Source: Teladoc
All about Teladoc
If I were to ask you for the three most important factors when selecting a healthcare provider I bet your list would include:
- Convenience
- Cost
- Receiving a satisfactory service
So if I were to tell you that New York based telehealth vendor Teladoc (NYSE:TDOC) is able to tick all of those boxes by providing instant online healthcare in a very cost effective manner then you would no doubt sit up and take notice.
The unique selling proposition of the company, as stated on the Teladoc website, reads:
Care that fits your life. Whether your child wakes up with a fever at 2 a.m. or you’ve just received a serious diagnosis, we’re here. No matter what you're facing, we’re available from wherever you are by phone, video, or app.
As investors we are all familiar with the benefits of Software-as-a-Service ((SaaS)), so why not heathcare-as-a-service (HaaS)?
Teladoc operates in multiple regions across the globe, boasts partnerships with hospitals to provide the infrastructure needed to power telemedicare programs, and reaches US consumers through their insurers.
The Market for a Telehealth service
Teladoc has now become an early leader in the virtual-care space, a market that could be worth as much as $250 billion annually in the U.S. alone, still more globally, and so there is the total addressable market (TAM).
The global telemedicare market is growing at an estimated 23.5% per year and telemedicine only accounted for 21% of all outpatient visits as of July 2020 so it has quite a long way to grow.
What Does Teladoc Offer?
Teladoc's premium telehealth platform provides a one-stop service for those seeking digital consultations with their physicians. More particularly, it offers a far broader service than any of its competitors. In addition to traditional online health services, it also provides care for
