Neko's Clinic-First Preventive Model

Neko is choosing depth of visit over speed of scale. Its clinic model lets it gather measurements that a mail in or partner lab model cannot, then turn those results into a same day conversation with a clinician while the scan is still fresh. That makes the product feel more like a premium preventive checkup than a blood panel subscription, but it also means every new city requires rooms, devices, and licensed staff.1 2

• A Neko visit is built around a one hour clinic workflow. Roughly half the time is measurement, including skin imaging, cardiovascular testing, blood work, eye pressure, and grip strength. The other half is a clinician review and action plan. Function instead sells a $499 yearly membership centered on two rounds of lab testing through Quest's existing draw network.1 2
• The economic tradeoff is concrete. Function can add members by sending more people to outside labs, which keeps fixed infrastructure light. Neko owns rent, equipment depreciation, R&D on its sensors, and clinician staffing, so growth depends on how many scans each clinic can run per day and how fully booked each site stays.1 2
• That extra clinic layer gives Neko more proprietary data and tighter product control. It designs its own sensors, processes blood on site, and can add follow up services like ultrasound and echocardiograms. Function is moving broader through software and distribution, adding imaging and genomics while avoiding the burden of operating physical clinics.1 2

The market is likely to split into two lanes. Asset light players will push broad, lower friction diagnostic memberships, while Neko will keep building a denser in person category where differentiated measurements and same visit interpretation justify the operational load. If clinic throughput improves with more automation, Neko can turn that operational burden into a real moat.1 2