Good evening, all.
Every industry, at some point, will be transformed and disrupted. One of those industries is healthcare.
Healthcare is a global, multi-trillion dollar industry.
One of the fastest growing trends in healthcare is telemedicine. Telemedicine is when you visit the doctor remotely instead of going to the office. This can be done using a desktop, laptop, tablet, or even your cell phone.
Remote medical visits are not for anything serious. They’re for illnesses like colds and flu – situations in which, if you visited in person, the doctor would send you home and tell you to let it take its course. Who wants to go out feeling awful only to be told to go back home and get some rest?
Technology has made telemedicine possible, and the timing couldn’t be better.
That’s why you should take a look at a company called Teladoc Health (NYSE:TDOC). Teladoc is a $4 billion company, and the leader in the telemedicine space.
- People are living longer. By 2035, people over the age of 65 will outnumber children.
- 30% of doctors are baby boomers and will be retiring soon, causing a shortage of doctors.
- Telemedicine has proven to be more efficient and cost-effective.
- 4 out of 5 people over the age of 50 have a chronic disease.
- 9 out of 10 people aged 60 or older have a chronic condition.
- There were close to one billion primary care visits last year.
The demand and need for this service is definitely there.
Although telemedicine is not perfect, it should no doubt get better over time.
To read more about Teladoc, check out its website.
To learn how to get started in investing, check out my book, The Stock Market is For Everyone.
Stay healthy and get wealthy, everyone! Until next time…
Disclaimer/Disclosure Statement: Information in this article is not intended to be a recommendation to invest in any stock. Rather, it is presented for readers’ education and consideration when making their own investment decisions. The author has no position in TDOC.
Click the image of the book at left to be taken to its Amazon page. (Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)