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Telehealth investments soar even as market matures – Healthcare Dive

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3 years ago

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Dive Brief:

  • Spurred by the COVID-19 pandemic, investments in telehealth reached a record $5 billion in the second quarter of this year, according to a new report by CB Insights. The investments are more than double what they were in the second quarter of 2020. Six telehealth firms also reached unicorn status.
  • However, it appears the sector is reaching a level of maturity. According to CB Insights, late-stage investments outpaced money going into early-stage deals. Moreover, investor exits also reached a record high.
  • Investments in traditional telemedicine platforms also saw an investment decline, with virtual care, remote monitoring and telepharmacy reaping growing shares of investments. Nevertheless, providers are still investing heavily in telemedicine to improve the experience for their patients.

Dive Insight:

It’s currently telehealth’s day in the sun. With a large portion of the world eschewing face-to-face contact in 2020 due to the COVID-19 pandemic, millions of patients flocked to telehealth for their care needs. Large companies such as Amazon also heavily invested in telehealth pilot programs for its employees.

Overall, global telehealth investments increased 169% from the second quarter of 2020, and were up 17% from the first quarter of 2021. The five largest deals were worth $1.6 billion, out of roughly $5 billion in total.

The CB Insights report also noted that there has been a shift in the way money is flowing into the segment. The teletherapy, coaching and care management segments accounted for 40% of all deals during the quarter. Meanwhile, investor exits from telemedicine platforms hit a record, while funding declined 43%. There was a similar level of activity for virtual and digital care enablement.

Nevertheless, traditional providers are still moving into the virtual space. About 60% of healthcare organizations are adding new digital initiatives, while 42% are accelerating some or all of their existing digital transition plans. And 75% say they are currently investing in telemedicine to improve their patient experience. That compares to 42% in 2019. The level of attention being paid to telemedicine by providers is currently higher than investments in EHR interoperability and patient portals and messaging systems.

Meanwhile, CB Insights has concluded that the use of telemedicine is stabilizing for the longer term. They comprised about 5% of medical claims as of April of this year, compared to 7% in January. The figure is similar to September of last year, as the pandemic hit a trough after its initial first waves.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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October 16, 2024

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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October 11, 2024

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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2 weeks ago

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October 10, 2024

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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