UhX telehealth partner, Teladoc, provides a full suite of virtual care services giving UhX members access to over 3,100 physicians in the US and over 53,000 specialists around the world for expert medical opinions through Best Doctors.
With plans set on a global reach, Teladoc announced that it was acquiring the virtual care platform Advanced Medical for $352 million. The acquisition will not only help Teladoc expand its clinical services internationally, but enable the company to serve multinational organizations, like UhX, and cater to patients in more languages.
Barcelona, Spain-based Advanced Medical has eight international offices including locations in China, Brazil, the US, Portugal, Hungary, the UK and Chile. The newly acquired company has the capability to provide care in 20 languages, which will now be available to UhX members.
Advanced Medical was founded in 1999 and has more than 450 doctors on staff. The platform has reached more than 125 countries and provides services in more than 20 languages. Currently the company offers behavioral care, expert medical opinion, enterprise support, global care on demand, specialty pharmaceutical management, and virtual primary care.
“It really means anywhere in the world a member of Teladoc can get access to a full suite of clinical care whether they are episodic and symptomatic at the time or whether they have or a more complex issue that requires a deep understanding of the condition and the patients’ situation,” Teladoc CEO Jason said. “What is equally important is understanding the local dynamics of the healthcare delivery system. For example, if an employee of a US multinational employer is stationed in China or is traveling to China, we not only have the the ability to deliver care in their language, we have people on the ground in China who understand the local medical delivery system and can help the members navigate through that system — where the best places to get care are and who the physicians are who can help them in their language.”
According to Teladoc’s research, data shows the private health insurance market outside the US is just as big as the health insurance market in the US and is on a trajectory to double over the next few years.
UhX plans to displace the traditional health insurance model with our UhX Community Cost Sharing and Direct Pay models leveraging the capabilities of blockchain and cryptocurrency technology.
The other good news that aligns UhX with Teladoc’s expansion plans was the announcement in February that the company is teaming up with IBM Watson to launch an oncology insights program. UhX will leverage that program with the two companies and expand the Watson service offerings to other conditions.
But Gorevic said there is a method and overall vision to these latest acquisitions and partnerships.
The IBM Watson partnership is a great example of leveraging advanced technology and analytics to supplement what the physicians can do collaboratively. Another example is that IBM Watson is able to track all of the clinical trials going around all over the world and match UhX members to those clinical trials, which would be impossible for any physician or health system to keep track of themselves.
The UhX team looks forward to continuing to expand its Teladoc relationship internationally with the Advanced Medical team as well.