Digital-First Care Operators in Europe
Johannes Schildt & Claes Ruth, CEO and CFO of Kry, on the AI future of telehealth
This points to healthcare scale shifting from owning more buildings to controlling more patient flow, clinician workflow, and payer contracts through software. In Europe, the winner is unlikely to be the hospital group with the most sites, but the operator that can take a patient from symptom intake to diagnosis, prescription, lab referral, and follow up inside one digital system, then plug that system into national reimbursement rules across multiple countries.
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Kry built this by operating care itself, not just selling software. Patients open the app, answer symptom questions, upload images, and speak to a doctor quickly. Kry then routes prescriptions, tests, referrals, and follow up, which lets it redesign the whole visit instead of simply moving an old clinic workflow onto video.
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The hard part in Europe is not the video call, it is local market access. Each country has different reimbursement, regulation, and public payer structures. Kry argues that this back end work, contracts, prescription integrations, quality oversight, and local trust, is why few digital providers have scaled meaningfully outside their home market.
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The business model also changes when care is digital first. Kry already mixes fee for service with capitation, where it gets paid to manage a population rather than bill each visit. AI matters because it can remove admin work and resolve more cases before a clinician spends time, which makes subscription style primary care more viable at large scale.
The next big European healthcare companies are likely to look like care operators built on software rails, not software vendors bolted onto hospital systems. As AI improves triage, coding, and clinician productivity, the platforms with existing patient demand, payer relationships, and hybrid digital plus physical pathways should widen their lead and absorb more of primary care spend.