Teladoc Health, Inc. ( TDOC Quick Quote TDOC - Free Report) recently reconceived its primary care model, Primary360, and extended its availability to commercial health plans, employers and other organizations committed to offer health care across the United States.
Shares of Teladoc Health gained 3.6% on Oct 7.
The product was piloted in 2019, and subsequently enhanced its reach to commercial populations from this year as planned. It is worth mentioning that the product has secured widespread success so far in providing extensive and virtual benefits in the marketplace. Primary360 pilot programs have demonstrated that two-thirds of its members were grappling with inefficient traditional primary care, and are currently gaining from long-term relationships with care teams backed by physicians as a result of the product.
The health offering has been devised with the concept of primary care physician and care team striving to deliver integrated care to an individual. It provides enhanced prevention and screening as a result of which chronic diseases plaguing the members can be detected ahead of time or treated if not diagnosed previously. Members are equipped with a personalized care plan aimed at continuously catering to the whole-person health needs. Besides, the product intends to offer specialty care among which the services to address mental health issues have been identified as one of its biggest highlights, as stated by its members.
It should be taken into account that Primary360 can be utilized for accessing not only an enhanced virtual offerings portfolio but also used for an in-person experience. In both cases, the product assures enhanced health outcomes through access to primary care physicians of Teladoc and if need arises, can be directed to high-quality in-network providers as well.
However, still a considerable number of adults (four out of five) lack a sound relationship with a primary care physician as stated by Teladoc Health’s data. Therefore, Primary360 comes at an opportune time as it comprises features like easy accessibility, affordability and improved communication capabilities for navigating health conditions of members. Besides, it intends to shun age-old concerns of healthcare providers to offer primary care.
The recent move reinforces Teladoc Health’s efforts to strengthen its healthcare solutions portfolio and boost its U.S. footprint. In this context, the company’s telehealth platform requires a special mention, which was built through advanced technologies, partnerships with well-established healthcare providers and substantial investments. Recently, it got selected by Infoway for providing remote patient monitoring solutions throughout Canada.
The robust platform proved to be of great help amid the COVID-19 pandemic, which witnessed rapid adoption of telehealth services by patients seeking medical help. While woes related to the new variants of the virus continue to linger, there is clear-cut indication that increased demand for virtual care services is here to stay. Teladoc Health continues to launch a wide array of enhanced virtual care solutions and conduct telehealth visits in order to capitalize on this demand.
Zacks Rank & Price Performance
Shares of Teladoc Health have lost 34.6% on a year-to-date basis compared with the
industry’s decline of 39.6%. Image Source: Zacks Investment Research
Teladoc Health has a Zacks Rank #5 (Strong Sell).
Stocks to Consider
Some better-ranked stocks in the medical space include
UnitedHealth Group Incorporated ( UNH Quick Quote UNH - Free Report) , HCA Healthcare, Inc. ( HCA Quick Quote HCA - Free Report) and Tenet Healthcare Corporation ( THC Quick Quote THC - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
UnitedHealth Group, HCA Healthcare and Tenet Healthcare have a trailing four-quarter earnings surprise of 12.49%, 11.65% and 61.03%, on average, respectively.