Teladoc Health Enhances Patient Safety with AI-Powered Virtual Sitter Solution

Teladoc Health launches AI-driven Virtual Sitter solution By Investing.com

PURCHASE, NY - Teladoc Health (NYSE: NYSE:TDOC), a provider of virtual care services, has introduced new artificial intelligence (AI) enhancements to its Virtual Sitter offering, aimed at increasing patient safety and improving care in hospitals and health systems. The enhanced solution allows remote monitoring staff to oversee more patients simultaneously, potentially reducing the incidence of patient falls in hospitals. Annually, about 1 million hospitalized patients experience falls, and over 30% of these incidents lead to significant injuries, contributing to around $50 billion in medical costs, as reported by the Centers for Disease Control and Prevention (CDC). The AI-enabled Virtual Sitter aims to mitigate this issue by enabling a single staff member to monitor up to 25% more patients than before, thereby expanding the capacity of inpatient healthcare teams. The technology, which includes motion detection and pose estimation, uses pre-trained algorithms to identify patient movements that could precede a fall, allowing for quicker intervention by bedside staff. To ensure the protection of Protected Health Information (PHI) and enhance system performance, the solution operates on the edge, using local processing power within Teladoc Health's TV Pro devices. Andy Puterbaugh, President of Hospitals and Health Systems at Teladoc Health, highlighted the company's decade-long commitment to integrating technology with patient care. The new AI applications are expected to accelerate the improvement of Teladoc Health's suite of connected care solutions, which also encompasses virtual nursing, physician consultations, interpretive services, and more. The AI-enabled Virtual Sitter is now available commercially and is in the process of being rolled out with select clients. This development is part of Teladoc Health's broader strategy to leverage technology to enhance healthcare experiences and outcomes. Teladoc Health positions itself as a leader in whole-person virtual care, leveraging health signals and personalized interactions to improve health outcomes throughout the continuum of care. The company's use of data-driven insights aims to address the evolving virtual care needs of both consumers and healthcare professionals. This announcement is based on a press release statement from Teladoc Health, Inc. In other recent news, Teladoc Health revealed its third-quarter financial results for 2024, showing a 3% year-over-year decrease in consolidated revenue to $641 million. The Integrated Care segment, however, experienced a 2.5% rise in revenue, reaching $384 million. Conversely, the BetterHelp segment reported a 10% drop in revenue, settling at $257 million. The company's adjusted EBITDA for the quarter was $83.3 million, down 6% from the previous year, with a 13% margin. Significant news came from Goldman Sachs (NYSE:GS) as it initiated coverage on Teladoc Health, assigning a Buy rating to the company's stock and setting a price target at $14.00. This development is based on a positive outlook for Teladoc's integrated care business, especially its Chronic Care Segment, which is expected to fuel membership and revenue growth. Furthermore, Goldman Sachs projects a turnaround in Teladoc's BetterHelp strategy, predicting membership and utilization rates will hit their lowest point by the end of 2025, followed by growth. The firm also anticipates the company's adjusted EBITDA will stabilize in 2025, with a turning point expected in 2026 or later. Looking ahead, Teladoc estimates Integrated Care revenue to remain flat or rise up to 2.5% for the fourth quarter, with adjusted EBITDA margins projected between 12.25% and 13.75%. The company's 2025 targets include revenue growth consistent with Q4 2024 trends, emphasizing the maintenance of margins and cost management. Teladoc Health's recent introduction of AI enhancements to its Virtual Sitter offering aligns with the company's focus on innovation and market positioning. According to InvestingPro data, Teladoc's revenue for the last twelve months as of Q3 2024 stood at $2.59 billion, with a gross profit margin of 70.82%. This robust margin suggests the company has room to invest in technological advancements like the AI-enabled Virtual Sitter. An InvestingPro Tip indicates that Teladoc has seen a significant return over the last week, with a 17.35% price total return. This recent positive momentum could be partly attributed to investor optimism surrounding the company's AI initiatives. Additionally, another InvestingPro Tip notes that Teladoc operates with a moderate level of debt, which may provide financial flexibility to support ongoing innovation efforts. It's worth noting that while Teladoc is making strides in AI and patient care solutions, the company faces some financial challenges. An InvestingPro Tip reveals that analysts do not anticipate the company will be profitable this year. This context underscores the importance of Teladoc's efforts to enhance its product offerings and potentially improve its financial outlook. For investors interested in a deeper analysis, InvestingPro offers 11 additional tips for Teladoc Health, providing a more comprehensive view of the company's financial health and market position.

Teladoc Health Expands AI Capabilities for Hospitals and Health Systems with Advanced Virtual Sitter Solution - Teladoc Health (NYSE:TDOC)

PURCHASE, NY, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Teladoc Health TDOC, the global leader in virtual care, announced today the launch of new AI-enabled capabilities to enhance its Virtual Sitter solution to improve patient safety, address workforce challenges, and enhance care delivery for hospitals and health systems. Every year, nearly 1 million hospitalized patients experience falls, with more than 30% resulting in lasting injuries. According to the CDC, falls result in approximately $50 billion of medical costs each year, and put additional strain on hospitals. Teladoc Health's Virtual Sitter solution helps address this critical issue. Leveraging AI, a single remote staff member can now monitor up to 25% more patients, helping to increase the capacity of healthcare inpatient teams. This latest innovation builds on Teladoc Health's broader suite of inpatient connected care solutions, which support virtual nursing, physician consults, interpretive services, and other hybrid care services that help reduce the administrative burden on bedside staff and improve both clinician and patient satisfaction. "For more than a decade, we've pioneered new ways for technology to support human interaction in patient care, helping hospitals and health systems transform care delivery and meet their most pressing challenges," said Andy Puterbaugh, Teladoc Health President of Hospitals and Health Systems. "New applications of AI are now accelerating our impact, supporting continuous improvement of our fully integrated suite of connected care solutions, including Virtual Sitter." Using advanced, pre-trained algorithms, motion detection and pose estimation, the expanded solution can visually detect patient movement that could lead to falls, enabling faster intervention by bedside staff. Integrated within Teladoc Health's TV Pro devices, the technology runs on the edge, using local processing power to improve the security of Protected Health Information (PHI) and system performance. The AI-enabled Virtual Sitter solution is now commercially available and is already being implemented with select clients. To learn more about Teladoc Health's expanded Virtual Sitter solution, click here. For more information about Teladoc Health's integrated virtual care solutions for hospitals and health systems, click here. About Teladoc Health Teladoc Health empowers all people everywhere to live their healthiest lives by transforming the healthcare experience. As the world leader in whole-person virtual care, Teladoc Health uses proprietary health signals and personalized interactions to drive better health outcomes across the full continuum of care, at every stage in a person's health journey. Teladoc Health leverages more than two decades of expertise and data-driven insights to meet the growing virtual care needs of consumers and healthcare professionals. For more information, please visit www.teladochealth.com. Contact Lou Serio [email protected] +1 202-569-9715 A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f2f56c05-a92a-4978-84d1-ffb7e2931f04 Market News and Data brought to you by Benzinga APIs