Virtual care incumbent Teladoc beat Wall Street revenue estimates in 2023’s first quarter — a feat executives said demonstrated demand among health plans and employers for a single service with a wide range of chronic care offerings.
In recent months, executives have touted Teladoc as a source for “whole-person care” — a bid to distinguish it from smaller virtual companies addressing only one condition, or those who largely make money by facilitating prescriptions. The company offers primary care, urgent care, and virtual appointments, coaching, and disease management for chronic diseases such as diabetes and for mental health conditions.
About a third of patients in Teladoc’s chronic care programs are using more than one — and that number has grown year-over-year and sequentially, executives said during a Wednesday earning call. Earlier this year, Teladoc unrolled its integrated care app; it also recently sponsored a clinical study it said demonstrated that patients enrolled in multiple chronic care programs simultaneously showed more improvement in A1c levels, systolic blood pressure and weight compared to patients in one single program.
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