3 Stocks To Play To Coming Telehealth Boom Hea
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Healthcare has seen numerous high-profile technology innovations in the last decade. These innovations have mostly focused on fighting and detecting new diseases and viruses. However, telehealth remains one of the largest growing sub-sectors of the healthcare sector.
Telehealth essentially allows patients to receive care and professional healthcare advice through digital interaction. In short, rather than waiting hours at your doctor’s office, patients will be able to chat with their healthcare provider through webcam or video call interaction. This streamlines the care process and would allow doctors to care for a greater number of patients each day. Aside from virtual health visits, the telehealth industry also is comprised of other digital healthcare services, such as remote patient monitoring, mobile health platforms, and personal emergency response systems (PERS).
According to a recent report from Frost & Sullivan, the U.S. telehealth market is forecast to see a compound annual growth rate (CAGR) of 29.3% between 2016 and 2021. Furthermore, the market research firm sees telehealth becoming mainstream within the next five to seven years.
As we prepare for the next generation of healthcare care, here are three small-cap stocks to play the telehealth boom:
Innovest Global, Inc. (OTC Pink: IVST): The diversified holding company operates across numerous industries, including telehealth after its recent acquisition of Sanavida. Sanavida has a major advantage in that it is available in both English and Spanish. This will allow the company to target English and Spanish speaking families through a low-cost monthly subscription.
As healthcare insurance coverage is trapped in a heated debate in the U.S., Sanavida appears to be the solution to the problem. Based on the current path and trajectory of the healthcare bill that the House of Representatives is trying to pass, millions of Americans could soon find themselves without healthcare coverage. Sanavida would allow uninsured American families to pay a low-cost monthly subscription in order to receive face-to-face online consultations with a healthcare professional and 24/7 medical assistance. Furthermore, subscribers would receive discounted medical visits, prescriptions, medical supplies, and counseling/mental health services.
Overall, Innovest Global, Inc. plans on continuing to develop Sanavida with additional services, as the company prepares for test marketing launch within the fourth quarter 2017. Furthermore, Sanavida not only provides a potential solution to the impending downsizing of healthcare coverage within the United States, but it hopes to lead expansion into Mexico and South America with this valuable technology.
eWellness Healthcare Corp. (OTCQB: EWLL): The company is one of the first telehealth companies to focus specifically on physical therapy. The company’s PHIZO system allows physical therapists to remote monitor their patients, as they conduct their exercises from home or another therapy clinic. The 1-to-many physical therapy platform allows therapists to monitor entire groups at a time, through its Software as a Service (SaaS)-capable platform. Management sees the platform and concept as a major disruptor to the $30 billion physical therapy and $8 billion corporate wellness markets.
eWellness Healthcare Corp. recently announced that it has cancelled its 1-for-12 reverse stock split, as management sees a potential path to uplist from the OTCQB to the Nasdaq by the end of 2017 or early 2018.
Telehealthcare, Inc. (OTC Pink: TLLT): This company focuses on a different area of telemedicine: digital health records and information. Our current health care records system is still stuck in the stone age of paper filings and folders. Anyone that has ever transferred doctors knows the pain involved with transferring your healthcare records and information to your new provider. Telehealthcare, Inc. seeks to be a solution to this problem by offering online software that can hold and maintain an individual and their family’s medical records. Through its CarePanda platform, patients can login to the platform on any internet-connected device and gain access to all healthcare information needed.
In September 2017, Telehealthcare, Inc. acquired HeadTrainer, Inc. in an effort to gain entry into sports healthcare market. HeadTrainer is a cognitive training company for athletes of all ages and skills. Furthermore, HeadTrainer operates as a mobile gaming app, which allows athletes to further develop cognitive skills.
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