1) COVID-19 Has Driven Revenue Up 77%
The headline revenue data (summarised below) provides very positive news for AmWell and its new investor, Google. Notably:
- Even prior to COVID-19, the company was growing well with revenues increasing by 31% in 2019 compared to 2018.
- This rate of growth has accelerated in 1H20, with overall revenue up 77% in the same period in 2019.
- The 2019 growth was partly driven by a small increase in the number of health plan subscription customers and
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Analysis: August Health IT M&A Activity; Public Company Performance
– Healthcare Growth Partners’ (HGP) summary of Health IT/digital health mergers & acquisition (M&A) activity, and public company performance during the month of August 2020.
M&A is back and the velocity of the rebound has outpaced all expectations. The recovery quickly worked its way across the spectrum from large to small-cap, beginning with the larger cap NASDAQ rally of nearly 80% from lows in late March (only to soften in recent days), followed by multi-billion
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U.S. Telemedicine App Downloads Spikes During COVID-19 Pandemic
What You Should Know:
- US telemedicine app downloads see dramatic increases during the COVID-19 pandemic, with some seeing an 8,270% rise YoY.
Downloads of U.S. Telemedicine apps from leading telehealth companies have reported dramatic increases in demand for their services in the US since the COVID-19 pandemic began, according to GlobalData, a leading data, and analytics company. Some of the biggest benefiters have been the Synzi Virtual Care app for physicians, which saw a whole
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Amwell Appoints Amazon Exec Serkan Kutan as Chief Technology Officer
Serkan Kutan, CTO at Amwell
Amwell,
a national telehealth
provider, announced today that Serkan Kutan has joined the company as
Chief Technology Officer. As part of his new role as CTO, Serkan will lead
building upon and further scaling Amwell’s national telehealth platform to
serve the needs of hospitals and health systems, health plans, innovators, and
patients.
“Serkan’s experience in innovating, building and maturing transformative healthcare technologies will play a significant
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Virtually or In-Person, Automation Improves The Healthcare Experience
Muthu Alagappan, MD, Medical Director at Notable Health
The COVID-19 pandemic has caused an unprecedented shift in the way consumers view and access a variety of goods and services—and healthcare is no exception. Recent studies show that many patients, including vulnerable populations like those living with cancer, are delaying recommended care and procedures—and will continue to do so for at least several months amid fears over the safety of in-person visits. In response, reports of
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2020 MedTech Breakthrough Award Winners Announced
What You Should Know:
- MedTech Breakthrough announces 2020 MedTech Breakthrough Award Winners that recognizes the top companies, people, platforms, and products in the health, fitness, and medical technology industries today.
- The 2020 MedTech Breakthrough Awards program is open to all individuals, companies, and organizations involved in producing digital health and medical technology products and services.
MedTech
Breakthrough, a market intelligence organization that
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Amwell Raises $194M to Expand Telehealth Platform to Combat COVID-19 Pandemic
What You Should Know:
- Telehealth leader American Well (Amwell) raises $194 million in Series C funding in an effort to expand to better serve patients and healthcare providers amid the COVID-19 pandemic.
- As COVID-19 swept across the United States, Amwell has seen a significant expansion in the usage of its core Amwell Platform.
American Well® (Amwell), a
national telehealth technology
and services company announced it has raised $194 million in Series C funding
with
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COVID-19 and Its Global Impact on Primary Care Virtual Consultations
Last week saw Teladoc Health release its 1Q20 financial results giving the US telehealth industry a first glimpse of how COVID-19 is impacting the ambulatory virtual care market. Discussion around the crisis and its impact on telehealth has been rife since early March and the data published by Teladoc Health highlights that this was justified.
The company reported that the number of virtual care consults in the quarter had passed the 2 million mark, up approximately 60% from the 1.24M
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KLAS: COVID-19 Guide to Telehealth Virtual Care & Remote Care Platforms
What You Should Know:
- New KLAS telehealth reports aims to aims to provide high-level COVID-19 guidance helpful to healthcare organizations on the virtual care and remote care platform vendor landscape.
- Includes high-level overviews of validated vendors’ current customer satisfaction, key questions to consider in building a strategy, and a consolidated view of KLAS’ previously published telehealth reports.
Telehealth
adoption in healthcare until recently had been increasing at a
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Redox Launches Rapid Deployment Telehealth Model for Providers to Go-Live in Less Than 2 Weeks
What You Should Know:
- Redox today announced a new rapid-deployment program that helps telehealth software vendors go live and integrate with healthcare organizations in less than two weeks - a process that typically takes 16-18 weeks.
- Telehealth as a virtual care model has been available for years, but only now is it taking center stage as the primary method to provide care in a world of social distancing. But deploying a telehealth solution at a healthcare organization is complex and
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