State of Franklin Healthcare Associates

What State of Franklin Healthcare Associates does

State of Franklin Healthcare Associates (SOFHA) is a physician-owned, 100% employee-owned multi-specialty medical group founded in 1998 and headquartered in Johnson City, Tennessee. It serves the Tri-Cities region of Northeast Tennessee and Southwest Virginia through 15+ practice locations spanning primary care (Internal Medicine, Family Medicine, Pediatrics, OB/GYN), specialty services (Sleep Medicine, Podiatry, General/Bariatric Surgery), diagnostic imaging, a Comprehensive Breast Center, walk-in clinics, and an in-house CLIA-certified clinical laboratory. SOFHA operates on Allscripts CareLink Clinical Desktop as its core electronic health record, supplemented by telehealth services for established patients and care-coordination infrastructure spanning hospitalists, clinical pharmacists, registered dietitians, and small-group chronic disease programs.

The organization employs 200+ providers and 1,000+ staff and is attributed with 120,000+ patient lives. Revenue is generated through fee-for-service patient care billed across Medicare Advantage (BlueCross BlueShield, Humana, United Healthcare) and Traditional Medicare, value-based care management fees from CMS Comprehensive Primary Care Plus (CPC+, $15-$28 per beneficiary per month), the Million Hearts Cardiovascular Disease Risk Reduction intervention, diagnostic imaging transactions (more than 15,000 mammography screenings annually across two facilities), and self-pay programs such as the medically supervised Weight Management Program. In November 2023 SOFHA implemented an Employee Stock Ownership Plan, formalizing 100% employee ownership under physician leadership. Recent strategic activity has centered on tuck-in acquisitions and new clinic openings — Mountain Region Family Medicine (2020), Highlands Family Medicine (2021), Preferred Internal Medicine (2021), Foot and Ankle Specialists (2023) and Surgical Group of Johnson City (2024) — together with the 2024 opening of SOFHA Pediatrics in Bristol and a new Weight Management service line. Quality credentials include NCQA Patient-Centered Medical Home recognition, NCQA Distinction in Behavioral Health Integration, American College of Radiology Comprehensive Breast Imaging Center designation, and the HFMA MAP Award for High Performance in Revenue Cycle.

Name

State of Franklin Healthcare Associates

Legal name

State of Franklin Healthcare Associates

Website

https://sofha.net

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

101–250 employees

Short description

State of Franklin Healthcare Associates is a 100% employee-owned, physician-led multi-specialty medical group serving 120,000+ patients across Northeast Tennessee and Southwest Virginia through 15+ clinics spanning primary care, specialty services, diagnostic imaging, walk-in care, and value-based Medicare programs.

Ownership category

akta.pro rank

Product category

Multi-Specialty Healthcare Services

NAICS

Offices of Physicians (except Mental Health Specialists) (621111), Ambulatory Health Care Services (621), Diagnostic Imaging Centers (621512)

SIC

Services-Offices & Clinics Of Doctors Of Medicine (8011), Services-Specialty Outpatient Facilities, Nec (8093), Services-Medical Laboratories (8071)

akta.pro primary industry

Independent Primary Care Practices (HLAFAGAA)

akta.pro secondary industries

Retail & Walk-In Primary Care Clinics (HLAFAGAC), Women’s Imaging & Breast Health Centers (HLAFAJAJ)

Keywords

• Multi-specialty healthcare
• Primary care services
• Diagnostic imaging services
• Walk-in clinic care
• Value-based care models

Headquarters

HQ city

Johnson City

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Patient Care Services: Fee-for-service revenue from comprehensive healthcare services including primary care, specialty care, diagnostic imaging, laboratory services, and hospitalist services across multiple clinic locations in Northeast Tennessee and Southwest Virginia
2. Value-Based Care / CPC+: Care management fees from CMS CPC+ partnership ($15-$28 per beneficiary per month) for enhanced, coordinated services on behalf of Medicare fee-for-service beneficiaries; participating in intervention group for Million Hearts Cardiovascular Disease Risk Reduction Model
3. Weight Management Program: Self-pay program for medically supervised weight management; insurance not billed for program visits; medication costs may be covered separately through pharmacy or manufacturer programs
4. Diagnostic Imaging Services: Revenue from imaging center services including mammography, MRI, CT scans, and other diagnostic equipment; conducting more than 15,000 mammography screenings annually between two Comprehensive Breast Center facilities

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

State of Franklin Healthcare Associates is a physician-owned, multi-specialty medical group delivering primary care, specialty physician services, walk-in immediate care, diagnostic imaging, a dedicated breast center, sleep medicine, weight management, telehealth, and chronic disease programs (including a dedicated diabetes clinic) to patients across Northeast Tennessee and Southwest Virginia. The group operates 15 practices with 200+ providers and serves more than 120,000 attributed patients under value-based care contracts including CMS's CPC+ initiative.

