Kevin JohnsonTeladoc is telemedicine and virtual healthcare company based in Purchase, Harrison, New York. The company was founded in 2002 by Byron Brooks and Michael Gorton to offer health services via online channels.
In 2015, Teladoc went public and expanded its virtual care services for urgent and primary care and mental health accessible through its BetterHelp. The company acquired Livongo in 2020 for $18.5 billion to become one of the largest companies in the telemedicine space.
In 2021, Teladoc had around 5,100 employees and generated $2.03 billion in revenue. The telehealth giant expects net income growth of between $367 million to $467 million by the end of 2022. [1]
Teladoc offers telehealth services and devices, medical opinions, AI and analytics, and licensable platform services. According to Teladoc CEO Jason Gorevic, the company’s full suite of solutions guarantees its leadership in the sector. In 2021, about 70% of Teladoc’s bookings were for multiproduct sales.
The company reported high double-digit revenue growth throughout 2020 and 2021. It attracted 3.9 million visitors during this period, up 37% from 2020. But Teladoc faces stiff competition from Amwell, OneMedical, Sesame Care, PlushCare, Amazon Care, MDLive, Walmart Health Virtual Care, and HealthTap. [2]
Here is an in-depth analysis of top Teladoc’s competitors and alternatives:
1. Amwell
Year founded: 2006
Headquarter: Boston, Massachusetts
Formerly known as American Well, Amwell is a telemedicine company. The company went public in 2020 and raised $742 million. In 2021, Amwell had 812 employees and generated $252.8 million in revenue.
Amwell is expanding its mental health offerings through acquisition and strategic partnerships. In Aug 2021, the company acquired SilverCloud Health and integrated it into its ecosystem. Amwell also collaborates with Google Cloud and Apple on technology and innovation.
In 2021, Google’s parent company Alphabet invested $100 million in Amwell. These strategic partnerships attract long-term investors, boosting Amwell’s financial position. The company had 5.8 million visits and reached 91,000 active providers in 2021. Amwell is the top Teladoc competitor and alternative in the telehealth space. [3]
2. OneMedical
Year founded: 2007
Headquarter: San Francisco, California
One Medical is a membership-based primary care service officially known as 1Life Healthcare. The company offers in-person care and telehealth via a mobile app. In 2021, 1Life had around 2,900 employees and reported a 64% increase in revenue to $623.3 million. [4]
One Medical requires membership to access its services. Its annual subscription costs $199. In 2020, the company went public and offered 17.5 million shares for its IPO. Unlike Teladoc, One Medical is not pure play. It has over 100 medical offices but also engages in the telehealth sector.
In 2021, One Medical reported a 34% increase in membership to 736,000, including 703,000 enterprise members and 33,000 in the at-risk category. One Medical is one of the best alternatives to Teladoc.
3. Sesame Care
Year founded: 2018
Headquarter: Brooklyn, New York
Sesame Care is a startup that offers cash-pay telehealth and in-person visits. Its marketplace gives patients access to more than 16,000 healthcare providers who accept cash payments and do not require insurance. In Apr 2021, Sesame secured $24 million in new financing and inched closer to $50 million in total funding.
The main selling point for Sesame Care is its cash-pay policy, enticing millions of consumers without insurance. Moreover, paying cash is often less expensive than health insurance copay.
In Feb 2022, the company launched Sesame for Employers to offer employee healthcare services. Sesame Care is one of the fastest-growing alternatives to Teladoc. [5]
4. PlushCare
Year founded: 2013
Headquarter: Seattle, Washington
PlushCare is a leading provider of virtual primary care and mental health treatment. Patients can book video appointments online or via its app. In Jun 2021, Accolade, Inc. acquired PlushCare for $450 million.
Accolade and PlushCare have over $200bn combined total addressable market. PlushCare offers flexible appointments for primary care and treatments, from head to toe.
And Accolade is renowned for delivering cost savings through member insights, high engagement, and advocacy. As Accolade’s subsidiary, PlushCare has enough resources to grab Teladoc’s market share. [6]
5. Amazon Care
Year founded: 2019
Headquarter: Seattle, Washington
Amazon Care provides in-person and virtual care via a mobile app that allows patients to video chat with physicians. The service launched after Amazon acquired PillPack in 2018 and expanded to serve all Amazon employees. In 2021, Amazon generated $469.8 billion in revenue.
Although Amazon Care is the new kid on the block, it is already threatening Teladoc. It offers urgent and primary care services to Amazon employees and other companies, including Whole Foods Market, Silicon Labs, and TrueBlue.
In 2022, Amazon Care will expand its in-person care services to more than 20 new cities. Its virtual health services are available across the US. Amazon Care is a formidable Teladoc competitor. [7]
6. Walmart Health Virtual Care (formerly MeMD)
Year founded: 2010
Headquarter: Phoenix, Arizona
Formerly MeMD, Walmart Health Virtual Care is a telehealth company that operates 56 clinics in six states. MeMD was founded by John Shufeldt, who also founded NextCare Urgent Care. In May 2022, Walmart acquired MeMD for $6 million and rebranded it to Walmart Health Virtual Care.
