By Amit Chowdhry • Today at 3:41 PM

Nomi Health is a company that is rebuilding healthcare with services and technology solutions that deliver easy access to quality, affordable care. Pulse 2.0 interviewed Nomi CEO Mark Newman to gain a deeper understanding of the company.

Mark Newman’s Background

What is Mark Newman’s background? Newman said:

“Nomi Health really came out of a typical experience we all have with healthcare, usually triggered by a major life event. In my case, it was when my first son was born. My wife and I were in the hospital room, and this very nice person walks in and says, ‘Congratulations on your new baby!’ But she wasn’t a nurse or a doctor—she was from finance. She told us we needed to settle our bill before leaving. It was $4,500 that they’d worked out with our insurance company.”

“So I handed over my payment card, expecting to pay, and she said ‘oh you’re a cash payer I can knock off 30% right now.’”

“As silly as it sounds, that really bothered me. I realized that because I could pay in full at that moment, I got a lower price. It struck me that a lot of what we think are purely healthcare problems might just be good old-fashioned business problems. And if 30% off was possible right then, I began to wonder what is the real price of healthcare and why can’t we rebuild this system so everyone can access that real price of healthcare?”

Favorite Memory

What has been your favorite memory working for the company so far? Newman reflected:

“My favorite memory has to be serving Americans through the pandemic—an event none of us had experienced before. We thought it might last 60 days, but it ended up stretching on for more than three years. During that time, we served over 17 million people nationwide, scaling from just 10 team members to nearly 4,000 at peak. We did whatever it took—testing at massive sites, deploying vehicles and equipment, even running operations overseas.”

“We worked with several states to help reopen schools, businesses, and communities by building trust and offering accessible testing.”

“That whole journey is my favorite memory because we proved that if you’re willing to do the seemingly impossible, you can make a real impact. Along the way, there were moments that made us laugh, cry, and everything in between—exactly what makes building a company so rewarding.”

Core Products

What are the company’s core products and features? Newman explained:

“Think of Nomi Health as an operating system for self-insured employers. We work with self-insured employers, their TPAs, and some governments. The way we see an operating system is that, to deliver healthcare to your population, you need four things. First, analytics to understand your actual spend and how that spend compares—we have about 20 million lives on our analytics solution.

Second, you need a payment system that can pay any provider in America on the same day they deliver care.”

Third, utilizing the insight from the analytics and payments, you can purchase direct access to medical and pharmacy services to cover all your people’s needs.”

“And fourth, we relentlessly remove the usual experiences that bog down our ability to easily use healthcare—with Nomi, you will see access to healthcare with no copays, no deductibles, and no collection hassles.” 

“We deliver all four. And by getting rid of the nonsense around how healthcare is traditionally bought, paid for and accessed; our model ends up being delightful to use and everyone realizes savings that can be as high as up to 50% over the traditional incumbents.”

Challenges Faced

What challenges have Newman and the team faced in building the company? Newman acknowledged:

“When you’re building a business to transform a calcified, incumbent-driven industry: challenges show up daily. Major insurance companies and payers in America aren’t exactly eager to change how healthcare works—so when we bring their customers onto our platform, it raises eyebrows. But then those customers see real savings on their healthcare, which insurers claimed was almost impossible.”

“We’ve had big payers in certain states try to legislate us out of existence, threaten their own customers for switching, block data sharing, and pressure providers not to work with us. What they haven’t realized is that maybe these tactics worked five or ten years ago, but now everyone—providers, health systems, CFOs, CEOs—is fed up and ready for change.”

“Luckily, we’re on the right side of that change. We fight these battles at every level—city, state, county, federal—and keep thriving by delivering exactly what we promise.”

Evolution Of The Company’s Technology

How has the company’s technology evolved since its launch? Newman noted:

“The way our company’s technology has evolved since launching is that we’ve had to continually scale to a level we didn’t anticipate at this stage. Meaning, we thought we might serve thousands or maybe hundreds of people, but ended up supporting almost 20 million lives. We began by handling millions of dollars in payments, and now we’re in the billions. We expected a few million data records, and suddenly it’s almost 20 million. Continually gearing up for massive scale has been both challenging and fun.”

