We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Teladoc (TDOC) & Microsoft Partner to Reduce Administrative Woes
Read MoreHide Full Article
Teladoc Health, Inc. (TDOC - Free Report) recently announced extending its partnership with Microsoft Corporation (MSFT - Free Report) to address the workforce crisis. TDOC will integrate Azure Cognitive Service, Azure OpenAI Service and Nuance Dragon Ambient eXperience into its Health Solo platform. This will ease the administrative burden on healthcare personnel.
This move bodes well for Teladoc Health’s flourishing Telemedicine business and unique business model. AI’s enhanced integration in TDOC’s platform will automate the creation process of clinical documents during the virtual examination and, at the same time, help in quality improvement of care. This partnership should enhance Teladoc Health’s value proposition and increase revenues from access fees in the future.
Teladoc Health aims to be at the forefront of delivering quality care to people in need. Since the pandemic hit the world, the demand for virtual care services has grown rapidly, fueling companies like Teladoc Health. The company is focused on improving its offerings through technologies like AI and aims to enhance the doctor-patient relationship.
Per the U.S. Department of Health and Human Services, there will be a shortage of 90,000 physicians by 2025 due to administrative burden leading to burnout. Per American Medical Association, every physician spends two hours on administrative chores after one hour of care provided. Teladoc Health aims to reduce the burden on customers by enabling access to care from the comfort of one’s home. Physicians will benefit from increased flexibility in providing care without worrying about travelling.
Nuance DAX’s integration within Teladoc Health’s Solo platform will automatically document patients’ situations so that doctors can focus more on treating the person rather than looking away to note things. This technology is voice-enabled and captures a multi-party conversation efficiently.
Zacks Rank and Price Performance
Teladoc Health currently carries a Zacks Rank #3 (Hold). Shares of Teladoc Health have gained 7.2% in the year-to-date period against the industry’s 7.3% decline.
HCA Healthcare’s earnings surpassed estimates in three of the last four quarters and missed once, the average surprise being 9%. The Zacks Consensus Estimate for HCA’s 2023 earnings indicates a 7.2% rise, while the same for revenues suggests an improvement of 5.3% from the respective 2022 reported figures.
The consensus mark for HCA’s 2023 earnings has moved 0.1% north in the past 60 days. Shares of HCA Healthcare have surged 62.6% in a year.
Humana’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 8.9%. The Zacks Consensus Estimate for HUM’s 2023 earnings indicates a 12% rise, while the same for revenues suggests an improvement of 10% from the respective 2022 reported figures.
The consensus mark for HUM’s 2023 earnings has moved up 0.1% in the past 30 days. Shares of Humana have declined 11% in a year.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Shutterstock
Teladoc (TDOC) & Microsoft Partner to Reduce Administrative Woes
Teladoc Health, Inc. (TDOC - Free Report) recently announced extending its partnership with Microsoft Corporation (MSFT - Free Report) to address the workforce crisis. TDOC will integrate Azure Cognitive Service, Azure OpenAI Service and Nuance Dragon Ambient eXperience into its Health Solo platform. This will ease the administrative burden on healthcare personnel.
This move bodes well for Teladoc Health’s flourishing Telemedicine business and unique business model. AI’s enhanced integration in TDOC’s platform will automate the creation process of clinical documents during the virtual examination and, at the same time, help in quality improvement of care. This partnership should enhance Teladoc Health’s value proposition and increase revenues from access fees in the future.
Teladoc Health aims to be at the forefront of delivering quality care to people in need. Since the pandemic hit the world, the demand for virtual care services has grown rapidly, fueling companies like Teladoc Health. The company is focused on improving its offerings through technologies like AI and aims to enhance the doctor-patient relationship.
Per the U.S. Department of Health and Human Services, there will be a shortage of 90,000 physicians by 2025 due to administrative burden leading to burnout. Per American Medical Association, every physician spends two hours on administrative chores after one hour of care provided. Teladoc Health aims to reduce the burden on customers by enabling access to care from the comfort of one’s home. Physicians will benefit from increased flexibility in providing care without worrying about travelling.
Nuance DAX’s integration within Teladoc Health’s Solo platform will automatically document patients’ situations so that doctors can focus more on treating the person rather than looking away to note things. This technology is voice-enabled and captures a multi-party conversation efficiently.
Zacks Rank and Price Performance
Teladoc Health currently carries a Zacks Rank #3 (Hold). Shares of Teladoc Health have gained 7.2% in the year-to-date period against the industry’s 7.3% decline.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Medical space are HCA Healthcare, Inc. (HCA - Free Report) and Humana Inc. (HUM - Free Report) . HCA Healthcare currently sports a Zacks Rank #1 (Strong Buy), while Humana carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
HCA Healthcare’s earnings surpassed estimates in three of the last four quarters and missed once, the average surprise being 9%. The Zacks Consensus Estimate for HCA’s 2023 earnings indicates a 7.2% rise, while the same for revenues suggests an improvement of 5.3% from the respective 2022 reported figures.
The consensus mark for HCA’s 2023 earnings has moved 0.1% north in the past 60 days. Shares of HCA Healthcare have surged 62.6% in a year.
Humana’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 8.9%. The Zacks Consensus Estimate for HUM’s 2023 earnings indicates a 12% rise, while the same for revenues suggests an improvement of 10% from the respective 2022 reported figures.
The consensus mark for HUM’s 2023 earnings has moved up 0.1% in the past 30 days. Shares of Humana have declined 11% in a year.