Telehealth has gained mainstream adoption for the very first time. Now, this market is set to expand across the world and could be worth $830 billion by 2027.
Teladoc Health has fallen ~50% from the highs as major competition enters the telemedicine space. Analysts have cut out year revenue estimates by substantial amounts. Despite the dip below $160, the stock still trades at a forward EV/S multiple of 10x. Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our model portfolio.
Dozens of telehealth services catering to trans clients have cropped up in the last two years. It's a niche market aimed at eliminating the barriers trans people face to accessing healthcare.
The use of technology has promised to change most jobs. This change has been greatly accelerated by COVID in health care with the use of telemedicine. The American Medical Association has predicted that after COVID, telehealth will account for a shift of $250 billion or about 20 percent of what Medicare, Medicaid and commercial insurers spend on outpatient, office and home health visits. In this bright future, physicians sit in their offices, patients sit at home and … done!
The bottom line: Given the opportunity, the overwhelming majority of patients are choosing to see their doctors in person again. Last May, only 67% of bookings on Zocdoc were for in-person appointments. A little over one year later, that number is back up to 89%, and is likely to rise as more patients resume seeing their doctors face-to-face.
While the public health emergency was recently extended through late July and HHS has indicated it will remain through year's end, keeping telehealth rules permanently would take an act of Congress.