Teladoc Purchases Advance Medical in Hopes for Expansion
Another health merger spawned over the weekend with the Teladoc acquiring the virtual health company Advance Medical. The purchase of the health company will help Teladoc expand its reach globally and their ability to help more people. What is Teladoc and what will this expansion do to its ability to provide more services to its patients? Find out more as we take a look at the acquisition of Advance Medical.
What Is Teladoc and Advance Medical
Teladoc is a video conferencing tech that allows remote access to medical care online via video or phone call. With a growing number of visits in 2017 (306,000) in just its third-quarter results, this virtual health company has slowly worked its way into the minds of millions around the US. Virtual health is a clinical care/professional collaboration that uses telemedicine to connect with clients. With over 21% of Americans using virtual healthcare at the beginning of 2017 and 78% interested in converting, Teladoc enters into an opportunity for huge expansion. The purchase of Advance Medical will help Teladoc grow its global market into Latin America and Asia Pacific, and enable the company’s to provide care in 20 languages through its platform.
About 37% of those who use the Teladoc tools state that it was because of convenience. Another 34 percent of people said its out of curiosity and 34% said it was because the technology is already familiar.
Benefits of TeleMed
With the evolution of healthcare, more and more people have begun the switch to online care. Telemedicine improves healthcare access and helps health facilities expand their reach. Moreover, Telemedicine also helps reduce the cost of healthcare and increase efficiency in managing chronic diseases. The Telemed service also offers the same, if not a better quality of service than normal doctor consultations. Telemedicine has access on demand and patients are being able to connect with doctors in minutes. As a result, this helps reduce any time wasted on driving and scheduling a visit on a day off.