Provides Total Market Savings of More than $900 Million
LEWISVILLE, Texas--(BUSINESS WIRE)--
Teladoc,
Inc. (NYSE:TDOC), the undisputed leader in telehealth, providing access
to care for millions, announced today that in December the company
surpassed the mark for providing a total of more than two million
patient visits. Teladoc was the first and only telehealth provider to
reach the one million patient visit mark in October 2015, and now with
accelerated utilization of the service, Teladoc has achieved the second
million visits in only 14 months.
Teladoc’s accelerating utilization fuels the company’s track record of
driving meaningful savings for clients and the overall healthcare
industry. Based on a recently completed, comprehensive study performed
by Veracity Analytics, this two million visits milestone translates into
more than $900 million that it is estimated Teladoc has saved its
clients, and the American healthcare system, since its inception. Led by
Dr. Niteesh Choudhry, a Harvard Researcher and Physician at Brigham and
Women's Hospital, the study, using an advanced ROI methodology and data
from nearly two million members, has found an average savings of $472
per visit.
“As telehealth continues to bridge the gap of access to care, Teladoc
has been successful in identifying the right mix of tools to continue to
drive utilization to new highs, while also demonstrating significant
cost savings for the healthcare market,” said Jason Gorevic, chief
executive officer, Teladoc. “Since taking Teladoc public just 18 months
ago we have reached the inflection point for utilization and adoption,
and we are excited about the impact we can make, working together with
our clients, in 2017.”
The continued growth of utilization and associated savings will be
significant to the healthcare market as telemedicine continues to take
off. This new and enhanced study is based on analyses of multiple
external, independent case control, episode of care studies to predict
ER cost avoidance in a highly accurate and dependable way.
“Using data from the multiple evaluations gave us the opportunity to
identify whether there are specific factors that are consistently
associated with the cost savings from Teladoc,” said Niteesh Choudhry,
MD. “The extremely high correlation between the savings predicted by our
statistical model and the savings that were actually observed, and the
repeated replication of this result, gives us confidence that the
factors we identified could be applied to other settings to estimate the
anticipated savings from using Teladoc as compared to visiting an
emergency room or other traditional healthcare settings.”
For more information on the Teladoc telehealth solution, visit https://www.teladoc.com/.
About Teladoc
Teladoc, Inc. (NYSE:TDOC) is the nation’s leading provider of telehealth
services and a pioneering force in bringing the virtual care visit into
the mainstream of today’s health care ecosystem. Serving some 7,000
clients — including health plans, health systems, employers and other
organizations — more than 17 million members can use phone, mobile
devices and secure online video to connect within minutes to Teladoc’s
network of more than 3,100 board-certified, state-licensed physicians
and behavioral health specialists, 24/7. With national coverage, a
robust, scalable platform and a Lewisville, TX-based member services
center staffed by 400 employees, Teladoc offers the industry’s most
comprehensive and complete telehealth solution including primary care,
behavioral health care, dermatology, tobacco cessation and more. For
additional information, please visit www.teladoc.com.
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Source: Teladoc, Inc.