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5 Telehealth Stocks Paving The Way Toward Digitalized Healthcare

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5 Telehealth Stocks Paving The Way Toward Digitalized Healthcare

The global pandemic exposed many gaps in the current healthcare system, to say the least. A result of these newly revealed shortcomings, telemedicine has become a big part of the solution. By digitalizing healthcare services as much as possible, we can reduce strain on the system, lower costs and increase access for patients with mobility issues.

There aren't many pure names when it comes to pure telehealth stocks, though a variety of companies are entering the arena. Additionally, a variety of healthcare and technology stocks could benefit from the increased availability of healthcare services.

Teladoc Health

Even before COVID-19 pushed Teladoc Health, Inc. (NYSE: TDOC) into the spotlight, the service had shown it ability to grow its platform capacity, serving 100 million members by 2020. Since the start of the year, share price has grown 130%, which has fostered a 20x price-to-sales ratio, which is fairly lofty for an early-stage growth company that still hasn't reached profitability.

Zoom

Zoom Video Communications (NASDAQ: ZM) is among those stocks that saw skyrocketing demand as a result of the pandemic. While most associate the now ubiquitous service with company meetings, Zoom has worked to develop its own video healthcare solution has the built-in patient privacy protections, remote waiting rooms, digital stethoscopes, among other features that have garnered it partnerships with medical institutions such as the Moffitt Cancer Center.

Humana

It's impossible to even mention the word helathcare without reckoning with insurers. Humana, Inc. (NYSE: HUM) has been among the very first adopters of virtual doctor visits even before the pandemics. And when COVID-19 swept through the globe, it provided more than 150 digitalized health services.

Anthem

Anthem, Inc. (NYSE: ANTM) entered the telehealth field back in 2016 and now provides more than 200 digital kiosks that allow patients access to community resources, telehealth services, video conferences and insurance benefits information, it provides time help in dozens of languages to everyone in need.

iRobot

Believe it or not, iRobot Corporation (NASDAQ: IRBT) played a hand in creating the first telemedicine robot. Along with partner InTouch, iRobot received Food and Drug Administration approval in 2013 for a robot that could facilitate virtual meetings between doctors and patients. Their RP-Vita robot was useful for allowing doctors to collect information, via iPad, when they couldn't meet with a patient in person.

The benefits of a digitalized healthcare

Adopting virtual medicine should not only reduce costs but more importantly, improve patient outcomes. The pandemic revealed the enormous inefficiencies in the healthcare systems. Whoever removes the red tape will surely score in its top and bottom lines. And even after COVID-19 is gone, telemedicine has a lot of potential ahead.

This article is not a press release and is contributed by Ivana Popovic who is a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. Ivana Popovic does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com Questions about this release can be send to ivana@iamnewswire.com

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