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Telemedicine, the new frontier of digitalization

by Thomas

By now you have to get used to it, internet has changed our lives for a few years while Covid 19 has accelerated this process, we have arrived at telemedicine, the new frontier of digitization. I’m going to do a short analysis and add names of some publicly traded companies that have growth opportunities now and for years to come, so why not think about making a long-term investment?

The reasons for telemedicine’s development you can imagine them, (Covid 19 has paralyzed the world), with this keyword I mean digitization applied to medicine, for example talking to doctor through computer, paying the visit by credit card and in the future much more because artificial intelligence will dominate most sectors.

The relationship between doctors and patients has really changed, patients have had the opportunity to continue medical care without interruption, screen sharing platforms or applications on the smartphone have compensated for this moment. I think telemedicine will grow a lot over the years, it’s enough to look at data in fact 50 billion dollars were spent 10 years ago and it is expected that the figure will be two or three times higher than 2030.

Countries that are investing the most in this technology are United States, China, Israel while in Europe we have Germany, Switzerland and Sweden although compared to the top three they still have a long way to go. Unfortunately telemedicine in Europe is penalized by laws such as privacy and other things that instead of supporting development act as a brake, this is the largest limit of European Union given the lack of cooperation between member states.

In United States, two companies have distinguished themselves, Amwell a platform that allows you to schedule visits (think that requests in March exploded) between doctors and patients in addition to other features. Amwell’s emergency situation has doubled employees’s number in customer service by technologically supporting users, some sources say that servers have been stormed since 7/7 days service.

Teladoc (Isin us87918a1051) is another company that works in telemedicine, in the last 5 years has bought 3 major companies strengthening its market position and registering a capitalization of more than 4.5 billion dollars. Turnover in 2020 will be incredible and given technological development I think the next few years will be important.

Two other telemedicine companies are to be monitored if anyone wants to invest: Livongo Health (Isin us5391831030) Zur Rose (Isin ch0042615283). Covid 19 will not be defeated easily, even if they produce a vaccine the unknown will always remain, I add the problem of asymptomatic people and the ability to change virus worrie me enough.

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