Walmart offers healthcare services via Walmart Health, with several clinics across the US. The retailer acquired MeMD to complement its brick-and-mortar clinics and expand its telehealth capabilities.
In 2022, Walmart will roll out MeMD services in its new clinics in Florida. Walmart Health Virtual Care is one of the best alternatives to Teladoc. [8]
7. HealthTap
Year founded: 2010
Headquarter: Mountain View, California
HealthTap is a virtual primary care technology company that offers a suite of connected health apps. It provides consumer telehealth services and caters to hospitals, insurance companies, and self-insured employers. In 2021, HealthTap’s network had 90,000 volunteer US doctors across 147 specialties.
HealthTap provides quality, affordable primary care to tens of millions of Americans. Hundreds of thousands of consumers use the platform each year for virtual visits. It charges $15/month for unlimited texting with doctors, $39 for video appointments, and $49 for 24/7 urgent care.
In Apr 2022, HealthTap joined Buoy Health’s marketplace. The company will provide virtual primary and urgent care to Buoy’s over 2 million monthly users. HealthTap is a worthy alternative to Teladoc. [9]
8. MDLive
Year founded: 2009
Headquarter: Miramar, Florida
MDLive is a telehealth company that offers virtual urgent and primary care. The company has several partnerships with healthcare providers across the US. In Apr 2021, Cigna’s Evernorth acquired MDLive to expand its telehealth capabilities. Evernorth also owns Express Scripts, eviCore, and specialty pharmacy Accredo.
MDLive offers dermatology for $95, counseling for $108, and psychiatric visits plus follow-ups for $284 + $108. Patients pay around $82 for urgent care visits. But the actual payable amount varies depending on the patient’s insurance.
With MDLive, Evernorth will offer 24/7 virtual care to members. MDLive is a worthy Teladoc competitor. [10]
9. Included Health (formerly Doctor on Demand)
Year founded: 2012
Headquarter: Australia
Doctor on Demand is a telehealth platform that allows patients to choose a specific doctor. The app has a “favorites” section where patients add a doctor when scheduling future appointments. This option is available after the first consultation. In Mar 2021, Doctor on Demand announced plans to merge with Grand Rounds to create a multibillion-dollar digital health firm. [11]
In May 2021, Doctor on Demand and Grand Rounds acquired the care navigation platform Included Health to strengthen their offerings. Included Health covers around 100 million members, focusing on the LGBTQ community.
In Oct 2021, Doctor on Demand merged with Grand Rounds and rebranded to Included Health. This merger brings together a virtual care company and two clinical navigators. Included Health is the best alternative to Teladoc for the LGBTQ community and the underserved population. [12]
10. CrelioHealth
Year founded: 2013
Headquarter: Pune, Maharashtra, India
Formerly Livehealth, CrelioHealth is an Indian healthcare company that offers virtual primary and urgent care. After signing up, members can select their favorite doctor and request a video consultation. The Pune-based company has around 70 employees.
CrelioHealth allows members to choose doctors in their state for video consultations. According to CrelioHealth Sales VP Niraj Desai, the company works with around 2,000 diagnostic centers and labs across India.
It offers virtual care services globally and uses a mobile app, WhatsApp, and other communication channels to improve the patient journey and experience. CrelioHealth is the best alternative to Teladoc in India. [13]
11. SimplePractice
Year founded: 2012
Headquarter: Los Angeles, California
SimplePractice is an online healthcare company. Its platform uses the EngageSmart healthcare solution to simplify the doctor-patient interaction and experience. In 2021, SimplePractice had around 60 employees.
SimplePractice helps health and wellness providers build a thriving practice. Its industry-leading software connects more than 100,000 practitioners with clients. Patients can find and request an appointment with a specialist and manage their virtual care journey in one place.
In Jan 2022, SimplePractice was named on Built In’s list of the best midsize companies to work for in Los Angeles. SimplePractice is an innovative Teladoc competitor. [14]
12. Doxy.me
Year founded: 2013
Headquarter: Rochester, New York
Doxy.me is the largest HIPAA-compliant telemedicine platform in the US. In 2021, Doxy.me connected more than 1 million healthcare providers to over 90 million patients. The company launched a podcast, Heroes of Doxy.me, in May 2022 to document the courageous stories of its 50 Ukraine-based employees impacted by war. Doxy.me employs around 150 people in the US and Western Europe. [15]
Doxy.me is a free telemedicine solution that allows patients to video chat with doctors. In Dec 2021, a CyberScoop report revealed that Google, Facebook, and HubSpot accessed user data via Doxy.me’s virtual waiting room. According to Doxy.me, the three platforms collect browser details to ensure their audio-video communication operates optimally. Doxy.me is an easy-to-use alternative to Teladoc. [16]
13. NextGen Healthcare
Year founded: 1973
Headquarter: Atlanta, Georgia
NextGen Healthcare is a leading provider of cloud-based healthcare tech solutions. The company develops electronic health record (EHR) software and practice management (PM) systems. In Jun 2022, NextGen’s EHR and PM solution was top-ranked by Black Book Research.
