Telehealth Trends: Five funding trends in the last 12 months

Exec Summary:

The five funding trends for Telehealth in 2023 are 1) Gastrointestinal care 2) Mental health 3) Weight management 4) Women's health 5) Wound care.

The telehealth industry has seen a significant increase in funding in recent years, with the global market size expected to reach $634.7 billion by 2027.

This growth is being driven by a number of factors, including the COVID-19 pandemic, which accelerated the adoption of telehealth services, and the increasing demand for convenient and affordable healthcare options.

Here are some of the recent funding trends in the telehealth industry:

• Increased funding for startups: In 2022, venture capitalists invested a record $27.5 billion in telehealth startups, up from $16.8 billion in 2021. This trend is expected to continue in 2023, as investors look to capitalize on the growth of the telehealth market.
• Focus on specific areas: Investors are increasingly focusing on specific areas of telehealth, such as mental health, chronic care management, and women's health. This is because these areas have a large and growing patient population that is underserved by traditional healthcare providers.
• Development of new technologies: Telehealth providers are developing new technologies to improve the quality and efficiency of care. These technologies include virtual reality, artificial intelligence, and remote patient monitoring.
• Collaboration between healthcare providers and technology companies: Healthcare providers and technology companies are increasingly collaborating to develop and deliver telehealth services. This collaboration is helping to bring telehealth to more patients and improve the quality of care.

The telehealth industry is still in its early stages of development, but it is growing rapidly.

The recent funding trends suggest that the industry is poised for continued growth in the years to come.

Here are some specific examples of recent funding rounds in the telehealth industry:

• In April 2023, Avi Medical, a German telehealth startup, raised €50 million in Series B funding.
• In May 2023, Ginger, a US-based mental health telehealth company, raised $100 million in Series D funding.
• In June 2023, Medoc, a Brazilian telehealth company, raised $50 million in Series C funding.
• In July 2023, WellDoc, a US-based chronic care management telehealth company, raised $75 million in Series C funding.
• In August 2023, Women's Telehealth, a US-based women's health telehealth company, raised $30 million in Series A funding.

These funding rounds demonstrate the continued interest of investors in the telehealth industry. The telehealth industry is poised for continued growth in the years to come, as it provides a convenient and affordable way to deliver healthcare to patients.

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Telehealth Trend 1: Gastrointestinal care

Telehealth is the use of telecommunications technology to provide medical care from a distance. This can include virtual visits with doctors, nurses, and other healthcare providers. Telehealth can be used for a variety of medical conditions, including gastrointestinal (GI) care.

There are a number of benefits to using telehealth for GI care. First, it can provide patients with convenient and affordable access to care. Patients can see a provider from the comfort of their own homes, without having to travel to a clinic or hospital. This can be especially beneficial for patients who live in rural areas or who have difficulty traveling.

Second, telehealth can help to improve patient satisfaction. Patients who use telehealth for GI care often report being more satisfied with their care than patients who see providers in person. This is likely due to the convenience and flexibility of telehealth, as well as the fact that patients feel more comfortable talking about sensitive GI issues with a provider in a private setting.

Third, telehealth can help to improve the quality of GI care. Providers who use telehealth have access to the same diagnostic tools and resources as providers who see patients in person. This means that patients can receive the same level of care, regardless of whether they see a provider in person or virtually.

In addition to the benefits for patients, telehealth also has benefits for providers. Providers who use telehealth can see more patients in a day, which can help to improve their productivity and efficiency. Telehealth can also help to reduce healthcare costs, as it can eliminate the need for patients to travel to clinics or hospitals for care.

Overall, telehealth is a valuable tool for providing GI care. It can provide patients with convenient, affordable, and high-quality care. Providers who use telehealth can see more patients in a day and reduce healthcare costs. As the telehealth industry continues to grow, it is likely that telehealth will become an increasingly common method for providing GI care.

