Teladoc Health, Inc. ( TDOC Quick Quote TDOC - Free Report) and DexCom, Inc., have announced that both Livongo for Diabetes and Dexcom members will now receive CGM-powered insights, a new set of features and reports that will help members more easily visualize their health information regarding diabetes.
Teladoc Health and Dexcom will launch a pilot, which will show the impact of continuous glucose monitoring (CGM)-powered insights for people with Type 2 diabetes. Eligible members will receive an integrated product experience including the Livongo for Diabetes program, Dexcom CGM technology and CGM-powered insights at no cost. Through the pilot, members will be able to enjoy a new experience that contextualizes their health data and trends for better health outcomes. Teladoc Health and Dexcom intend to launch the pilot more broadly throughout 2021.
The company becomes part of this agreement with Dexcom because of its merger with Livongo last October. A strategic relationship between Livongo and Dexcom was formed last January to share data for Livongo for Diabetes members using Dexcom CGM technology.
This offering is in line with Teladoc Health’s efforts to provide its members with whole person health through an innovative combination of advanced technology and human expertise.
Provision of specialized solutions for patients with Type 2 diabetes bodes well and is sure to become a hit with its members given a huge population of people suffering the disease. It is estimated that 463 million adults around the world live with diabetes, a number that is expected to rise to 700 million by 2045. According to the Centers for Disease Control and Prevention, regular physical activity, management of weight and improved blood pressure are important factors for preventing diabetes-related complications.
The ongoing COVID-19 pandemic changed our day-to-day lives and incorporated technology in all spheres. Work, school and even doctor visits shifted to online mode.
Government is also supporting the use of telehealth for routine appointments without much restrictions of the past.
Telehealth monitoring is extremely useful when it comes to managing patients with type 2 diabetes. It allows doctors to monitor blood glucose, diet and overall health virtually.
A review of studies by PubMed.gov found that telehealth interventions result in significantly improved blood glucose control compared to typical care interventions. Per a 2018 Centers for Disease Control and Prevention study, diabetes care delivered via telemedicine is safe and saved both time and costs for veterans with type 1 diabetes who live in the rural areas.
Teladoc Health is consistently adding services to its portfolio in a bid to stay ahead of the fast-expanding telehealth industry, which is also attracting other players, stiffening competition for the company. Other players in the same space include
American Well Corporation ( AMWL Quick Quote AMWL - Free Report) , which came out with an IPO in September 2020 and Amazon.com, Inc. ( AMZN Quick Quote AMZN - Free Report) , which via its Amazon Care business, is also planning to expand its telehealth offerings.
Teladoc has gained 139% in a year’s time compared with the
industry’s growth of 20.3%.
Teladoc Health carries a Zacks Rank #3 (Hold), currently. A better-ranked stock in the same space is
Medpace Holdings, Inc. ( MEDP Quick Quote MEDP - Free Report) , which carries a Zacks Rank #2 (Buy) at present. Earnings of the company beat estimates in the last reported quarter by 4.63%.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Looking for Stocks with Skyrocketing Upside?
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