Livongo, Teladoc and One Medical are some of the digital health stocks on a tear as the coronavirus forces patients to seek medical care from home.
, a partner at Bessemer Venture Partners who's been exploring the health-tech space for more than a decade, said that it used to be a "Sisyphean task" to move telemedicine forward. The pandemic has changed the landscape.
Piper Sandler analysts estimate that the new contract could provide Livongo with 10,000 more customers this year, and said the company is positioned to pick up business from Medicare recipients, whose age makes them more likely to have high blood pressure or diabetes. Covid-19 "has been beneficial for our business, which is hard to say," Tullman said. "You never want to benefit from something so terrible, but we are where we are."in its earnings report at the end of April, after remote health visits jumped 92% from the prior year.But even with the huge increase in demand, telehealth remains a costly business because companies need to hire expensive medical experts to scale up.
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