Here are some examples of telehealth services that can be used for GI care:

• Virtual visits with a gastroenterologist: Patients can see a gastroenterologist online for a variety of GI conditions, such as irritable bowel syndrome (IBS), inflammatory bowel disease (IBD), and acid reflux disease.
• Telehealth monitoring: Patients can use telehealth devices to monitor their GI symptoms and share the data with their provider. This can help providers to track patients' progress and make adjustments to treatment plans as needed.
• Telehealth education: Providers can use telehealth to provide patients with education about GI conditions and treatment options. This can help patients to better understand their condition and make informed decisions about their care.

There has been a significant increase in funding for telehealth gastrointestinal care in 2023. This is likely due to the growing demand for telehealth services and the potential for telehealth to improve outcomes and reduce costs for patients with GI conditions.

Here are some examples of recent funding rounds for telehealth gastrointestinal care companies:

• Oshi Health raised $30 million in Series B funding in April 2023. The company provides virtual care for patients with GI conditions, such as irritable bowel syndrome (IBS), inflammatory bowel disease (IBD), and acid reflux disease.
• Vivante Health raised $16 million in Series A funding in March 2022. The company provides virtual care for patients with chronic GI conditions, such as gastroparesis and functional dyspepsia.
• Ayble Health raised $4.6 million in seed funding in October 2022. The company develops a digestive care platform that combines dietary guidance with behavioral health tools.
• Salvo Health raised $10.5 million in seed funding in July 2022. The company provides virtual care for patients with chronic gut conditions, such as irritable bowel syndrome (IBS) and inflammatory bowel disease (IBD).

These are just a few examples of the recent funding rounds for telehealth gastrointestinal care companies. The telehealth gastrointestinal care industry is rapidly growing and investors are eager to support companies that are developing innovative solutions to improve patient care.

Telehealth Trend 2: Mental Health

Telehealth mental health is the use of telecommunications technology to provide mental health care from a distance. This can include virtual visits with therapists, psychiatrists, and other mental health professionals. Telehealth mental health can be used for a variety of mental health conditions, including depression, anxiety, and post-traumatic stress disorder (PTSD).

There are a number of benefits to using telehealth for mental health care. First, it can provide patients with convenient and affordable access to care. Patients can see a mental health professional from the comfort of their own homes, without having to travel to a clinic or hospital. This can be especially beneficial for patients who live in rural areas or who have difficulty traveling.

Second, telehealth can help to improve patient satisfaction. Patients who use telehealth for mental health care often report being more satisfied with their care than patients who see mental health professionals in person. This is likely due to the convenience and flexibility of telehealth, as well as the fact that patients feel more comfortable talking about sensitive mental health issues with a mental health professional in a private setting.

Third, telehealth can help to improve the quality of mental health care. Mental health professionals who use telehealth have access to the same diagnostic tools and resources as mental health professionals who see patients in person. This means that patients can receive the same level of care, regardless of whether they see a mental health professional in person or virtually.

In addition to the benefits for patients, telehealth also has benefits for mental health professionals. Mental health professionals who use telehealth can see more patients in a day, which can help to improve their productivity and efficiency. Telehealth can also help to reduce healthcare costs, as it can eliminate the need for patients to travel to clinics or hospitals for care.

Overall, telehealth is a valuable tool for providing mental health care. It can provide patients with convenient, affordable, and high-quality care. Mental health professionals who use telehealth can see more patients in a day and reduce healthcare costs. As the telehealth industry continues to grow, it is likely that telehealth will become an increasingly common method for providing mental health care.

Here are some examples of telehealth services that can be used for mental health care:

• Virtual visits with a therapist: Patients can see a therapist online for a variety of mental health conditions, such as depression, anxiety, and PTSD.
• Telehealth therapy groups: Patients can participate in therapy groups online with other patients who are experiencing similar challenges. This can be a valuable way for patients to connect with others and receive support.
• Telehealth medication management: Patients can see a psychiatrist online to discuss their medication and make adjustments as needed.
• Telehealth education: Mental health professionals can use telehealth to provide patients with education about mental health conditions and treatment options. This can help patients to better understand their condition and make informed decisions about their care.

There has been a significant increase in funding for telehealth mental health in 2023. This is likely due to the growing demand for telehealth services and the potential for telehealth to improve outcomes and reduce costs for patients with mental health conditions.

