Why the Telehealth Boom is Here to Stay

August 10, 2020, By smallcapfirm,

Telehealth opportunities have become even more explosive.

For one, according to a an Updox survey of 2,000 patients, 42% said they’ve used telehealth services since the pandemic began. Up to 63% said they like telehealth because it limits potential exposure to other patients.

Two, President Trump just signed an executive order to expand telehealth in rural areas.

“Telehealth use has skyrocketed during the pandemic thanks to the President’s actions, and the telehealth revolution is here to stay. The new gold standard for healthcare will be patients and providers deciding on the right blend of in-person and virtual care, when and where it makes sense for them. The President is now directing HHS to keep charging ahead on giving Americans better access to the doctors of their choice, including via telehealth.,” said Health and Human Services Secretary Alex Azar.

Three, we’re seeing more industry consolidation.  Teladoc Health just announced it will acquire Livongo Health in a deal valued at $18.5 billion. The acquisition also builds on Teladoc Health’s virtual mental health offerings.

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