Product overview

State of Franklin Healthcare Associates (SOFHA) is a multi-specialty physician-owned healthcare group operating as a platform of coordinated healthcare practices and services across Northeast Tennessee and Southwest Virginia. The organization offers primary care (Internal Medicine, Family Medicine, Pediatrics, OB/GYN), specialty services (Sleep Medicine, Diagnostic Imaging, Comprehensive Breast Center), and supportive care (Physical Therapy, Pharmacy Services, Nutrition Services, Palliative Care, Diabetes Clinic). Key branded service centers include SOFHA Imaging Center, SOFHA Comprehensive Breast Center, SOFHA Surgical Group, SOFHA Sleep Center, and the Weight Management Program. Walk-in clinics in Johnson City and Elizabethton provide acute care access without appointments. Telehealth services enable virtual visits. The organization supports over 200 providers across multiple practice locations, serving hundreds of thousands of attributed patients annually.

Differentiator

Problem solved

Functional benefit

Brands

• SOFHA Walk-In Clinics: Walk-in medical clinics located in Johnson City, Elizabethton, and Greeneville providing acute care services.
• SOFHA Imaging Center
• SOFHA Comprehensive Breast Center
• SOFHA Weight Management Program
• SOFHA Sleep Services

Products and services

• Family Medicine / Primary Care Comprehensive primary care for adults and families across SOFHA's 15 practice locations in the Tri-Cities region, serving as the front door to the group's multi-specialty services.
• Specialty Physician Services Specialty physician practices operating within SOFHA, including a surgical group, foot and ankle care, sleep medicine, and other medical specialties delivered by physician specialists.
• Walk-In / Immediate Care Clinics Walk-in clinic locations (including Colonial Heights, Gray, Piney Flats, and Jonesborough) providing same-day, no-appointment care for acute needs across the Tri-Cities region.
• Diagnostic Imaging Services Imaging services including X-ray, ultrasound, CT, MRI, nuclear medicine, and DEXA bone density scans performed in-house for SOFHA patients.
• State of Franklin Breast Center Dedicated breast center offering screening and diagnostic breast imaging and related women's imaging services.
• Sleep Medicine Services Evaluation, diagnosis, and treatment of sleep disorders through SOFHA's sleep medicine specialty practice.
• Weight Solutions / Weight Management Program Medically supervised weight management program offered by SOFHA to help patients achieve and maintain weight loss, including self-pay and weight loss medication offerings.
• Telehealth / Virtual Visits Remote virtual-visit care provided by SOFHA providers, enabling patients to receive consultations without traveling to a clinic.
• Diabetes Clinic Dedicated clinic focused on the management of diabetes, supporting SOFHA's chronic disease management capabilities and value-based care contracts.
• Clinical Laboratory Services CLIA-certified in-house laboratory providing diagnostic testing to support SOFHA's primary, specialty, and walk-in care services.

