It makes sense as an investor to follow trends (to an extent!). Telehealth is definitely a concept that has grown in popularity because of the COVID-19 pandemic, and the trend will likely continue to expand after coronavirus fears are gone.
Telehealth makes sense from a lot of angles, even in a world without the concern of catching coronavirus in a doctor’s office. Insurance companies like telehealth because it cuts down on costs associated with having to go to a doctor’s office or hospital for basic medical care. Patients see telehealth visits as more convenient than schlepping across town to cool their heels reading two-year-old magazines while waiting for an appointment.
According to a 2018 report, telehealth is expected to be a $185 billion market by 2026. Two things making telehealth more effective are better remote monitoring devices and improved telecommunication technology, such as 5G internet speeds.