THE (REMOTE) DOCTOR WILL SEE YOU NOW
News and trends in telehealth
For World Health Day today, Cassandra is covering innovations in the telehealth space. With Covid-19 keeping the doctor away–literally, widespread adoption of telehealth services is leading to what McKinsey assesses as $250B of current U.S.healthcare spend going virtual. As consumers revel in the ease and convenience of video visits “to” the doctor, this is only the beginning of the telehealth trend. Read below to learn about some telehealth companies making an impression on both consumers and investors, and check out our Picture of Health report on Gen Zs and Millennials’ approach to health and wellness exclusively available for clients.
TytoCare to the rescue! The first of its kind in the healthcare industry, TytoCare is an AI-powered, all-in-one kit and app allowing consumers to take exams, receive diagnoses, and get prescriptions from trusted physicians within minutes–all from the comfort of their own home. Demand for the savvy telehealth solution has grown exponentially during Covid-19, and the company just raised $50M in March, totaling $100M raised within just 10 months. TytoHome kits are available for $299. The brand explains, it’s “just like visiting the doctor in person.”
Ro’s the man! A telehealth and digital pharmacy, Ro is “building the future of healthcare,” with accessible, affordable, and inclusive services. Their diagnose-to-delivery platform allows physicians, nurses, and pharmacists to track each patient’s journey, creating a frictionless experience for everyone. The company recently secured $500M in funding. Ro treats twenty conditions, including sexual health, weight loss, dermatology, and allergies.
GRAND ROUNDS + DOCTORS ON DEMAND
Telehealth titans Grand Rounds and Doctor On Demand hope to provide patients with a more user-centric healthcare experience. Their recent multibillion-dollar merger will help bring more “coordinated care for patients” in terms of determining insurance coverage for certain providers and procedures, along with better monitoring of medical records. Both brands saw a rise in demand during the pandemic and Grand Rapids co-founder CEO, Owen Tripp, explains, the “deal is signaling the future of digital health.”