The Oncology Institute, Inc. (TOI), on Monday, announced the launch of the Florida Oncology Network, a fully delegated cancer care network aimed at providing accessible, high-quality, and coordinated cancer care to Florida residents.
This network will include TOI Clinics and a panel of value-focused oncologists throughout Florida. The initiative is designed to provide affordable and outcome-oriented care for patients and payor partners.
TOI has partnered with Provider Network Solutions (PNS), a specialty MSO and third-party administrative services, to manage claims administration, processing, and network management.
This collaboration combines TOI's nationally recognized clinical model with PNS's expertise in managing delegated provider networks in Florida.
The network is launching immediately, and plans are in place to expand its geographic footprint and patient reach across Florida throughout 2025.
To date, TOI has signed agreements adding 80,000 lives in 2025, including over 42,000 Medicare Advantage lives under the new fully delegated model in Florida.
TOI reported $393 million in consolidated revenue for the year ended December 31, 2024, compared to the revenue of $86 million in 2023.
Revenue for Patient Services totaled $205 million, a 4.0 percent decrease year-over-year, primarily due to the loss of a contract earlier in 2024, though new contracts in the second half of 2024 offset this decline.
Dispensary Revenue increased by 73.3 percent compared to the prior year due to higher average revenue per filled prescription.
Clinical Trials & Other Revenue increased by 24.8 percent compared to the prior year due to higher miscellaneous contract revenue.
Net Loss for 2024 narrowed to $64.7 million or $0.71 per share from $83 million or $0.92 per in 2023.
Looking ahead to 2025, TOI expects revenue to range between $460 million and $480 million, up from $393 million in 2024.
The company had cash, cash equivalents, and investments of $50 million as of December 31, 2024.
Currently, TOI is trading at $1.16 up by 1.75 percent on the Nasdaq.
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