a more robust, hybrid care approach that bridges virtual and in-person services.
Rubin explained that these programs demonstrate One Medical’s ability to implement a modernized hybrid model of longitudinal primary care that delivers outsized health impacts. Alongside other programs like Impact, which focuses on diabetes and chronic conditions, Healthy Mind reflects One Medical’s broader strategy to provide comprehensive, value-based care solutions that address both physical and behavioral health needs. This is a prime example of hybrid primary care behavioral health in action, combining different care modalities for maximum impact.
Financial Growth and Continued Investment
One Medical’s Q1 2025 financial results reflect strong growth, with revenue reaching $254.1 million — a 109% increase year-over-year and surpassing the Zacks Consensus Estimate of $247.4 million. Despite the revenue surge, the company’s net loss widened 131% to $90.9 million, or 47 cents per share, slightly better than the anticipated 49 cents per share loss. This increased loss is attributed to continued investments in expanding services, infrastructure, and market reach.
The company operates through a membership-based model, offering primary care services via clinics and 24/7 telehealth. Patients can access these services either by paying membership fees directly or through employer-sponsored coverage. One Medical also collaborates with Medicare Advantage plans and the Centers for Medicare & Medicaid Services (CMS), managing the health of senior populations through risk-adjusted, per-member, per-month payments. This multi-faceted approach positions One Medical as a versatile player in the evolving healthcare market, particularly in hybrid primary care behavioral health.
Driving Employer and Payer Engagement with Healthy Mind
One Medical is targeting employers with Healthy Mind by highlighting its potential to boost employee engagement and self-efficacy in managing health. Rubin shared that an unnamed employer who implemented Healthy Mind saw a remarkable 52% increase in health confidence scores among participating employees, indicating the program’s positive impact on mental wellness and resilience.
Rubin stressed that Healthy Mind is not a “single point solution” but an integrated program aligned with primary care objectives. The program supports management of heart health, cholesterol, and behavioral health — providing a comprehensive approach to patient care that emphasizes overall resilience. He underscored the potential cost-saving benefits, saying the company is focused on demonstrating how this hybrid model can reduce the overall cost of care for both employers and payers. This integrated, patient-centered approach showcases the power and promise of hybrid primary care behavioral health.
Behavioral Health Market Trends and Competitive Landscape
The behavioral health market has experienced rapid growth and significant capital investment in recent years, especially during 2020 and 2021. Startups and companies in this space have attracted substantial funding, leading to heightened expectations for quick growth and innovation. Industry experts caution that companies offering narrow, point solutions risk being overshadowed by more comprehensive platforms or becoming attractive targets for mergers and acquisitions.
This trend is especially prominent in the B2B healthcare market, where employers and payers increasingly prefer integrated solutions that can address multiple aspects of patient health in a seamless way. One Medical’s expansion into behavioral health through Healthy Mind and Mindset positions the company well within this competitive landscape, offering a platform that unites primary care, chronic disease management, and mental health support under the umbrella of hybrid primary care behavioral health.
Hybrid Care: Balancing Telehealth and In-Person Services
The pandemic accelerated the adoption of telehealth across behavioral health services, and One Medical has leveraged this trend with its virtual-first Mindset offering. However, healthcare leaders acknowledge that the future lies in hybrid care models, which combine the convenience of telehealth with the personalized benefits of in-person care. One Medical’s strategy reflects this balance by expanding medical office locations while maintaining robust telehealth capabilities.
Patients increasingly expect flexible care options that meet their needs on their terms. By providing integrated behavioral health as part of a hybrid primary care model, One Medical aims to create a “one-stop shop” experience that supports patients’ physical and mental health comprehensively. This approach not only enhances patient satisfaction but also positions One Medical to better compete with companies offering fragmented care services—strengthening its leadership in hybrid primary care behavioral health.
Looking Ahead: One Medical’s Role in Integrated Value-Based Care
One Medical’s Healthy Mind program represents a significant step toward building an integrated, value-based primary care platform that addresses the full spectrum of patient needs. By combining behavioral health with chronic disease management and primary care services, the company aims to deliver superior health outcomes, improved patient engagement, and lower costs — all key priorities for employers, payers, and healthcare systems.
As competition intensifies in the behavioral health and value-based care markets, One Medical’s hybrid model and comprehensive offerings provide a compelling blueprint for the future of primary care. With ongoing investments and a clear focus on integration, One Medical is well positioned to drive innovation and growth in a rapidly evolving healthcare landscape — especially as a leader in hybrid primary care behavioral health.
