Accolade's product was a person who picked up the phone. American health care is a maze of plans, bills, and referrals. Accolade sold employers a team of health assistants and nurses who could guide workers through it. The company bet that a good guide would save money and make people healthier. When it went public in July 2020, the pandemic had made health care the only topic in town.

A Human on the Line

Tom Spann left Accenture in 2007 to become Accolade's founding chief executive, and he started the company with Michael Cline in the Philadelphia suburbs. Employers paid Accolade to support their workers. Each member got a guide who could find a doctor, explain a bill, or plan care after a diagnosis. Rajeev Singh became chief executive in 2015. By its IPO, the company said its service supported 1.7 million people.

From $22 to Transcarent

Accolade priced its offering at $22 a share on July 1, 2020, above its planned range. The stock jumped more than 40 percent in early trading on Nasdaq and closed its first day at $29.70. The company later added virtual doctor visits and expert medical opinions. Its shares slid after 2021. In April 2025 Transcarent, a digital health startup, took Accolade private for $7.03 a share, about $621 million.

Cover: Portrait of a Man Wearing a Laurel Wreath, Ancient Egyptian. Art Institute of Chicago, public domain. Chosen for a laurel wreath (an accolade).