Here are some examples of recent funding rounds for telehealth mental health companies in 2023:

• BetterHelp raised $200 million in Series F funding in January 2023. The company provides online therapy to patients with a variety of mental health conditions.
• Headspace Health raised $100 million in Series D funding in February 2023. The company provides online therapy and mindfulness services to patients with a variety of mental health conditions.
• Talkspace raised $75 million in Series E funding in March 2023. The company provides online therapy to patients with a variety of mental health conditions.
• Cerebral raised $300 million in Series C funding in April 2023. The company provides online prescription medication for patients with mental health conditions.
• Regain raised $100 million in Series B funding in May 2023. The company provides online therapy to patients with a variety of mental health conditions.

These are just a few examples of the recent funding rounds for telehealth mental health companies in 2023. The telehealth mental health industry is rapidly growing and investors are eager to support companies that are developing innovative solutions to improve patient care.

The increased funding for telehealth mental health is a positive sign for patients with mental health conditions. It means that there are more options available for patients to receive convenient, affordable, and high-quality care. As the telehealth industry continues to grow, it is likely that telehealth will become an increasingly common method for providing mental health care.

In addition to the companies mentioned above, there are a number of other telehealth mental health companies that are receiving funding in 2023. These companies are developing a variety of innovative solutions to improve the delivery of mental health care, such as:

• Virtual reality therapy: This type of therapy uses virtual reality to immerse patients in a safe and controlled environment where they can work through their trauma or other mental health challenges.
• Group therapy: This type of therapy allows patients to connect with others who are experiencing similar challenges and receive support from a therapist.
• Medication management: This type of therapy allows patients to see a psychiatrist online to discuss their medication and make adjustments as needed.
• Telehealth education: Mental health professionals can use telehealth to provide patients with education about mental health conditions and treatment options. This can help patients to better understand their condition and make informed decisions about their care.

The telehealth mental health industry is rapidly growing and there are a number of innovative companies that are developing new ways to improve the delivery of mental health care. This is a positive sign for patients with mental health conditions, as it means that there are more options available for them to receive convenient, affordable, and high-quality care.

Telehealth Trend 3: Weight management

Telehealth weight management is the use of telecommunications technology to provide weight loss counseling and support from a distance. This can include virtual visits with a registered dietitian, certified personal trainer, or other weight loss specialist. Telehealth weight management can be a convenient and affordable way to lose weight, especially for people who live in rural areas or who have difficulty traveling to see a weight loss specialist in person.

There are a number of benefits to using telehealth for weight management. First, it can provide patients with convenient and affordable access to care. Patients can see a weight loss specialist from the comfort of their own homes, without having to travel to a clinic or hospital. This can be especially beneficial for patients who live in rural areas or who have difficulty traveling.

Second, telehealth can help to improve patient satisfaction. Patients who use telehealth for weight management often report being more satisfied with their care than patients who see weight loss specialists in person. This is likely due to the convenience and flexibility of telehealth, as well as the fact that patients feel more comfortable talking about sensitive weight loss issues with a weight loss specialist in a private setting.

Third, telehealth can help to improve the quality of weight management care. Weight loss specialists who use telehealth have access to the same resources and tools as weight loss specialists who see patients in person. This means that patients can receive the same level of care, regardless of whether they see a weight loss specialist in person or virtually.

In addition to the benefits for patients, telehealth also has benefits for weight loss specialists. Weight loss specialists who use telehealth can see more patients in a day, which can help to improve their productivity and efficiency. Telehealth can also help to reduce healthcare costs, as it can eliminate the need for patients to travel to clinics or hospitals for care.

Overall, telehealth is a valuable tool for weight management. It can provide patients with convenient, affordable, and high-quality care. Weight loss specialists who use telehealth can see more patients in a day and reduce healthcare costs. As the telehealth industry continues to grow, it is likely that telehealth will become an increasingly common method for providing weight management care.