“We’ve also made sure our systems are wildly resilient in terms of how we build it. The second part of that is the constant innovation around AI, new tools, and workflow automation. We look for tasks we can automate, ways to empower our people to be “superhumans,” and opportunities to replace outdated processes with more efficient “agents.” From solving scale issues to improving customer experience to finding the lowest net cost of a drug, we’re always exploring how the latest technology can help us evolve.”

Significant Milestones

What have been some of the company’s most significant milestones? Newman cited:

“The pandemic was a major turning point for Nomi—it became our launchpad, allowing us to serve millions of people. Other significant milestones include our acquisition of Artemis Health in 2021 and CerpassRx in 2023, which helped us unify our analytics, payments, medical, and pharmacy solutions under one platform. In 2024, we obtained our State Bank Trust Charter, enabling us to completely transform how healthcare is financed and paid for.”

“Then, on January 1, 2025, we launched our first full replacement network and brought our first 10,000 lives on board—outpacing what some insurance companies achieve over many years. Following Phil Knight’s philosophy, there’s no such thing as a finish line. We just keep going and building along the way.”

Customer Success Stories

When asking Newman about customer success stories, he highlighted:

“When we look at our customers at Nomi, there are many: the members we serve, the employers we partner with, the partners we empower and the providers we bring into the ecosystem. Each group is a “customer” in its own way, and we strive to treat providers like the heroes they are — caring for members whenever they need it.”

“A great example is in Michigan, where providers were fed up with how local insurance companies treated them. We got rid of all the nonsense, treated them like professionals, and showed them how partnering with us allows them to deliver great care without the usual business headaches. As a result, employers in Michigan who join us see rates anywhere from 15% to 40% lower than what they’d get from traditional insurance companies. That’s a huge shift in healthcare costs for these employers, their workforce, and their families.”

Revenue/Funding

When asking Newman about the company’s funding details, he revealed:

“From the start, we wanted Nomi Health to be profitable early on. We’ve partnered with long-term investors like Melissa Guzy at Arbor Ventures and Matt Christensen from the Rose Park Disruptive Innovation Fund – people who share our vision for disruptive innovation. While many view Nomi as a healthcare company, we’re fundamentally fintech and software, which aligns with the approach Matt and his father, Clayton Christensen, pioneered.”

“We keep profitability front and center because our customers, burned by the first wave of venture-backed health tech, demand stability. By focusing on controlling our destiny, we’ve established a solid business model. Just a few years in, we project over $500 million in revenue in 2025, and we expect to surpass $1 billion soon. It turns out people really like affordable healthcare.”

Total Addressable Market

What total addressable market (TAM) size is the company pursuing? Newman assessed:

“We start with the self-insured employer market, which covers around 100 million lives in the U.S. That alone translates to roughly $1 trillion in annual healthcare spending—a huge opportunity.”

“From there, our next frontier is the broader working-age population and their families, which intersects self-insured healthcare and Medicaid. Over time, we see even more potential in areas like Medicare. Altogether, U.S. healthcare is a $5 trillion market—a colossal space where we aim to help analyze, mobilize, and access care more effectively.”

Differentiation From The Competition

What differentiates the company from its competition? Newman affirmed:

“Nomi is the operating system that everyone can tap into, rather than just layering another point solution on top of a broken system. In the first wave of health tech (what I call “venture 1.0”), companies often did great work on individual issues—like diabetes or mental health—improving access and quality. But they never really solved the fundamental problems with U.S. healthcare.”

“At Nomi, we’re fortunate to build a new operating system from the ground up. We’re multi-product, aiming to address multiple steps in the chain so employers, providers, and members can bring all their healthcare spend into one place. Instead of trying to fit into the old ecosystem, we’re replacing it with a modern, more efficient framework—one that really tackles the core challenges of cost, access, and experience.”

Future Company Goals

What are some of the company’s future goals? Newman concluded:

“For Nomi, we want to help the millions of people already on our analytics platform truly understand their healthcare spending—what they pay for, where they spend it, and what they can do differently. From there, our goal is to expand so millions more can access medical and pharmacy services through our network and partners.”

“We know people can save 30% to 50% on healthcare costs, with no copays or deductibles, and finally get care the way they deserve. It’s about making healthcare affordable and accessible for everyone. We’re aiming for mass adoption of our platform, working with employers, TPAs, and governments to bring that vision to life.”