Credit Suisse’s https://www.credit-suisse.com quick thoughts on the announcement by Teladoc Health (TDOC) that the new integration with Amazon Alexa will be launched with voice activated general medical virtual care on supported Echo devices (e.g. Echo, Echo Dot, and Echo Show).
While the integration is unlikely to result in significant near term financial benefits, Credit Suisse analysts believe this could open up opportunities for the two companies to collaborate in the future. With Amazon pitching their own virtual care product, Amazon Care to employers and health plans, the news of the Alexa/Teladoc integration could signal an opportunity for TDOC as it relates to Amazon Care.
Finally, the TDOC-Amazon partnership continues the wave where Tech-giants have continued to look for ways to collaborate (or in some cases acquire) with the HCIT/Digital Health companies: Teladoc/Microsoft, Amwell/Google, Cerner/Oracle, etc.
Interestingly, voice-enabled care using Alexa is not necessarily new to TDOC. Livongo has an ongoing collaboration with Amazon and Amazon Alexa to power voice-enabled cellular blood glucose monitoring (i.e. Livongo for Diabetes) as well as voice-enabled cellular blood pressure monitoring (i.e. Livongo for Hypertension). The Livongo/Amazon Alexa partnership goes back to April 2019.
Amazon is also a customer of Livongo’s mental health product, myStrength, which TDOC and Livongo enhanced and now refer to as myStrength Complete. As a result, the news of Teladoc becoming integrated with Alexa for general medical care was seemingly buoyed by an existing partnership Livongo had in place.
According to the release, customers in the U.S will now be able to connect with a Teladoc care provider 24/7 from supported Echo devices for general medical needs. The Teladoc Alexa integration will initially launch via audio with video visits reportedly coming soon.
In terms of how it will work, consumers can say. “Alexa, I want to talk to a doctor,” to their supported Echo device to get connected with the Teladoc call center. Customers will then get a call back on their Echo devices from a Teladoc doctor for virtual visits related to non-emergency health needs (e.g. cold, flu, or allergies). The cost per visit can be as low as $0 per visit with insurance or $75 without insurance.
For more information, ask questions, provide feedback, or news, email Jailendra Singh at jailendra.singh@credit-suisse.com or call 212-325-8121.