American Well Corp (NYSE: AMWL)

Amwell is a leading enterprise platform and software company that digitally enables hybrid care for health providers, payers, and innovators. The company provides the core technology and services needed to develop and distribute digital care programs that meet strategic, operational, financial and clinical objectives under clients own brands. Founded in 2006 Amwell pioneered virtual healthcare and now offers an open scalable platform that supports in person virtual and automated care modalities. Its technology enables care coordination across settings by integrating video visits remote monitoring and automated care programs into a single workflow. Amwell aims to improve access convenience and clinical outcomes while lowering costs for the healthcare system.

Amwell generates revenue primarily through recurring subscriptions for access to its Amwell Platform. Subscription fees are based on the number of users or volume of visits and provide ongoing access to platform features. Additional revenue comes from related services such as implementation patient and provider engagement Carepoint devices and professional workflow design. The company also offers clinical services on a fee for service basis through its Amwell Medical Group network which supplies licensed clinicians for virtual visits. Professional services include training change management and technical support that help clients adopt and expand digital care solutions. These offerings are sold to health plans health systems employers and government entities.

Amwell competes with telehealth platforms such as Teladoc and Caregility consumer focused players like Included Health and MDLive and large technology firms including Microsoft Amazon and Zoom. It also faces competition from electronic health record vendors such as Epic Oracle Health Allscripts and athenahealth as well as specialized providers in virtual nursing digital patient engagement and digital behavioral health. Amwell differentiates itself by enabling clients to use their own provider networks offering a fully configurable white label platform supporting the full continuum of synchronous asynchronous and automated care and providing open architecture for third party and first party applications. The company’s ability to embed its technology within clients existing electronic health records and patient portals creates a seamless experience that reinforces brand trust. Amwell’s scalable architecture allows rapid deployment of new use cases and supports growth from small pilot programs to enterprise wide rollouts. These strengths position Amwell as a preferred partner for organizations seeking a flexible vendor neutral solution for hybrid care.

As of December 31 2025 Amwell powers the digital care programs of approximately 50 health plans representing more than 90 million covered lives. It also serves about 80 of the nation’s largest health systems. Specific customers include Elevance Health El Camino Health the United Kingdom National Health Service the U. S. Military Health System numerous Blue Cross Blue Shield plans Cleveland Clinic and Hello Heart. The company’s client base spans acute care providers ambulatory clinics employer groups and government agencies across the United States and select international markets. Amwell reports that its solutions are used in urban suburban and rural settings to address access gaps and improve care coordination. The breadth of its relationships with payers and providers enables cross selling of services and supports long term contracts.