Takeaway: We remain long TDOC in the Hedgeye Health Care Position Monitor.

Field Notes | TDOC | MD Building Private Virtual Care Practice | Uber for Health Care Planning - fn2

Overview

Yesterday, we spoke with a Midwest physician currently acting as a primary care doctor exclusively through various telehealth platforms with goals of launching his own private virtual care practice in the near-term.  From his point of view, telemedicine will continue as a health care planning and referral network assisting patients in scheduling and managing their treatment.  He described his role as an "interpreter that helps the patient to integrate care and takes over when necessary."  In light of this, it seems as if $TDOC is essentially a dispatch service for docs.  Similar to the way that Uber connects riders to drivers upon request, doctors will connect patients with needed referrals.

Field Notes

  • Non-attached patients; does not see repeat patients on TDOC
  • Docs work as independent contractors on multiple platforms, across state lines
  • TDOC recruited him, filled out paperwork, no formal interview
  • Online training was "intense" focuses on following basic guidelines
  • Training takes 15-20 hours
  • The focus of the training is compliance
  • Onboarding takes 4-6 weeks
  • not exclusive to Teladoc platform (practices for Amwell, Kaiser)
  • Call is recorded both audio and video; you know if you are being recorded and reviewed by managers
  • Positive patient feedback is good for helping get more volume, is monitored through recorded audio and video
  • It is a luxury to practice as you want, time spent per patient
  • TDOC monitors his prescription rate, lower is better
  • If your ratings are good, you get more volume
  • "Select Doc" status although no remuneration
  • others, must wait in queue to be connected with available patients
  • Cross state border reciprocity during COVID; State Boards typically regulate
  • State based medical boards, insurance companies, Medicaid, complicate state regulations
  • There is risk for over utilization with ease of access
  • Normally there were seasonal swings in volume pre-COVID
  • 20-25 patients per day in winter; 10-14 per day in the summer
  • Make $25-$35 per visit
  • No time limit; Interaction time with patient is typically 5-10 minutes
  • 8-20 minutes start to finish with doctor notes
  • "My Group Practice PAC ID won't show up" in the claims process
  • Forming his own virtual care practice with a PMPM or hybrid billing model
  • Lab tests, wound care, other in person care requires a referral network
  • His "plan B" for patient care needs to be more complete before launching
  • Will use remote monitoring in virtual practice, blood pressure, scale, CGM, PO2
  • "Use what they have already" in terms of the equipment, no special brands that he is aware of

All data available upon request. Please reach out to  with any inquiries.

Thomas Tobin
Managing Director


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William McMahon
Analyst


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