We’re witnessing massive demographic and market shifts that will accelerate the race to value-based healthcare. Case in point: The Medicare Payment Advisory Commission (MedPAC) predicts that Medicare Advantage enrollment will soon eclipse traditional Medicare for the first time.
With more people becoming eligible for Medicare than ever before, our healthcare system is experiencing the broad shift...
As more patients avoid primary care while retail chains and virtual care players push into the space, panelists at ViVE 2023 discussed the future of preventive medicine and whether digital health could improve access.
Ali Parsa, CEO and founder of digital health firm Babylon, said more primary care options are a positive for the healthcare system. The problems are "too vast" for one group to...
The Federal Trade Commission has fined online therapy company BetterHelp $7.8 million for allegedly sharing consumer data with third parties like Facebook and Snapchat for advertising purposes.
The proposed order – the second recent action by the FTC regarding data sharing by a digital health company – would also ban BetterHelp from disclosing health data for advertising. The agency said this is...
Teladoc Health stock fell Thursday after the virtual care company reported a $13.7 billion net loss, or $84.60 per share, in 2022.
That compares with a net loss of $428.8 million, or $2.73 per share, in 2021. The figure included $13.4 billion in noncash goodwill impairment charges following Teladoc's 2020 acquisition of chronic-condition management company Livongo.
Teladoc posted revenue of $2....
Teladoc Health is laying off about 300 employees, or about 6% of the virtual care company's non-clinician workforce.
The job cuts are part of a larger restructuring plan to reduce operating costs. In a filing with the Securities and Exchange Commission, Teladoc said it was also reducing its office space footprint in some markets.
In a letter to staff, CEO Jason Gorevic said the company was...
Teladoc Health posted better than expected revenue in the third quarter, driven by the virtual care giant's direct-to-consumer mental health segment, BetterHelp.
The company reported revenue of $611.4 million, a 17% year-over-year increase, above the midpoint of Teldoc's guidance range. However, the virtual care player reported a net loss of $73.5 million, or $0.45 a share. That compares with $84...
Teladoc Health posted a $3 billion net loss during the second quarter, bringing its losses for the year so far to nearly $10 billion.
By comparison, the virtual care giant recorded a loss of $133.8 million in the second quarter of 2021. Teladoc also reported another noncash goodwill impairment charge of $3 billion in Q2, following a $6.6 billion charge related to its Livongo acquisition reported...
Virtual care company Teladoc Health announced last week it's expanding its primary care program, Primary360, with same-day medication delivery and at-home lab collection.
The new services come via partnerships with digital pharmacy Capsule and Scarlet Health, a division of BioReference Laboratories that offers specimen collection and delivery. It will also add in-network referrals to its primary...
Teladoc Health is facing a class action lawsuit alleging the virtual care company misled investors about its business and financial prospects.
The suit, filed yesterday in the Southern District of New York on behalf of defendants who purchased Teladoc shares between October and April, names the company as well as CEO Jason Gorevic and CFO Mala Murthy.
It alleges they made misleading statements or...
Teladoc Health revised its full-year revenue outlook Wednesday after the virtual-care giant reported a $6.7 billion net loss in the first quarter, a significant jump from an approximately $200 million loss in Q1 last year.
The company said the loss was driven by a $6.6 billion non-cash goodwill impairment charge, related to Teladoc's $18.5 billion acquisition of chronic care management firm...
