Teladoc Posts $1 Billion Loss in 2024
Kris Gates
Let’s Talk Revenue for Preventive Care | #1 Supporter of “Preventive Pay” | Rethink Healthcare to be accessible, affordable, and high-quality
Investor Call Q4 2024
During its fourth-quarter 2024 earnings call with investors, Teladoc Health executives emphasized the company’s “strong finish” to the year despite posting a $1 billion loss for its full fiscal year in 2024. Teladoc executives cited strong customer interest in its recent weight management solution and the addition of 4 million members to attain a 6% growth in visit volumes during the year.
Telehealth Extension Expires Soon
2025 may be an even harder road for telehealth providers as the telehealth extension for Medicare is set to expire in the looming government shutdown. The House of Representatives voted 217-213 to pass a continuing resolution that funds the government until Sept. 30, 2025, and extends expiring Medicare telehealth flexibilities until the same date.
The Senate must act on the bill for an extension September.
$1 Billion
BetterHelp was the primary cause of Teladoc's losses in 2024 due to a $790 million goodwill impairment charge that hit the company in the second quarter. An impairment charge in accounting is a reduction in the carrying value of an asset on a balance sheet, reflecting a decline in its fair value below its book value.? An impairment charge occurs when an asset's value, as recorded on a company's books, is deemed to be greater than its actual market value or recoverable amount.
Factors that can trigger an impairment charge include:
Teladoc Future and Lost Customer
Teladoc indicated it is leveraging chronic care management virtual programs and its growth in international markets to help the company hit its 2025 goals.
Teladoc is also building new partnerships such as its acquisition of Catapult and its contract with TRICARE. Company executives also cautioned about the impact of market headwinds including foreign exchange, inflation and the regulatory landscape.
Furthermore, Teladoc executives revealed the company lost a customer at the beginning of the month, which could impact financial performance.
Kris Gates, [email protected]
CEO, CCO, Private & Public Board Director - Strategy Visionary, Efficient Operations, and Growth Accelerator. Passion for improving healthcare quality, access, and cost. Customer advocate.
10 小时前I believe Teledoc is missing the biggest opportunity to dramatically improve outcomes. So much of what they do to day is convenience, which is great, but is the lowest value to society. Remember 5% of the US population drives more than 50% of the cost. This is the real opportunity to impact with remote care. These people are hyper impacted by delays in care. Remote care can change the outcomes, improve quality of life and cut costs.
Thank you for the great right up and sharing!
Employee Benefits $avior: Your company is overspending on medical claims, and we can fix that. We reduce costs, improve employee satisfaction, and make healthcare easier to navigate.
17 小时前Thanks for sharing.