Teladoc Health, Inc. TDOC upgraded its Virtual Sitter solution by infusing new AI-powered enhancements. The enhanced solution is now available commercially and has already been adopted by select clients.
The TDOC solution employs sophisticated, pre-trained algorithms, motion detection and pose estimation to identify patient movements that may lead to falls, allowing for quicker responses by bedside staff. The new technology, integrated within Teladoc’s TV Pro devices, utilizes local processing power to bolster the security of Protected Health Information and enhance system performance.
The usage of AI technology enables a single remote staff member to oversee up to 25% more patients. This, in turn, is expected to expand the capacity of healthcare inpatient teams, elevate patient safety, mitigate workforce challenges and improve care delivery across hospitals and health systems.
The recent announcement also seems to be a time opportune one since around 1 million hospitalized patients suffer from falls annually, with more than 30% sustaining serious injuries. The CDC reports that these incidents incur about $50 billion in medical expenses each year, further burdening hospitals.
Rationale Behind the Latest Move
The latest advancement to the Virtual Sitter solution is part of Teladoc’s efforts to upgrade its suite of inpatient connected care solutions that enable virtual nursing, physician consultations, interpretive services and other hybrid care services. These solutions aim to alleviate the administrative workload of bedside staff while improving satisfaction for both healthcare providers and patients.
The lucrativeness of the enhanced solution is expected to fetch higher members to TDOC and subsequently, boost its top line in the days ahead.
In March, Teladoc enhanced its weight management capabilities in a bid to offer a personalized health and medical care program to keep an eye on minimizing care costs related to obesity and promoting healthy weight loss.
TDOC’s Share Price Performance & Zacks Rank
Shares of Teladoc have gained 68.8% in the past three months against the industry’s 12.3% decline. TDOC currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Medical space are Tenet Healthcare Corporation THC, LivaNova PLC LIVN and Select Medical Holdings Corporation SEM. Tenet Healthcare currently sports a Zacks Rank #1 (Strong Buy), and LivaNova and Select Medical carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Tenet Healthcare’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 59.92%. The Zacks Consensus Estimate for THC’s 2024 earnings indicates a rise of 63%, while the consensus mark for revenues implies an improvement of 1.1% from the corresponding year-ago figures.
The consensus estimate for THC’s earnings has moved 6.8% north in the past 30 days. Shares of Tenet Healthcare have declined 11.4% in the past three months.
LivaNova’s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 29.21%. The consensus estimate for LIVN’s 2024 earnings indicates a rise of 20.4% from the year-ago figure. The consensus mark for revenues indicates growth of 8.9% from the year-ago figure.
The consensus estimate for LIVN’s earnings has moved 7% north in the past 30 days. Shares of LivaNova have gained 10.1% in the past three months.
Select Medical’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 24.18%. The consensus estimate for SEM’s 2024 earnings indicates a rise of 8.5%, while the consensus mark for revenues implies an improvement of 5.9% from the corresponding year-ago figures.
The Zacks Consensus Estimate for SEM’s earnings has moved 6.4% north in the past 30 days. Shares of Select Medical have declined 40.8% in the past three months.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>Tenet Healthcare Corporation (THC) : Free Stock Analysis Report
Select Medical Holdings Corporation (SEM) : Free Stock Analysis Report
Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report
LivaNova PLC (LIVN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
