Telemedicine Unicorn Teladoc Releases 2016Q4 Financial Report: Annual Revenue of $123 Million
Recently, the listed telemedicine unicorn company Teladoc released its fourth quarter 2016 financial report. For the development and layout of 2016, Teladoc executives shared some beautiful figures, as well as the progress of strategic partners and legislation, which promoted Teladoc is constantly climbing up and moving forward. The financial report shows that Teladoc's membership has surged to 17.5 million, an increase of 43% year-on-year. A total of 310,467 visits were made in the fourth quarter, an increase of 68% from the fourth quarter of 2015. In 2016, there were 952,081 visits, a year-on-year increase of 65%. Total revenue for the fourth quarter of 2016 was $37.4 million, with a loss of $14.3 million, and revenue increased by 65% ​​from the same period last year. At the same time, annual revenue increased by 59%, and 2016 annual revenue reached $123 million. Three major growth highlights Increase membership, improve revenue and increase traffic is Teladoc fourth quarter 2016 earnings report highlights, for telemedicine provider, whether made progress in 2016, also related to the success. “In contrast to the strong performance in 2016, I am proud of the company’s milestones in the industry and we continue to fulfill our mission to provide a better medical experience for our customers and partners,†said Jalan Gorevic, President and CEO, Teladoc Said. Teladoc President and CEO Jason Gorevi The company also took the opportunity to announce the appointment of Ken Paulus as a board member of Teladoc. Paulus is President and CEO of Allina Health, a medical system for clinics, hospitals and professional care centers. “In this year, there have been many milestones, such as the company’s completion of the 2 millionth telemedicine visit, which shows that through our partners, we have saved more than $900 million in expenses for the US medical system,†Gorevic said. "It took us about 12 years to complete a million visits, but from 1 million to 2 million times, it took only 14 months. Obviously, this shows that telemedicine has developed to the point of explosion and critical point. †According to Gorevic, the 2016 Teladoc mobile app has more than 600,000 home downloads, which shows an increase in consumer engagement. In terms of the number of customers, the company has grown in every sales channel and market segment. The core market of health plan and large employers brought 1,500 new corporate customers. New famous corporate customers include Bed, Bath & Beyond, Takeda. , Magellan and Petco, but for now, small and medium-sized businesses are still one of Teladoc's fastest growing channels.
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