Quantifiable outcome

• 120,000+ attributed patients served
• +3 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Surgical Group of Johnson CitycoreStrategic or Co-development Partner · 22 April 2024Surgical Group of Johnson City joined SOFHA Surgical Group effective June 1, 2024. Welcomed Dr. Michael Hodge, Dr. Andrew Garrett, and Dr. Rebecca Odom. Practice specializes in minimally invasive techniques for cancer, abdominal, breast, gallbladder, thyroid, and colorectal surgeries.
• Medicare Plans (BlueCross BlueShield, Humana, United Healthcare)coreChannel Partner/ Reseller/ Distributor · 11 October 2023All SoFHA practices and providers participate in BlueCross BlueShield Medicare Advantage PPO and HMO, Humana Medicare, Traditional Medicare, and United Healthcare Medicare plans to serve senior patients
• Rob Slattery (CEO)coreOthers · 23 January 2023Rob Slattery took over as new CEO in January 2023, succeeding Richard Panek who shifted to Chief Strategy Officer before retirement in June 2023. Slattery brings experience in value-based care and integrated care models.
• Preferred Internal MedicinecoreStrategic or Co-development Partner · 2 November 2021Preferred Internal Medicine welcomed in November 2021 with two clinics in Greeneville and Newport, Tennessee. Expansion helping to meet needs in the patient population.
• Mountain Region Family MedicinecoreStrategic or Co-development Partner · 20 November 2020Merger agreement signed in November 2020 with Mountain Region Family Medicine. The relationship dates back to 2013, with merger bringing practices in Sullivan County and Southwest Virginia under SOFHA umbrella. Patients gained access to medical information, dietary consults, social workers, and care coordinators.
• BlueCross BlueShield of TennesseecoreChannel Partner/ Reseller/ Distributor · 3 May 2016SOFHA joined BlueCross Medicare Advantage PPO and HMO Networks in May 2016, expanding choices for seniors in the Tri-Cities region. BlueCross has 25,000+ providers statewide.
• Dr. Rick Hess, PharmD. at ETSU Gatton College of PharmacyminorStrategic or Co-development PartnerPartnership with Dr. Rick Hess, Associate Professor with Gatton College of Pharmacy at ETSU, to operate ADA-recognized Diabetes Self Management Educational Program serving diabetic patients across SOFHA practices.
• Allscripts (CareLink Clinical Desktop)coreTechnology or IntegrationAllscripts CareLink Clinical Desktop EMR system used by SOFHA providers. Remote access link available under Resources for SOFHA EMR Access. Allscripts Provider Training page indicates ongoing training for staff.

Scale indicators8 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Holston Medical Group: Multi-specialty physician-owned group operating in the Tri-Cities region of Northeast Tennessee and Southwest Virginia. Holston Medical Group is the most direct comparison to SOFHA in terms of geography, service mix (primary care + specialty), and independent physician-led model.
• Privia Health: National physician enablement company that partners with independent practices to operate value-based care contracts across multiple states. Privia is comparable to SOFHA in its multi-specialty group orientation and value-based care strategy, though at much larger scale and multi-state.
• Agilon Health: Public company focused on partnering with primary care physicians to take full risk for Medicare Advantage patients. Comparable to SOFHA in its value-based care model targeting senior populations, though Agilon operates at significantly larger scale and pure-play risk-bearing arrangements.
• ChenMed: Physician-led, family-owned primary care group focused exclusively on seniors, operating value-based care centers with full capitation arrangements. Comparable to SOFHA in physician-led culture and senior-focused primary care, though ChenMed is larger and more capitated.
• One Medical (Amazon): Membership-based primary care platform acquired by Amazon, emphasizing patient experience, integrated technology, and multi-specialty care. Comparable to SOFHA in primary care orientation and value-based contracting, though urban-focused vs. SOFHA's regional/rural footprint.
• VillageMD: Primary care group owner/operator (majority-owned by Walgreens Boots Alliance) focused on value-based care for seniors and commercial populations. Comparable to SOFHA in its multi-specialty primary care platform and risk-bearing contracts, though at much larger national scale.
• Oak Street Health (CVS Health): Senior-focused primary care platform owned by CVS Health, operating risk-bearing Medicare Advantage clinics. Comparable to SOFHA in its focus on senior primary care and value-based reimbursement, though Oak Street operates at national scale and is fully capitated.

Broad incumbents

• Ballad Health: Dominant integrated health system in the Tri-Cities/Northeast Tennessee region operating multiple hospitals and a large employed physician network. Ballad is the primary competitive incumbent whose growth in employed physicians directly impacts SOFHA's referral base and patient volume.
• Cleveland Clinic: Large national health system with an employed physician group model. Comparable as a benchmark for integrated multi-specialty care delivery and value-based contracting capability, though at vastly larger scale and academic-medical-center orientation.

Regional players

• Carilion Clinic: Large integrated health system serving western Virginia including parts of the Tri-Cities region. Carilion is a comparable regional health system with primary care, specialty, and hospital services, though anchored in Roanoke rather than the Tri-Cities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCbQKs9Zck0nORr8_0vvRa6A
• Facebookfacebook.com/sofhealthcare
• Instagraminstagram.com/stateoffranklinhealthcare
• Xx.com/sofhealthcare
• LinkedInlinkedin.com/company/state-of-franklin-healthcare-associates

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about State of Franklin Healthcare Associates