Teladoc Health accelerates the adoption of virtual care
Teladoc Health provides an integrated virtual care system for delivering, enabling and empowering whole-person health. As a result, clients can purchase virtual access to healthcare services and a network of medical experts. The company addresses a full spectrum of health and well-being, from wellness and prevention to acute care to complex healthcare needs. Specific tools and personalized support empower people with chronic conditions such as diabetes, hypertension and kidney disease to live healthier through timely and actionable information. In January, Teladoc Health and DexCom, a leader in real-time continuous glucose monitoring (CGM) announced to bring CGM technology and personalized insights to people with type 2 diabetes. This data sharing agreement will help members more easily visualize their health information and understand how lifestyle decisions affect their blood glucose levels.
Teladoc’s scalable platform passed its test as the world went into lockdown and member visit volumes grew rapidly. The company’s virtual healthcare system allowed physicians practicing medicine and allowed people to stay safely at home. While the virtual care market is in an early stage of development, it is competitive and attracts increased competition. A significant portion of Teladoc’s revenue is derived from renewal and existing client contracts and sales of additional services to existing clients.
The company drives its growth organically and through acquisitions. The revenue increased 98% to $1,094 million in 2020, including an incremental $128.3 million from InTouch Health acquisition and Livongo merger. Since the company’s inception losses in each period incurred. In 2020 and 2019 Teladoc reported net losses of $485.1 million and $98.9 million.
In the last five years, Teladoc’s stock price climbed 1,579%.