If Teladoc’s 2016 annual report is telling of telemedicine’s overall health then we’ve got ourselves a mixed bag. While the organization saw significant gains in revenue and use, it also saw a huge addition of debt.
Specifically, Teladoc’s total membership increased by 55 percent to reach 17.5 million in 2016, its latest earnings report shows, and the company’s revenue grew by 59 percent, totaling $123.2 million last year. But it also reported a net loss of $74.2 million in 2016 vs. $58 million in 2015 — that’s more than $125 million in two years.
According to Modern Healthcare , the net loss followed the $125 million acquisition of HealthiestYou, a patient-engagement app maker with benefits lookups. Additionally, operating expenses were up — for advertising and marketing and sales — by 31 percent.
With positive news about the advent of telemedicine and the headlines the sector continues to make, the Teladoc figures may be a bellwether for the industry as a whole — though this story (as we’ve reported in the past) is likely going to continue gaining ground given the losses experienced by the firm.
Still, treating patients remotely has its obvious benefits. It’s particularly useful in rural areas in […]