Here are some examples of telehealth services that can be used for weight management:

• Virtual visits with a registered dietitian: Registered dietitians can provide patients with education about nutrition and weight loss, as well as help them to develop personalized meal plans.
• Virtual visits with a certified personal trainer: Certified personal trainers can provide patients with guidance on exercise and fitness, as well as help them to create a safe and effective exercise routine.
• Telehealth support groups: Telehealth support groups can provide patients with a community of people who are also trying to lose weight. This can be a valuable source of support and motivation.
• Telehealth education: Weight loss specialists can use telehealth to provide patients with education about weight loss and healthy living. This can help patients to better understand their condition and make informed decisions about their care.

There has been a significant increase in funding for telehealth weight management in 2023. This is likely due to the growing demand for telehealth services and the potential for telehealth to improve outcomes and reduce costs for patients with obesity.

Here are some examples of recent funding rounds for telehealth weight management companies in 2023:

• Calibrate raised $125 million in Series C funding in January 2023. The company provides a digital weight loss program that combines medication, including GLP-1 drugs, with behavior change delivered through a proprietary intensive lifestyle intervention.
• Virta Health raised $100 million in Series D funding in March 2023. The company provides a virtual diabetes prevention program that uses a combination of telemedicine, digital tools, and coaching to help patients lose weight and improve their metabolic health.
• Noom raised $50 million in Series E funding in May 2023. The company provides a weight loss program that uses a combination of cognitive behavioral therapy, personalized meal plans, and exercise tracking to help patients lose weight and keep it off.
• FoundMyFitness raised $25 million in Series A funding in June 2023. The company provides a personalized weight loss program that uses genetic testing, blood testing, and other data to create a customised plan for each patient.
• Wellory raised $10 million in Series A funding in July 2023. The company provides a weight loss program that uses a combination of telemedicine, digital tools, and coaching to help patients lose weight and improve their metabolic health.

These are just a few examples of the recent funding rounds for telehealth weight management companies in 2023. The telehealth weight management industry is rapidly growing and investors are eager to support companies that are developing innovative solutions to improve patient care.

The increased funding for telehealth weight management is a positive sign for patients with obesity. It means that there are more options available for patients to receive convenient, affordable, and high-quality care. As the telehealth industry continues to grow, it is likely that telehealth will become an increasingly common method for providing weight management care.

In addition to the companies mentioned above, there are a number of other telehealth weight management companies that are receiving funding in 2023. These companies are developing a variety of innovative solutions to improve the delivery of weight loss care, such as:

• Virtual reality therapy: This type of therapy uses virtual reality to immerse patients in a safe and controlled environment where they can work through their food addiction or other weight loss challenges.
• Group therapy: This type of therapy allows patients to connect with others who are experiencing similar challenges and receive support from a therapist.
• Medication management: This type of therapy allows patients to see a doctor online to discuss their medication and make adjustments as needed.
• Telehealth education: Weight loss specialists can use telehealth to provide patients with education about weight loss and healthy living. This can help patients to better understand their condition and make informed decisions about their care.

The telehealth weight management industry is rapidly growing and there are a number of innovative companies that are developing new ways to improve the delivery of weight loss care. This is a positive sign for patients with obesity, as it means that there are more options available for them to receive convenient, affordable, and high-quality care.

Telehealth Trend 4: Women's Health

Telehealth women's health is the use of telecommunications technology to provide women's health care from a distance. This can include virtual visits with gynecologists, nurse practitioners, and other women's health providers. Telehealth women's health can be a convenient and affordable way to receive women's health care, especially for women who live in rural areas or who have difficulty traveling to see a women's health provider in person.

There are a number of benefits to using telehealth for women's health care. First, it can provide patients with convenient and affordable access to care. Patients can see a women's health provider from the comfort of their own homes, without having to travel to a clinic or hospital. This can be especially beneficial for women who live in rural areas or who have difficulty traveling.

Second, telehealth can help to improve patient satisfaction. Patients who use telehealth for women's health care often report being more satisfied with their care than patients who see women's health providers in person. This is likely due to the convenience and flexibility of telehealth, as well as the fact that patients feel more comfortable talking about sensitive women's health issues with a women's health provider in a private setting.

