Teladoc Reports Q3 Losses, Announces Plans To Raise Visit Fees

Teladoc reports its third-quarter results: Revenue increased 83 percent to $20 million. Visit fees paid directly by consumers accounted for $3 million of the company’s earnings, while $17 million came from subscription fees paid by employers, payers, and other enterprise clients. Growth across both revenue streams contributed to the overall revenue increase, with a 122-percent increase in visit fee revenue, and a 78-percent increase in subscription fee revenue. Despite the impressive quarterly growth, Teladoc is still operating in the red, recording a net operating loss of $13.2 million for the quarter.

Teladoc Reports Q3 Losses, Announces Plans To Raise Visit Fees

Now in its 13th year of operation, Teladoc is the largest telehealth vendor in the US. The company processes around 40,000 online consultations per month, monetizing this traffic through direct consumer payments and contracts with clients that are structured around per-member, per-month fees, or PMPM fees. Teladoc looks at PMPM fees as a core metric of its financial success. CEO Jason Gorevic noted on its investor call, “Our third-quarter results show solid growth across all of our metrics…. Importantly, our PMPM fees increased both sequentially and year over year.”

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Fitbit Beats Expectations In Quarterly Earnings, Then Named As Defendant In Yet Another Jawbone Lawsuit

Fitbit had a busy Monday. The company announced its quarterly earnings, which outpaced analyst estimates by a wide margin, but then watched the good news turn bad as its stock price dropped eight percent on the revelation that it was preparing to sell an additional seven million shares of common stock to raise capital. In addition to its hectic day in the stock market, Fitbit was also named in yet another lawsuit by its chief rival, Jawbone.

Fitbit Beats Expectations In Quarterly Earnings, Then Named As Defendant In Yet Another Jawbone Lawsuit

The biggest news of the day for Fitbit was undoubtedly its quarterly report, which was stellar. The company reported $403 million in revenue, up 168 percent from the same quarter last year, and beating analysts forecasts of $359 million by a wide margin. EPS was $0.19, nearly double analyst forecasts of $0.10. The impressive quarter was driven by sales reaching 4.8 million devices in Q3, and speaks volumes to Fitbit’s ability to thrive in a market once expected to be consumed by the emerging smartwatch market. The company set its year end revenue guidance at $1.7 to $1.8 billion. Ordinarily, stock prices soar on such news, but within Fitbit’s earnings report the company announced that it was preparing to sell an additional seven million shares, while at the same time releasing restrictions on employee stock options that would potentially add an additional 14 million new shares to the market. The fear that a flood of additional stock was about to hit the market sent share prices down eight percent by the end of trading Monday.

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Monclarity Raises $5 Million Seed Round, Launches Brain Training App

The scientifically questionable, yet increasingly crowded marketplace for brain training apps is about to have another vendor to contend with. Monclarity, a new digital health startup co-founded by a seasoned gaming industry entrepreneur and a clinical cognitive neuroscientist, just announced that it has closed a $5 million seed round led by Access Industries. The team is also launching its flagship product, Brainwell, a cognitive training app that claims to help with many of the same conditions that its competition, Lumosity, Elevate, Fit Brain, and Brain HQ, are already tackling.

Monclarity Raises $5 Million Seed Round, Launches Brain Training App

At its core, Brainwell is a personalized training app that runs users through a series of games designed to stimulate key parts of the brain, with the goal of improving performance in similar real-life scenarios. An often referenced use case for cognitive training “brain games” is facial recognition. People that struggle remembering names or faces can use Brainwell or any of the other commercially available apps to improve their ability to remember these details. The apps attempt to improve these cognitive deficiencies by having users train with simulated game-based scenarios that exercise the parts of the brain responsible for name recollection and facial recognition. The quality of these games varies widely between the competing vendors, with most agreeing that Lumosity games are boring and difficult to stick with, while Fit Brain offers a more video game-like experience in its training program. Brainwell should compete well from this perspective. Its founder, Anthony Tikhman, is a computer scientist with a long and successful career in the gaming industry. He built and sold several earlier startups to major video game companies.

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AdhereTech Unveils Next Generation Of Connected Pill Bottles

Digital health startup AdhereTech unveils the next generation in its line of connected pill bottles. The new bottle has been completely redesigned since AdhereTech launched its first bottle in 2013, adding new functionality, reducing overall weight, and changing the shape of the bottle itself so that it more closely resembles a traditional prescription bottle.

AdhereTech Unveils Next Generation Of Connected Pill Bottles

The NYC-based startup was launched in 2011 by then Wharton Business School MBA student Josh Stein. Stein recognized that poor medication adherence was a problem that was costing the US $300 billion annually. Despite the high cost, there was little competition in the market in 2011 working to improve adherence rates. Though many companies have now rolled out apps that send patients medication reminders, there are still very few companies building technologies that will passively track medication adherence.  Stein raised a $600,000 seed round in 2011 and used the money to design a pill bottle that knows when each medication should be taken, and recognizes when a dose has been missed. When doses are missed, the pill bottle lights up, vibrates, and can even send an automated text message or phone call to the patient or a designated caregiver. On the back-end, adherence data is tracked and reported on a population dashboard that is being used by health systems working to improve population health, and pharmaceutical companies managing clinical trials.

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HealthTap Launches New Suite Of Apps Aimed At Enterprise Healthcare Market

Digital health startup HealthTap launches its newest product, HOPES, a suite of applications designed to help enterprise healthcare organizations implement a plug-and-play population health solution that interfaces with hospital and clinic EHRs and supplements traditional care delivery with telehealth visits, secure messaging, appointment scheduling and reminders, online medical Q&A services, and a back-end analytics system. The platform is being marketed as a healthcare “operating system,” which is an odd choice, considering that it is in no way an actual operating system. HealthTap seems to be saying that it views this new product as an all-in-one solution for health systems that want to meaningfully expand their reach outside the walls of the hospital.

HealthTap Launches New Suite Of Apps Aimed At Enterprise Healthcare Market

HOPES, short for Health Operating System, includes seven applications designed to help health systems engage with the public. HealthTap’s communications app provides doctors and other clinicians with a secure method of communicating both amongst themselves and with patients. This tool includes support for text, voice, and live video communications and provides health systems with all the tools needed to begin supporting telehealth visits. An administrative app helps patients book appointments, be it telehealth or in-person, and facilitates online payments. An engagement app helps health systems communicate with all key players in the care delivery system, sending appointment reminders to both the patient and the doctor, and monitoring the patient’s health between visits and after hospitalizations. The health content app is largely a rebranding of HealthTap’s flagship Q&A platform, providing patients with peer-reviewed answers to common medical questions. The platform also includes integration points with retail pharmacies and laboratories so that prescriptions can be renewed and lab tests can be scheduled and results reviewed. Lastly, the entire platform collects data that feeds an analytics platform designed to give health systems dashboards for managing and improving population health programs.

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