One of the beneficiaries of the COVID-19 pandemic has been virtual health specialist Teledoc Health Inc. (TDOC). The cancellation of planned procedures and patient issues has given the company’s remote services an influx of new customers. Teledoc Health, however, is not a temporary winner, only being right at the right time in the right place. The business has the potential for long-term growth, as after the pandemic, the nature of mass health care will change.
Teledoc Health provides mobile or online appointments for subscribers with physicians with various profiles. The company’s offer provides patient treatment and clinical therapy advice. In the summer, by entering into an agreement with Livongo, Teledoc Health announced an extension of the offer for customers with chronic diseases. For people with some chronic conditions, this platform provides remote monitoring services, as well as programs to maintain a healthier lifestyle. Livongo’s mainly focuses at diabetic patients. Recently, however, the organization has given facilities with guidelines for patients with hypertension. Livingo has a higher rate of customer satisfaction than Apple and Amazon.
Teledoc Health’s revenue rose by 85 percent and 111 percent in the second and third quarters, respectively. For its part, Livongo increased revenue in the second and third quarters by 125 percent and 126 percent, respectively.
And upon the return of the health system to regular service, Teledoc Health will not cease to be in demand. Insurance firms and employers are favorably viewed by Teledoc Health’s remote management and tracking services. Moreover, there is an increasing market interest in continuous health monitoring. It also creates a market beneficial to Teledoc Health and its partners.
At present, Teledoc Health has more than 51 million subscribers to its services, while the number of subscribers to Livongo rose in the third quarter to 442,000. Around the same time, the United States is home to around 147 million people with chronic diseases, which provides a large potential market for both businesses.
The share of Teledoc Health Inc. (TDOC) at the trading on December 23 was worth $209.42, up 1.64% on the day.