Virtual health care company Teladoc Health will partner with Amazon and join its Health Benefits Connector program. TDOC stock reversed from an early surge Tuesday.
Teladoc Health late Monday announced a new partnership with Amazon to expand its chronic condition programs. Amazon customers who are eligible for Teladoc's diabetes, high blood pressure, prediabetes and weight management programs will be able to explore and enroll in those benefits through Amazon's Health Benefits Connector, which was previously known as the Health Condition Programs.
Teladoc Health has more than 1 million active enrollees across its chronic condition programs, according to the release. The programs utilized connected devices, data-driven personalization and expert coaching to improve cardiometabolic health and support sustainable changes in behavior.
Meanwhile, more than half of U.S. adults live with at least one chronic disease. And nearly a quarter of U.S. adults are unaware of all the benefits available via their health plan, according to Teladoc.
The Amazon Health Benefits Connector intends to solve this challenge by presenting eligible benefits to customers when searching for related products or devices.
"By enabling customers to discover and enroll in our programs on Amazon, this effort will improve access to needed care and help people manage their health in an easier and more convenient way," Teladoc CEO Chuck Divita said in the release.
Kelly Bliss, Teladoc Health President of U.S. Group Health, added that "Amazon's service gives us new ways to engage members where they are and deliver a seamless enrollment experience."
Teladoc, Amazon Stock Action
TDOC stock declined 3.5% Tuesday. Shares jumped more than 4% in early trade..
TDOC stock has been in a major downtrend, stretching back to February 2021. But shares are up 43% from a late August low and are forming a possible base pattern.
Amazon stock ticked down a fraction Tuesday. AMZN shares are extended from a mid-November breakout and hit a record high of 233 on Dec. 16.
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