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Let’s start with a briefing on rapid financial maneuvering right now in the telehealth industry, and the significant risks that underlie it.
To catch you up: The nation’s largest telehealth companies are making big bets on a surge in demand amid the Covid-19 pandemic. Teladoc, the largest provider, is acquiring the online chronic disease company Livongo in an $18.5 billion deal, and Amwell, MDLive, and GoodRx — which operates a telehealth business called HeyDoctor — are all preparing for initial public offerings. The paperwork for those IPOs offer a new window into the long-murky picture of finances in telemedicine, as Rebecca explains in a new story that digs into the filings.
It seems an ideal time for these companies to cash in. America’s overnight transition to telemedicine has introduced the convenience and value of virtual visits on a massive scale, and many patients and providers say they will never go back to the way it was before.
