Teladoc Inc Case Analysis Paper

Teladoc Inc.: Rationale Teladoc Inc. is a pioneer of the U.S. telehealth market. The company was established in 2002 by George Byron Brooks and based in Purchase, New York (Bloomberg, 2017). Telehealth is a form of health care delivery that allows on-demand health care services, remote monitoring, and provider consultations. Teladoc Inc. offers telehealth services through a robust virtual healthcare platform, mobile devices, the Internet, live-video conferencing, and telephone. Teladoc operates in a very complex health care industry but have managed to obtain about 70 percent of the U.S. telehealth market share (Swanson, 2016). The company’s revenues have steadily increased from $19.91 million in 2013 to $123.16 million in 2016 (MarketWatch,

Another important factor is the prevalence of chronic disease among the world population. People are not only living longer, but they are also being diagnosed with chronic diseases at an earlier age. Therefore, the global population is not only aging, people are living with chronic diseases for longer period throughout their lives. The impact of the aging population and prevalence of chronic disease around the world is also causing provider shortages. The United States is expecting a shortage of 90,000 American doctors by the year 2020 (Sherwood, 2016). The global health workforce shortage is predicted to reach 12.9 million by 2035 with the largest shortages in parts of Asia and sub-Saharan Africa (WHO, 2013). Teladoc Inc. has an opportunity to address issues of global health by offering telehealth services to countries that will experience the negative impacts of health care workforce shortage, prevalence of chronic disease, and increased elderly

With the acquisition of Healthiest You, Teladoc expanded its operation and consumer base to all 50 states. Teladoc also expanded the service component of its telehealth products by offering apps that provided consumer with access to prescription drug pricing tools, geo-located provider maps, and customized alerts that notified patients of scheduled appointments (Goodman, 2016). Teladoc has dominated the U.S. telehealth market by gaining consumer-based, building a strong brand through acquisition and partnerships, and expanding the company’s virtual health care network to span across the United States. The next step is for Teladoc to expand telehealth products to the global telehealth