Revealed: Is Telemedicine the World's Most Profitable Investment?
This is-undoubtedly- a big question: Is telemedicine proving to be the new kid on the bloc of the most profitable investments in the US and the world in 2021? Just consider these facts: While we all agree 2020 was a relatively 'crazy year-' thinking of the coronavirus pandemic- Teledoc Health services ran a business worth an astounding $209.42 in stocks (up from $83.26 in the previous year). These figures represented an incredible growth 152% by December 23, 2020. What does all this say about telemedicine's future? Yes, the pundits have posed the question: What really sent the stocks flying in this unprecedented manner?
Interestingly, we have to think back to get everything right: The emergence of the Covid- 19 pandemic sometime in early 2020 meant that people had to develop new ideas to manage the emerging health issues. Why? Many consumers had no option but to remain at home during the seemingly endless lockdowns. Then came the answer in a rather unexpected situation- the rise in telehealth services. Once this happened, the era of telehealth services was ushered in. Soon, this form of service skyrocketed and became so popular that it quickly became the modus operandi. By the end of 2021, hundreds of doctors in the US were poised to log over a billion virtual visits. Not only was this astounding, but it was also unprecedented.
Today, many health professionals admit that we've effectively ushered in a new era in the history of medicine. In other words, humanity has actually turned a corner, marking a revolution in the way doctors practice medicine. And there's another, more interesting fact- by the beginning of 2021, many doctors in the US reported that most virtual visits were utterly unrelated to the Covid 19 problem. In other words, patients are opting for virtual consultation and diagnosis purely as a matter of personal preference.
Listen to what Jason Gorevic, the CEO at Teladoc had to say on this phenomenon: 'Without a doubt, we've transitioned to the situation where many physicians and consumers consider telehealth as the best way to dispense and access health care.' Because of this seismic shift in the way medics practice medicine, there's unprecedented demand for a singular (centralized) telehealth platform that can cater to primary care, allied health, educational resources, and mental health in a roller-coaster.' Yes, this means that medicine has finally moved on; there's no guarantee that it will ever return to its former station.
Medics were-generally- never in doubt regarding the future of the Covid 19 health crisis in the US and other parts of the world. Why, most health professionals knew well (from scientific analysis) that the second or subsequent wave of the coronavirus would be worse. Think of it, the first wave of the pandemic almost overwhelmed the world's healthcare systems. Economies everywhere on the globe were virtually devastated. The pandemic affected many people's mental health and well-being. The challenge of depression and anxiety became a new issue of national debate. New cases of these ailments soared frighteningly.
In June 2020, a new survey by the US Centers for Disease Control (CDC) revealed that almost 41% of adults in the US had undergone some 'unusual behavioral or mental health condition.' Such conditions included post-traumatic stress, anxiety, substance abuse, and depression. Amazingly these figures were three to four times the situation in 2019. Further, 10.7 % of the people interviewed admitted that-at one point in the previous 30 days- they seriously thought about ending their lives. Of course, to these, it seemed like the only solution to their problems.
The American Medical Association (AMA) says that 'over 35 of the US states have reported a phenomenal increase in opioid-linked mortality. Moreover, within the same states, AMA reported a rising concern for people with substance abuse disorder and mental health issues.'
But- soon- there was unexpected good news regarding a modern, high-tech solution to the Covid-19- related emerging medical challenges. In a press release, CloudMD, which previously ran a successful medical service in Canada, announced it was launching its ultra-modern mental health support services and technology in the US. The company planned to drive its expansion programs all over the country. CloudMD would do this in collaboration with the newly acquired RXi Group. They planned to run a well-established 'One-stop patient support logistics agency' and provide customer-related management services.