Both Teladoc and NextGen develop telehealth solutions. But NextGen specializes in EHR, while Teladoc focuses on virtual care services.
According to Black Book Research’s 2022 user survey, NextGen Enterprise is the No. 1 ambulatory EHR PM solution. This product has retained the No. 1 spot since 2018. NextGen is the top Teladoc competitor in the telehealth tech market. [17]
14. OhMD
Year founded: 2014
Headquarter: Burlington, Vermont
OhMD is a patient-centric communication and collaboration platform. It allows healthcare teams and patients to communicate directly with one another. In Feb 2022, OhMD closed its latest funding round led by FCA Venture Partners and Dudley Fund. [18]
In 2019, OhMD launched its modern patient-centric digital health solution. This industry-leading platform provides easy-to-use communication and collaboration tools, including text/SMS, live website chat, and telehealth video. OhMD is one of the best alternatives to Teladoc for virtual care services.
15. Centura Health
Year founded: 1996
Headquarter: Centennial, Colorado
Centura Health is a leading healthcare provider across Colorado and western Kansas. It operates 19 hospitals, 2 senior living communities, and several neighborhood health centers and clinics. In 2021, Centura Health had more than 6,000 physicians and 21,000 health care specialists.
Both Centura Health and Teladoc offer virtual healthcare services. Current Centura patients can schedule virtual visits by logging into their MyCenturaHealth portal. In May 2022, ten Centura hospitals received an “A” Leapfrog Hospital Safety Grade.
This award recognizes Centura’s efforts to protect patients from preventable illnesses. Centura Health is one of the best Teladoc competitors in Colorado and western Kansas. [19]
16. Microsoft’s Nuance DAX
Year founded: 1975
Headquarter: Redmond, Washington
In 2021, Microsoft acquired Nuance Communications, Inc. Nuance is a leader in conversational AI that operates Nuance Dragon Ambient Experience (DAX), a doctor-patient interactions app.
In Apr 2021, Microsoft integrated Nuance DAX with Teams as a part of its telehealth product. Microsoft’s Nuance DAX has enough resources to challenge Teladoc in the virtual healthcare industry. [20]
References & more information
- Landi, H. (2022, Jun 8). Teladoc was hit with a lawsuit alleging it misled investors after significant losses. Fierce Healthcare
- Reuter, E. (2021, Nov 1). Teladoc plans to fend off competitors by building a full suite of products. Med City News
- Adams, K. (2022, Feb 25). Amwell posts a $177M net loss for 2021. Becker Hospital Review
- 1Life Healthcare, Inc. (2022, Feb 23). One Medical Announces Results for Fourth Quarter and Full Year 2021. Globe Newswire
- Landi, H. (2022, Feb 17). Cash-pay healthcare startup Sesame jumps into the employer market. Fierce Healthcare
- Accolade, Inc. (2021, Jun 9). Accolade Completes Acquisition of PlushCare. Globe Newswire
- Amazon Staff (2022, Feb 8). Amazon Care is now available nationwide as demand continues to grow. Amazon.com
- Minemyer, P. (2022, May 19). MeMD rebrands as Walmart Health Virtual Care. Fierce Healthcare
- HealthTap (2022, Apr 5). HealthTap Joins Buoy Health’s Navigation Initiative to Match More People with the Right Health Care. PRNewswire
- Haefner, M. (2021, Apr 19). Cigna’s Evernorth completes the purchase of MDLive. Becker Payer
- Raypole, C. (2021, Dec 23). Doctor on Demand Review. Healthline
- Pifer, R. (2021, Oct 18). Doctor on Demand, Grand Rounds rebrand as Included Health to compete in crowded benefits space. Healthcare Dive
- eHealth Network (2021, Nov 25). Future of Digital Booking. Elets Online
- SimplePractice (2021, Jan 24). SimplePractice Named to Built In’s 2022 Best Places to Work Awards. Business Wire
- me Inc. (2022, May 5). US Health Tech Company Launches Podcast Mini-Series to Highlight Inspiring Stories from their Employees in Ukraine. PRNewswire
- Jercich, K. (2021, Dec 15). me leak exposes provider data to third parties. Healthcare IT News
- NextGen Healthcare (2022, Jun 6). NextGen Healthcare Named No. 1 Ambulatory EHR/PM Solution by Black Book Research for Fifth Consecutive Year. Business Wire
- OhMD, Inc. (2022, Feb 22). OhMD Closes Latest Round of Financing, Led by FCA Venture Partners. News Journal
- Centura Health (2022, May 10). Centura Health Nationally Recognized with Record Ten “A” Leapfrog Hospital Safety Grades. Globe Newswire
- TipRanks (2021, Apr 19). Teladoc: Competition is heating up in the Virtual Healthcare Space. Yahoo Finance
- Featured image by Hush Naidoo Jade Photography
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