Teladoc Health, a leader in whole-person virtual care, has been in the news since the start of 2022. The digital healthcare provider announced a significant new collaboration with Amazon Alexa to expand Teladoc telehealth services. Here’s a brief look at Teladoc Health’s efforts to make telehealth services more accessible.
Teladoc Health Partnership with Amazon Alexa
Teladoc Health recently announced its partnership with Amazon to create a first-of-its-kind experience of voice-activated medical virtual care. Amazon Alexa will connect Teladoc care providers with people in the US for general medical support 24/7 through supported Echo devices like an Echo, Echo Dot, and Echo Show. The service will initially offer audio capability, with “video visits coming soon” for general medical needs.
To reach out to a healthcare professional, users simply say, “Alexa, I want to talk to a therapist” to their Echo device to be connected to a Teladoc call center representative. Users will then get a call back on their Echo devices from a Teladoc practitioner for virtual visits related to non-emergency health needs, such as symptoms of a cold, flu, allergies, or behavioral care. Depending on the patient, the cost per visit can be as low as $0 per visit with insurance or $75 without insurance.
Teladoc Telehealth Services for Employers
Teladoc Health has also recently launched its Virtual Care Transformation Model to provide enhanced virtual healthcare benefits. This integrated virtual care program is expected to reduce costs and improve access to care for all employees and their families. According to a Teladoc Health study, 70% of employers plan to implement virtual care plans within the next three years. Teladoc health research shows that only 20% of employers have implemented such care plans.
The number of organizations that have implemented whole-person virtual care strategies has only reached 20%. Even the most innovative employers have only begun to realize virtual care’s potential and the benefits it can provide for all stages of a person’s health journey, from wellness to complex healthcare needs.
Teladoc Health Agreement with Northwell Health
New York’s biggest healthcare provider, Northwell Health, has announced its agreement with Teladoc Telehealth to deliver connected virtual care and expand care delivery to patients inside and outside the health system. The new strategy of Teladoc Health’s collaboration with Microsoft aims to improve clinical teamwork and communication among Northwell clinicians. Teladoc Health’s virtual care platform will be implemented in twenty Northwell hospitals and will be expanding over time to additional affiliates.
Teladoc Health Faces Impairment Charge
Teladoc Telehealth has recorded a $6.6 billion impairment write-off in its first-quarter financial results. The impairment results from a loss in value of its chronic care company, Livongo. Teladoc acquired Livongo in October 2020 for $18.5 billion. The value of a business includes more than just its physical assets; brand loyalty and customer trust often account for a large portion of the value. For this reason, companies often pay more for a business than the physical assets are worth. Every year companies do an audit to establish the value of the business. The Livongo acquisition hasn’t gone well for Teladoc Telehealth, and Livongo has lost value, hence the goodwill impairment cost. Teladoc Health declared a first-quarter loss of $6.7 billion. The company lost $429 million in 2021.
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