Teladoc Inc. TDOC, a premier telehealth services provider, has launched its telehealth solutions’ services at Jefferson Health. Teladoc’s services will complement JeffConnect, the telehealth program of Jefferson Health.
Teladoc has a huge and growing user base across multiple market segments, with more than 7500 clients. These include more than 220 Fortune 1000 clients. Teladoc serves nearly 30 health plan and 110 Hospital/Provider customers. The company lays emphasis on value-addition through product innovation to retain clients. It also focuses on penetrating underserved segments such as provider market, and small and mid-sized employers to expand its client base.
Teladoc is also investing heavily in new marketing technologies and support staff to aid salesforce in penetrating existing accounts, lead generation, winning new clients and implementations. These are likely to act as top-line drivers.
The company’s strong performance is reflected in its share price movement. The stock gained a whopping 149.5% compared with growth of 3.06% for the Zacks categorized Medical Services industry, over the past one year.
Teladoc’s big clients include UnitedHealthcare of UnitedHealth Group Inc. UNH, Aetna Inc. AET, among others. Telehealth provides significant opportunities to solve access, cost and quality of care challenges through a platform catering to consumer demand and physician availability in real-time and in various modalities such as video, web, mobile and telephone.
Moreover, the emergence of technology such as big data and analytics, cloud-based solutions, online video and mobile applications present this industry with huge scope for growth. Based on these factors, we expect the telehealth company to rapidly expand its customer base in the future.
Coming back, Teladoc will help Jefferson to provide better and improved services to both its inpatient and outpatient clients. Jefferson has acknowledged that it will be benefited by Teladoc’s efficient service backed by superior configurable technology, smooth integration and a shared commitment to provide access to quality care.
Teladoc currently carries a Zacks Rank #3 (Hold). A better-ranked player in this space is AMN Health Services Inc. AMN. This stock carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMN posted a positive earnings surprise in each of the last four reported quarters with an average beat of 15.8%.
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