Telemedicine has been of obvious great importance during this time of social distancing measures intended to slow the spread of COVID-19, the disease caused by the novel coronavirus. As such, investors have taken a powerful liking to telemedicine and telehealth startup companies, and that trend will likely not change and may even increase once the coronavirus pandemic is over, according to CB Insights.
Since the coronavirus pandemic was declared a national emergency in March, both on federal and state levels, states have loosened restrictions related to telemedicine. In fact, at least 30 states have "broadened access to telehealth in order to mobilize more physicians and create new pathways to care for people under quarantine."
Two telemedicine companies of particular interest to investors right now, while patients have greater accessibility and access to telehealth care, include Doctor on Demand and American Well.
San Francisco-based Doctor on Demand allows patients to virtually visit with doctors and psychologists. Recently, patients have been offered a "free COVID-19 assessment." Through the app, users can check their symptoms and schedule a doctor visit if necessary. Antibody tests are currently available. In light of the current situation, the company has raised at least $160.9 million.
American Well, or Amwell for short, has recently launched new services that connect consumers with 2,000 hospitals, covering over 55 health plans. Through Amwell, patients are able to get access to a virtual meeting with a doctor 24/7, according to their website. The company, based in Boston, has raised at least $566.9 million, a rather substantial amount for a telemedicine startup.
In fact, a variety of telemedicine startup companies have recently launched new programs in an effort to fight the coronavirus, and as such this market area maintains a high level of investor interest. Several of these telehealth companies relevant today include 98point6 (raised at least $86.1 million), Doctolib ($267 million), KRY ($250.6 million), Memora Health ($1.7 million), Ro ($176.5 million), Bright.md ($12.6 million), Cloudbreak Health ($50.2 million), TytoCare ($56.7 million),and K Health ($104 million).
- https://www.businessinsider.com/list-telemedicine-startups-put-to-the-test-by-the-coronavirus-2020-3
- https://khn.org/news/telemedicine-surges-fueled-by-coronavirus-fears-and-shift-in-payment-rules/
- https://www.doctorondemand.com/coronavirus
- https://business.amwell.com/covid-19-and-telehealth-regulations-in-the-states/
- https://business.amwell.com/coronavirus/
