Built Before. AnciCare Reached 1,200+ Centers by 2002. Building Again.
A co-founder of AnciCare PPO — acquired by CorVel Corporation (NASDAQ: CRVL) in May 2002 — is building the infrastructure layer for diagnostic imaging, applying that experience to a new model for self-funded employers and the patients they cover.
Founder-led conversations about USRad's strategy and growth.
Founder & Track Record
Built by the Founder Who Already Solved This Once
Michael Cabrera is a co-founder of AnciCare PPO — a managed-care imaging carve-out for workers' compensation. USRad is being built for self-funded group health plans and people paying directly for their own imaging.
He built the network to over 1,200 imaging centers by 2002 and more than $16 million in annual revenue by 2001, and it was acquired by CorVel Corporation (NASDAQ: CRVL) in May 2002.
USRad is not a new idea.
It is the evolution of that model — rebuilt with modern infrastructure to scale nationally and serve a significantly larger market.
USRad is designed to transform a traditional network into an infrastructure layer — one that directs patient demand based on performance, not relationships.
"I've seen firsthand how broken the imaging market is — and how powerful it becomes when you fix it.
USRad is the next version of that system, built to scale nationally."
— Michael Cabrera, Founder & CEO
AnciCare Track Record
Why This Matters
- · A national imaging network built and scaled from zero
- · Deep provider relationships built across major markets at AnciCare
- · Built, scaled and exited a national imaging network
- · Rebuilding the model with modern infrastructure
USRad provider portal · demonstration data
BUILT FOR THE NEXT STAGE
Much of the Infrastructure Is Already Built.
USRad is beyond the concept stage. Core infrastructure has already been developed across the member, provider and internal operating sides of the platform.
MEMBER
Booking & Portal
Imaging search and booking infrastructure, payment collection and authenticated member access have been developed.
PROVIDER
Onboarding & Portal
Provider onboarding and portal infrastructure have been developed to support contracting and network participation.
INTERNAL
Administration
An internal administration and operations portal has been developed for USRad staff.
FOUNDATION
Reference Pricing & Provider Ranking
Reference-pricing and provider-ranking infrastructure has been developed to support provider selection as contracted network supply comes online.
Platform Infrastructure
Member booking and portal, provider onboarding and portal, internal administration, reference pricing and provider ranking.
Commercialization
Provider recruitment and contracting, alongside development of the self-funded employer channel.
Employer Infrastructure
A dedicated employer portal has not been built. It is planned as a future development layer for self-funded employer clients.
The next stage is commercialization and scale against infrastructure that has already been developed, rather than building the business from concept stage.
The Market Is Massive. And Overlooked.
Employers and patients still face a fragmented imaging market with wide price variation and limited transparency. USRad is being built to address that gap.
Self-Funded Employers
Employers paying directly for imaging face wide price variation with limited visibility into what they are buying
Underserved Patients
Uninsured and underinsured patients delay or skip necessary imaging on cost
Transparent Contracted Pricing
Designed to reduce imaging costs relative to hospital-based care.
How USRad Is Designed to Create Value
Four structural advantages that compound with scale
Supply Aggregation at Scale
Independent imaging centers are being recruited and contracted into a dedicated network, building a differentiated supply base.
Price Compression Engine
Flat-rate upfront pricing is designed to create a consistent pricing benchmark across markets
Quality Standardization Layer
Subspecialized board-certified radiologists across all network centers establish a quality floor that protects the platform's reliability signal
Demand Matching
Designed to match patient demand with contracted providers as network supply comes online.
Capital-Efficient Revenue Model
Under the Provider Service Agreement, USRad is structured to collect payment upfront and to pay providers within 10 business days of Fulfillment Complete.
Imaging benefits designed for self-insured employer groups — built for volume and capital-light expansion
Designed to earn margin on imaging orders placed through the platform.
The platform is designed to accumulate pricing and performance data across procedures and markets as transaction volume develops.
USRad is designed to earn margin on efficiency — not denial or volume. Payment is structured to be collected upfront; the provider is paid within 10 business days of Fulfillment Complete.
Strategic Growth Roadmap
Deliberate sequencing: Build network density in imaging, then expand from a position of structural advantage.
Each phase builds on the previous — increasing efficiency, strengthening network effects, and expanding the platform's economic advantage.
Phase 1: Network Density
Current Phase
National Supply Density
Build high-density coverage across major metropolitan markets — creating a network advantage that improves matching efficiency and pricing power.
Demand Aggregation Engine
Consolidate patient demand through a unified platform — increasing volume concentration and strengthening routing precision across the network.
Market Standardization
Establish USRad pricing and fulfillment as the benchmark for employer-funded and self-pay imaging — shifting market expectations toward transparent, fixed-rate care.
Phase 2: Strategic Expansion
2027+
Adjacency Expansion
Extend the platform into adjacent diagnostic categories using the platform's provider network and demand infrastructure — entering new markets with built-in advantage.
Care Continuum Integration
Expand from diagnostic access into coordinated care pathways — positioning USRad as the entry point into downstream healthcare services.
Additional Payor Channels
Extend beyond the initial payor mix into additional payor models — increasing volume, retention, and lifetime value per patient.
Core Philosophy: USRad does not expand to grow. It expands after establishing network density — leveraging existing supply, demand, and pricing infrastructure to enter adjacent markets with compounding advantage.
Risk-Aware Business Model
AnciCare experience applied to a new model, with modern technology built for scale
AnciCare Success Blueprint
Built to more than $16 million in annual revenue by 2001
Direct operating experience in this market
Acquired by CorVel Corporation (NASDAQ: CRVL), May 2002
Value realised for investors
Deep industry relationships
Built across AnciCare's operating history, 1994–2002
USRad Enhancements
Modern tech stack built for scale
Cloud-native platform built for nationwide expansion
Capital-efficient operations
Providers paid within 10 business days of Fulfillment Complete
Larger addressable market
Employer-funded and self-pay imaging, against AnciCare's workers' comp market
Payment Sequencing
Payment is collected at booking. Providers are paid under the Provider Service Agreement.
Patient pays upfront
Scan performed, final report uploaded
Provider paid after Fulfillment Complete
Why Now?
Market forces have created the perfect timing for USRad's model
Post-COVID Healthcare
Consumers now expect digital-first, transparent healthcare experiences
Price Transparency Laws
New regulations require hospitals to publish prices, exposing massive markups
Consumer-Driven Care
High-deductible plans push patients to shop for value
Tech Ready
Cloud platforms enable rapid scaling at fraction of historical costs
Built Before. Building Again.
A direct conversation about USRad's model, strategy and next stage.