Calling it a "historic breakthrough," the Trump administration Tuesday announced an expansion of telehealth services for seniors in an effort to Americancs from visiting doctor’s offices in person and risk spreading or catching the novel coronavirus.
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“Medicare patients can now visit any doctor by phone or videoconference at no additional cost," Trump said during a White House press briefing noting this will help seniors given the coronavirus' respiratory impact often results in particularly severe symptoms for seniors
How "telehealth" works is patients can -- among other services -- consult with a medical professional via mobile phone or computer.
The health care industry is worth roughly $10 trillion, accordin to a recent report from Kenneth Research, with telehealth companies comprising of 23 percent of the market over the next five years.
Here is a look at some of the companies in the telehealth sector
Recognized by many across the industry as the founder of telehealth services, it launched in 2005 laying the groundwork for mobile health services. It's now recognized as the oldest and largest platform for Telehealth services offering affordable healthcare services in 130 countries. Patients can speak to a doctor via the web, phone, or mobile app in less than ten minutes.
In March, Teledoc's market capitalization was around $9 billion, making it the leader in telemedicine.
Teledoc stock closed up a just short of one percent Tuesday.
Telus Corporation is a Canadian based Telecommunication company that entered the telehealth industry in the spring of 2019 while launching its Babylon app. Now it's telehealth services have roughly 2500 customers. Telus broke into telehealth to serve a dire need in Canadian health care system -- the need for an alternative to the national health care system.
Telus stock was up more than 6 percent Tuesday.
CareClix is a telehealth Software as a Service combining Online Medical Suites with clinical patient data and diagnostic medical workflow that enables patients and doctors to perform consultations similar to face to face consultations.
Its program coordinates with board-certified physicians around the world to offer a variety of telehealth services, including video examinations and consultations. CareClix also operates a provider care group, allowing physicians to offer their patients general and specialized services on demand around the clock.
Care Clix patients also are able to file and track claims online. Unique to other telehealth companies, Care Clix eliminates the need for a phone. You can also schedule telemedicine visits online and update them anytime through the self-scheduling feature.
Care Clix is a subsidary of Solei Systems, which is traded as over-the-counter (OTC) stock. The OTC is a decentralized market where stocks are traded directly between two parties without a central exchange or broker. Solei's stock was down more than 9 percent Tuesday.
Doctor On Demand
Doctor on Demand is quite literally is a doctor on demand. The Telehealth service allows patients to connect with doctors over a live video call. Doctors treat patients for a range of moderate medical conditions such as a sore throat, sports injuries, rashes, and flu symptoms.
Last month, Doctor On Demand announced the launch of Synapse, the first of its kind to-market fully-integrated platform that allows health plans and employers to deliver primary care services virtually.
Investors in the company include Richard Branson, Qualcomm Ventures and Goldman Sachs Investment Partners.
If you are caught with an emergency on vacation and are looking for emergency care, ICliniq has a virtual hospital service. The company founded in 2012, offers online access to a catalog of specialty doctors, and the platform caters specifically to expatriates and travelers.
Patients have access to physicians at all times of the day and night and pay a flat fee to get their health questions answered.