Many employer-sponsored health plans and private health insurance carriers across the nation include Teladoc as part of their covered services.

Zocdoc has since announced the launch of Zocdoc Video Service, a HIPAA-compliant telehealth solution available completely free of charge.Ĭould a relative newbie in the telehealth sector threaten a veteran like Teladoc? Here's what investors should know.

Within seven days of launching virtual video visits, the company booked over 350,000 appointments in 50 different medical specialties. In April, Zocdoc, a popular medical appointment booking start-up, added virtual doctor visits to its list of services. The company already has plenty of competitors in the telehealth space, but a new frontrunner recently emerged. The company held its initial public offering (IPO) in 2015. In fact, the telehealth market is expected to experience 80% growth on a year-over-year basis due to the spike in demand stemming from the coronavirus crisis.įounded in 2002, Teladoc ( TDOC -2.58%) has risen to prominence over the last few years as the telehealth pioneer. As of 2017, the telemedicine market was valued at just under $30 billion. Since the beginning of the COVID-19 pandemic, the demand for quality telehealth services has seen a significant upswing. Another study released in May reported that between 20, telemedicine is expected to achieve a compound annual growth rate of 19%.

Roughly 76% of hospitals across the nation utilize video and other technology to connect healthcare providers with their patients, according to a study by the American Hospital Association. The demand for virtual health services has boomed.

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