Technology is changing everything we do and the healthcare industry is at the forefront of this. Not only has technology allowed doctors to perform surgeries in a less invasive and better manner, but the way you even see a doctor is changing. This is all thanks to Teledoc.
Who is Teledoc (NYSE: TDOC)? They are a newer company whose goal is to make seeing the doctor easier and safer for all. The stock has been on a tear since its initial public offering in 2015, but this shouldn’t stop you from investing in it.
This is because Teledoc is the leader in a game changing industry. Let’s take a deeper look into this stock and why you should invest in it.
What Teledoc Does
Up until now, if you had a health related issue, you would call your primary care physician, make an appointment and go see them. While this method worked, it wasn’t ideal. You had to find a time that the doctor had available and then re-arrange your life around it.
You might have to take off work. You might have to bring your kids. And it wasn’t like you get in and get out. Most times you sit in the waiting room for 15 minutes or more waiting. As you do this, you get exposed to other people’s germs and their potential viruses.
Teledoc is completely changing this. Instead of calling a doctor, re-arranging your life and going in for a visit, you meet with a doctor over the phone, internet, or mobile device 24 hours a day.
You can remain in the comfort of your own home or take a 15 minute break at work when the doctor calls you. This efficiency saves time and money for everyone involved.
But it doesn’t end with medical doctors and basic care. Teledoc has a network of not only doctors, but also nurses, mental health experts and other medical experts you can consult with.
They have even partnered with over 250 hospitals and health systems. And the best part is you can upload pictures if you have a bruise or other visual issues for the doctor to look at and diagnose.
From there, many times they can write out a prescription and all you have to do is pick it up, or have it sent to your house for a low price.
Why Teledoc Is Stock You Should Invest In
Now that you know who Teledoc is and what they do, why should you invest in this stock? The simple reason is they are the leader in this industry and this industry is the future.
Now I know it can be scary investing in a new industry, but the risks with Teledoc are low. They are doing everything right.
As of this writing, the company is not profitable. But this isn’t a bad thing. They are reinvesting all of their cash to expand and retain a solid foothold on the industry so any newcomer cannot uproot them.
In the past couple of years, Teledoc has been making many acquisitions, and in 2017 they bought Best Doctors, which is a physician consulting service that weighs in with second opinions on complex issues.
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For 2018, sales are expected to increase by 53% compared to 2017 and the company is expected to grow by at least 20% annually over the next 5 years. If you do the math, that means they expect to triple the company during that time.
When Teledoc first started, the majority of its users were those who were introduced to the company through their company’s healthcare insurance. My family was one of these users. When my daughter bumped her head, we used this service and it was a breeze.
It was a Sunday afternoon and the doctor’s office was closed. We assumed there was nothing to be concerned about, but was wanted to be sure. Our only option other than Teledoc was to visit the emergency room. We didn’t want to pay an arm and a leg by visiting the emergency, so we tried out Teledoc.
It took us 5 minutes to fill out the form online and in 15 minutes, a doctor video called with us. The whole process was smooth and easy and we now rely on this service more times than not.
Right now, 23 million people have access to the service, up from just 8 million a few years ago. And it was used 1.5 million times in 2017. This shows that the company is aggressively expanding and not only do more people have access to it, many are still learning about just how amazing it is.
At the end of the day, Teledoc is changing how you see the doctor. This is a huge benefit for everyone involved as it saves time and money. You don’t have to take off work or spend money on gas driving, or waiting at the doctor’s office. The doctor can potentially see more patients in a day, and you don’t run the risk of getting sick while at the doctor’s office.
In all, it is a win-win for everyone. And Teledoc as a company and stock is worth the investment. This is an opportunity to get in on the ground floor with an industry leader. In 10 years, when it is commonplace for you to video chat with your doctors as opposed to visiting them in the office, you will look back and wonder why you didn’t invest in this stock. Don’t make that mistake.
Do the research and see if Teledoc is a fit for your portfolio.
This author has no positions in any stock mentioned and does not plan to open any positions in any stocks mentioned for at least 72 hours after publication of this article.