Teladoc conducted 575,000 remote visits last year

By Brian Dolan
Share

Teladoc CEO Jason Gorevic took the stage at the JP Morgan Annual Healthcare Conference in San Francisco this morning to share some preliminary metrics around his company's financial performance last year. Gorevic also announced a few new big name Teladoc customers and shared a slide that included Teladoc's estimates for how well their competitors are doing.

Gorevic said that Teladoc's revenues for 2015 were between $77 million and $77.5 million, but those were preliminary figures. They would mark a 77 percent increase over 2014 for the company. Teladoc also facilitated 575,000 remote visits between patients and providers during 2015, which marks a 92 percent increase over 2014.

Gorevic said that Teladoc now has more than 6,000 customers, including employers, health plans, and -- increasingly -- healthcare providers. He said 26 health plans now work with Teladoc. Recent big-name employer customers for the company include Sony, Sprint, and Merck.

Gorevic said his team believes the telehealth market is still very underserved. Teladoc estimates there were fewer than 1 million remote visits last year between consumers and providers. The company believes that means only 0.5 percent of the addressable market was served in 2015.

One of Teladoc's growth areas, Gorevic said, was with healthcare providers. Teladoc acquired Stat Health around the time of its IPO last year. The acquisition meant Teladoc had a new business unit wholly focused on provider clients, including a platform that served that group's unique needs. Teladoc recently added Louisiana-based provider East Jefferson as a customer and is in the contract phase with Northwestern in Chicago, he said.

The most interesting part of Gorevic's presentation at JP Morgan, however, was his slide depicting the telehealth landscape. The slide includes numbers for some of the better known remote visits companies total annual visits along with brief descriptors of the services they offer. The number of visits for the competition are based on Teladoc's management team's own estimates, the company confirmed to MobiHealthNews following the talk.

Gorevic estimated that MDLive was its next closest rival with between 125,000 and 150,000 visits last year. American Well ranks third in Teladoc's reckoning with between 60,000 and 80,000 visits in 2015, while Doctor On Demand is in fourth with less than 50,000 remote visits facilitated between patients and providers last year. 

The slide states that American Well only offers video-enabled visits, while it lists Teladoc and MDLive as offering both video and voice-only remote visits. An American Well representative told MobiHealthNews via email that the company offers voice-only visits as well as video visits.

Based on Teladoc's own estimates of its competitors' performance to date, it believes itself to be larger than all three of its next biggest competitors combined.