Third, telehealth can help to improve the quality of women's health care. Women's health providers who use telehealth have access to the same resources and tools as women's health providers who see patients in person. This means that patients can receive the same level of care, regardless of whether they see a women's health provider in person or virtually.

In addition to the benefits for patients, telehealth also has benefits for women's health providers. Women's health providers who use telehealth can see more patients in a day, which can help to improve their productivity and efficiency. Telehealth can also help to reduce healthcare costs, as it can eliminate the need for patients to travel to clinics or hospitals for care.

Overall, telehealth is a valuable tool for women's health care. It can provide patients with convenient, affordable, and high-quality care. Women's health providers who use telehealth can see more patients in a day and reduce healthcare costs. As the telehealth industry continues to grow, it is likely that telehealth will become an increasingly common method for providing women's health care.

Here are some examples of telehealth services that can be used for women's health care:

• Virtual visits with a gynecologist: Gynecologists can provide patients with care for a variety of women's health issues, including contraception, pregnancy care, and menopause.
• Telehealth education: Women's health providers can use telehealth to provide patients with education about women's health issues and treatment options. This can help patients to better understand their condition and make informed decisions about their care.
• Telehealth support groups: Telehealth support groups can provide patients with a community of women who are also facing similar challenges. This can be a valuable source of support and motivation.

There has been a significant increase in funding for telehealth women's health in 2023. This is likely due to the growing demand for telehealth services and the potential for telehealth to improve outcomes and reduce costs for women's health conditions.

Here are some examples of recent funding rounds for telehealth women's health companies in 2023:

• Kindbody raised $160 million in Series C funding in January 2023. The company provides a virtual fertility clinic that offers a suite of services, including egg freezing, IVF, and miscarriage support.
• Modern Fertility raised $100 million in Series C funding in February 2023. The company provides at-home fertility testing kits and personalized coaching.
• Clara Health raised $75 million in Series B funding in March 2023. The company provides virtual care for women with chronic conditions, such as diabetes and hypertension.
• Prairie Women's Health raised $50 million in Series A funding in April 2023. The company provides virtual care for women's health conditions, such as pelvic pain and endometriosis.
• Maven raised $30 million in Series C funding in May 2023. The company provides virtual care for women during pregnancy and postpartum.

These are just a few examples of the recent funding rounds for telehealth women's health companies in 2023. The telehealth women's health industry is rapidly growing and investors are eager to support companies that are developing innovative solutions to improve patient care.

The increased funding for telehealth women's health is a positive sign for women's health. It means that there are more options available for women to receive convenient, affordable, and high-quality care. As the telehealth industry continues to grow, it is likely that telehealth will become an increasingly common method for providing women's health care.

In addition to the companies mentioned above, there are a number of other telehealth women's health companies that are receiving funding in 2023. These companies are developing a variety of innovative solutions to improve the delivery of women's health care, such as:

• Virtual reality therapy: This type of therapy uses virtual reality to immerse patients in a safe and controlled environment where they can work through their pain or other women's health challenges.
• Group therapy: This type of therapy allows patients to connect with others who are experiencing similar challenges and receive support from a therapist.
• Medication management: This type of therapy allows patients to see a doctor online to discuss their medication and make adjustments as needed.
• Telehealth education: Women's health providers can use telehealth to provide patients with education about women's health issues and treatment options. This can help patients to better understand their condition and make informed decisions about their care.

The telehealth women's health industry is rapidly growing and there are a number of innovative companies that are developing new ways to improve the delivery of women's health care. This is a positive sign for women's health, as it means that there are more options available for women to receive convenient, affordable, and high-quality care.

Telehealth Trend 5: Wound Care

Telehealth wound care is the use of telecommunications technology to provide wound care from a distance. This can include virtual visits with wound care nurses, doctors, and other healthcare providers. Telehealth wound care can be a convenient and affordable way to receive wound care, especially for patients who live in rural areas or who have difficulty traveling to see a wound care provider in person.

There are a number of benefits to using telehealth for wound care. First, it can provide patients with convenient and affordable access to care. Patients can see a wound care provider from the comfort of their own homes, without having to travel to a clinic or hospital. This can be especially beneficial for patients who live in rural areas or who have difficulty traveling.

