Telehealth provider Teladoc Health has recently announced its partnership with Amazon’s Benefits Connector marketplace, allowing eligible users to easily find and enroll in Teladoc’s chronic care programs for conditions like diabetes, hypertension, pre-diabetes, and weight management. This collaboration was revealed by Teladoc executives at the J.P. Morgan Healthcare Conference in San Francisco.
The Benefits Connector platform was initially launched by Amazon in partnership with chronic condition management company Omada. Over the past year, Amazon has expanded this initiative to include other digital health companies such as Talkspace, Rula, and Hinge Health. The platform matches users with digital health programs and checks if the benefits are covered by their insurance plan or employer, enabling eligible users to apply for these programs.
Teladoc’s chronic care programs have been a significant growth driver for the telehealth firm, with over one million active enrollees currently participating in these programs. By featuring Teladoc’s offerings on the Benefits Connector platform, eligible consumers can easily access these programs and receive the necessary care for their chronic conditions.
Teladoc has been focusing on cost-cutting and business restructuring over the past year, as the company’s stock price has faced challenges following the peak of virtual care utilization during the COVID-19 pandemic. Chuck Divita, Teladoc’s CEO, who took on the role in June following the departure of longtime CEO Jason Gorevic, expressed optimism about the partnership with Amazon and the potential for growth on the platform.
In the third quarter, Teladoc reported a net loss of $33.3 million on revenue of $640.5 million, compared to a loss of $57.1 million on $660.2 million in revenue during the same period last year. The company is set to announce its fourth-quarter earnings at the end of next month.
Overall, the collaboration between Teladoc Health and Amazon’s Benefits Connector platform is expected to streamline access to chronic care programs for consumers and drive enrollment in Teladoc’s offerings, ultimately benefiting those in need of ongoing care and support for their chronic conditions.
