The Silicon Review
“Rather than saying, ‘I’m sick. I need to go to the doctor.’ people should be asking, ‘I’m sick. What’s the best way to get care?’”
According to the CDC, there are approximately 1.25 billion ambulatory care visits in the United States each year, including those at primary care offices, hospital emergency rooms, outpatient clinics and other settings. It is estimated that approximately one third of those visits – 417 million – could be treated through telehealth. Furthermore, according to the Agency for Healthcare Research and Quality, there are 168 million behavioral health visits each year, of which approximately 80 percent could be addressed via telehealth. The market demand is there, and being met with patients who are engaged and seeking a better way to get care, on their terms.
Teladoc, Inc. is re-defining how Americans access quality healthcare. It is the nation’s first and largest telehealth platform, with an innovative portfolio of virtual care solutions that works across the healthcare ecosystem to provide a new kind of connected healthcare experience, one with better convenience, outcomes and value. With 75 percent market share, it is the leader in virtual care, offering quality care, when and where patients need it.
Its mission is to create healthcare’s first single solution for addressing a complete spectrum of medical conditions. What this boils down to is simple: delivering care the way patients want to receive it, and in a way, that drives patients to ask, “what’s the best way for me to get care.”
From Launch to Leader
Shortly after the company was founded in 2002, Teladoc launched its first product which was general medical services via telemedicine. Fifteen years later, it has expanded into five other offerings including behavioral health, dermatology, sexual health, tobacco cessation and dermatology.
“Our growing portfolio of broad virtual care solutions marries big data & analytics, devices & wearables and ubiquitous access points with a highly relevant, engaging consumer experience. This dynamic offering of services is what grew the company into what is now the largest and most trusted telehealth platform in the world,” Pete Nieves, chief revenue officer.
Teladoc Expands Its Reach Globally – Acquiring Best Doctors
And with its undisputed success in creating a new paradigm for how patients access care, it was the right time for the company to expand globally with its acquisition of Best Doctors, giving patients access to care across the healthcare ecosystem, including some of the most complicated and costly medical conditions.
From the CEO’s desk
“Our vision is to be the central, trusted source for consumers to find resolution to their broadest array of healthcare needs,and our passion has guided us to create acomprehensive virtual healthcare delivery platform. Now with Best Doctors, we are able to address a complete spectrum of medical conditions.From a child’s fever or flu to an abnormal mole or rash; from depression and anxiety to heart disease; inclusive of cancer, Teladoc is able to help patients get a resolution on their terms. That is the definition of truly connected care.”
Factors behind the success
Announcing its IPO allowed the company to be a major player in the healthcare landscape and truly stake its claim as a telehealth company that was here to stay.
By hitting the 2 million visit mark in December 2016 Teladoc set the industry record, which also translated into more than an estimated $900 million in savings for clients, and the American healthcare system, since inception.
Signing the Texas Telemedicine Bill into law in May of 2016 championed the value of telemedicine and drove home its mission of bringing to quality care to all Americans, especially those who otherwise may have gone untreated.
The acquisition of Best Doctors expanded Teladoc’s service to a comprehensive virtual healthcare delivery platform. With Best Doctors, it now offers a single solution for addressing a complete spectrum of medical conditions, from non-critical, episodic needs to chronic, complicated medical conditions, through a global network of world-renowned experts in over 450 specialties.
Celebrating its 15th anniversary this summer solidifies its positioning in the market as an established platform for patients to access care. The team is proud to say that for 15 years, it has remained unwavering to quality, value and convenience.
Holding the Ground
Teladoc is passionate about standing up for what’s right; and the company will be continuing to drive innovative change and seeking ways to continually improve the healthcare experience for its patients around the globe, delivering better convenience, quality and value.
Say hello to this successful healthcare luminary: Jason Gorevic
Jason Gorevic has served as President and CEO of Teladoc, as well as a member of the board of directors since June 2009. Since taking the reins, Mr. Gorevic has led the company through tremendous growth and steered Teladoc through innovative program enhancements – driving the company to its position today as the leading and fastest growing telehealth firm in the United States.
Throughout his healthcare career, Mr. Gorevic has been a leader in the development, launch and management of innovative products and services that simultaneously deliver customer value and bottom-line results. In 2014, Gorevic was recognized by Ernst & Young as a regional winner of the EY Entrepreneur of the Year Award, and in 2003, at the age of 31, he was named one of Crain’s New York Business “40 Under 40″ executives.