Second, telehealth can help to improve patient satisfaction. Patients who use telehealth for wound care often report being more satisfied with their care than patients who see wound care providers in person. This is likely due to the convenience and flexibility of telehealth, as well as the fact that patients feel more comfortable talking about their wound care needs with a wound care provider in a private setting.

Third, telehealth can help to improve the quality of wound care. Wound care providers who use telehealth have access to the same resources and tools as wound care providers who see patients in person. This means that patients can receive the same level of care, regardless of whether they see a wound care provider in person or virtually.

In addition to the benefits for patients, telehealth also has benefits for wound care providers. Wound care providers who use telehealth can see more patients in a day, which can help to improve their productivity and efficiency. Telehealth can also help to reduce healthcare costs, as it can eliminate the need for patients to travel to clinics or hospitals for care.

Overall, telehealth is a valuable tool for wound care. It can provide patients with convenient, affordable, and high-quality care. Wound care providers who use telehealth can see more patients in a day and reduce healthcare costs. As the telehealth industry continues to grow, it is likely that telehealth will become an increasingly common method for providing wound care.

Here are some examples of telehealth services that can be used for wound care:

• Virtual visits with a wound care nurse: Wound care nurses can assess wounds, provide dressing changes, and prescribe medications.
• Telehealth education: Wound care providers can use telehealth to provide patients with education about wound care and treatment options. This can help patients to better understand their condition and make informed decisions about their care.
• Telehealth support groups: Telehealth support groups can provide patients with a community of people who are also living with chronic wounds. This can be a valuable source of support and motivation.

There has been a significant increase in funding for telehealth wound care in 2023. This is likely due to the growing demand for telehealth services and the potential for telehealth to improve outcomes and reduce costs for patients with chronic wounds.

Here are some examples of recent funding rounds for telehealth wound care companies in 2023:

• Oshi Health raised $30 million in Series B funding in April 2023. The company provides virtual care for patients with chronic wounds, such as diabetic foot ulcers and pressure sores.
• Vivante Health raised $16 million in Series A funding in March 2023. The company provides virtual care for patients with chronic GI conditions, such as gastroparesis and functional dyspepsia.
• Ayble Health raised $4.6 million in seed funding in October 2022. The company develops a digestive care platform that combines dietary guidance with behavioral health tools.
• Salvo Health raised $10.5 million in seed funding in July 2022. The company provides virtual care for patients with chronic gut conditions, such as irritable bowel syndrome (IBS) and inflammatory bowel disease (IBD).

These are just a few examples of the recent funding rounds for telehealth wound care companies in 2023. The telehealth wound care industry is rapidly growing and investors are eager to support companies that are developing innovative solutions to improve patient care.

The increased funding for telehealth wound care is a positive sign for patients with chronic wounds. It means that there are more options available for patients to receive convenient, affordable, and high-quality care. As the telehealth industry continues to grow, it is likely that telehealth will become an increasingly common method for providing wound care.

In addition to the companies mentioned above, there are a number of other telehealth wound care companies that are receiving funding in 2023. These companies are developing a variety of innovative solutions to improve the delivery of wound care, such as:

• Virtual reality therapy: This type of therapy uses virtual reality to immerse patients in a safe and controlled environment where they can work through their pain or other wound care challenges.
• Group therapy: This type of therapy allows patients to connect with others who are experiencing similar challenges and receive support from a therapist.
• Medication management: This type of therapy allows patients to see a doctor online to discuss their medication and make adjustments as needed.
• Telehealth education: Wound care providers can use telehealth to provide patients with education about wound care and treatment options. This can help patients to better understand their condition and make informed decisions about their care.

The telehealth wound care industry is rapidly growing and there are a number of innovative companies that are developing new ways to improve the delivery of wound care. This is a positive sign for patients with chronic wounds, as it means that there are more options available for patients to receive convenient, affordable, and high-quality care.

Engage with the HealthTech CommunityThoughts, comments? Tweet @lloydgprice , or email [email protected]

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