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Tag: American Well Stock

  • What Caused The After Surge In Amwell (AMWL)

    What Caused The After Surge In Amwell (AMWL)

    American Well Corporation (NYSE: AMWL) witnessed a remarkable ascent during the extended trading session, surging by an impressive 22.92% to reach $1.16. This substantial increase successfully mitigated the prior 7.48% loss experienced during the regular trading hours, ultimately concluding at a closing price of $0.9437. This remarkable surge in value was precipitated by a significant and noteworthy accolade bestowed upon AMWL.

    Amwell (AMWL) has recently secured a cutting-edge contract for the provision of a hybrid healthcare technology platform, specifically tailored to drive the “Digital First” evolution of the Military Health System (MHS). This esteemed contract has been granted to AMWL in collaboration with Leidos (LDOS), a distinguished FORTUNE 500 leader in the realms of science and technology.

    In accordance with this particular task order, the Leidos Partnership for Defense Health (LPDH) is set to introduce Amwell Converge, an all-encompassing hybrid healthcare facilitation platform. This platform has been meticulously designed to empower the entire spectrum of healthcare services through the application of digital, virtual, and automated modalities. It will effectively replace the existing Military Health System (MHS) Video Connect solution.

    The implementation will commence at five initial locations, followed by a phased enterprise-wide deployment. Additionally, the contract encompasses a wide array of Amwell’s automated healthcare programs, which have demonstrated a notable track record of enhancing health outcomes, including diverse behavioral health and integrated core telehealth solutions. If all available options are exercised, the task order spans a 22-month performance period, with a maximum value of $180 million allocated to the LPDH.

    Amwell has already been at the forefront of enabling hybrid healthcare within the commercial sector through its exceptional Converge platform. With this agreement, AMWL is poised to contribute its distinctive capabilities to enhance healthcare accessibility and quality for the MHS community of beneficiaries. Amwell has been chosen to collaborate with Leidos in aiding the Department of Defense in extending the advantages of hybrid healthcare to the Military Health System.

    The Digital First initiative of the Defense Health Agency (DHA) brings forth new capabilities and enhancements to MHS GENESIS, an advanced electronic health record (EHR) and healthcare system solution that supports military and veteran healthcare endeavors. The Converge platform boasts deep integration resources and an intuitive yet potent user experience that facilitates efficient and high-quality delivery of hybrid healthcare.

    This platform is already seamlessly integrated into the existing clinical workflows relied upon by healthcare teams, including those embedded within the core EHR powering MHS GENESIS. In unison, Amwell and LPDH are set to enable the DHA to harness the advantages of hybrid healthcare, enhance access to primary and behavioral healthcare, and ultimately elevate the health outcomes for the MHS community.

  • Top Telehealth Stocks To Watch In January 2021

    Top Telehealth Stocks To Watch In January 2021

    Telehealth companies help people see medical professionals remotely through either the phone or video calls. And since the demand for healthcare with elements of social distancing increased during the pandemic, telemedicine services also saw an increase in demand. In the United States, when Congress passed an emergency fund of $8.3 billion, it also loosened certain rules on the use of telehealth services in the U.S. Medicare program. A lot of companies have branched into telehealth but only trade over the counter or are privately owned, except for Teladoc Health which trades on the New York Stock Exchange and has outperformed the broader market and has a market value of $12.2 billion.

    Teladoc Health Inc (NYSE: TDOC)

    Teladoc Health Inc (TDOC)‎ is one of the best telehealth stocks on Wall Street and benefited from the entire Covid pandemic ordeal since virtual healthcare became a big thing. The company gives virtual healthcare services to a wide range of stakeholders and its revenue more than doubled since then. Teladoc Health managed to close the third quarter last year with the $18.5 billion acquisition of its rival Livongo in October.

    In 2020, TDOC’s stocks began to look pricey because they had more than doubled up. It is a compelling growth story within the healthcare sector and is bound to bring in new investors over the years. It is already dubbed as a Strong Buy by 13 of the 27 analysts tracking for the S&P Global Market Intelligence.

    American Well Corp (NYSE: AMWL)

    American Well Corp (AMWL)‎ is a top-notch telemedicine company based in the United States and is rated 885 out of 1,000 which is higher than the 856 average in the industry. Amwell is part of 55 health plans at the moment and it used by nearly 36,000 employers. But the situation created by the pandemic proved to be extremely profitable for the company as seen in the visits to its platform since 2006 having been 5.6 million out of which 2.9 million of those visits happened till the middle of 2020.

    Its revenue increased by 77 per cent in the first half of 2020 by $122.3 million and its monthly visit volumes also saw a more than fourfold increase. In August, it also succeeded in securing a $100 million investment from Google, and much of that will go towards research and development and also in innovating the platform. AMWL is currently capitalized with $831.6 million in cash and investments and since September its stock is up by 70 per cent.

    M3

    M3 has been a global leader in telehealth in Japan and overseas. It is backed by Sony and initially began as a traditional operator of medical websites but it then used its acquisitions to become a provider of online medical information and telehealth. Much of M3’s revenue comes from the information it makes available to its academics, patients, and doctors. But that still makes it very profitable with a market capitalization of more than $60 billion. Its stock has been tripling over the past year as its capabilities have made it a strong stock and even the best emerging telehealth stock in the market.

    During the pandemic it gained 72 per cent for the year to date and it is predicted that with its outsized growth rate if it had been in the S&P 500, it would have been the top fifth index of the most expensive stocks.