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Although not behavioral health-specific companies, I've included these because they are important comps for existing behavioral health companies. Many of them are public and therefore release their quarterly earnings that we can analyze.
Teladoc is the largest provider of virtual healthcare services with 6 core product offerings**.** Check out Stephen Hay's Deep Dive into Teladoc on the Stigma Podcast.
- Teladoc's core Telehealth offering is to payers with a ****monthly subscription access fee where visits cost around $49 and doctors make around $25 per visit. Doctors are like Uber drivers who are able to work on their own schedule.
- Better health is direct to consumer behavioral health where consumers pay $40 to 70 weekly and are matched with a therapist through a questionnaire.
- Best Doctors is a second opinion doctor service.
- Healthiest U is a consumer engagement platform offered through the acquisition of HealthiestU.
- Advanced medical was acquired in July 2018 and helped expand Teladoc internationally.
- Teladoc licenses their business to health systems and hospitals to configure their service.
Some Stats
- In a study done by JP Morgan equity research, 40% of employer respondents said they used Teladoc. Teladoc rated number one in terms of happiness with their provider.
- 2020 Q4 revenue grows 145% year-over-year to $383.3 million and total visits increase 139% to 3.0 million.
- Full year 2020 revenue grows 98% year-over-year to $1,094 million and total visits increase 156% to 10.6 million.
M&A/Relationships
- Ameridoc for $17 million 2014
- HealthiestU acquisition for $125 million in 2016 got them access to United health (now a shareholder in Teladoc) and access to Tri-Care and Medicaid populations.
- Best doctors for $450 million 2017
- Advanced medical for $350 million in 2018