Chronicle Journal: Finance

Teladoc Health Launches Mental Health Telemedicine Service

TORONTO, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Teladoc Health (NYSE: TDOC) announced today the launch of Mental Health Care, its new telemedicine service enabling employees to count on convenient, stigma-free access to high-quality psychiatrists, psychologists and therapists from the convenience of their phone, web or mobile app. In addition to expanding the breadth of mental health offerings available from Teladoc Health, the new service also creates the first telemedicine solution to offer both general medical and mental health care from the same platform, enabling a more holistic and seamless approach to care.

As has been widely reported, COVID-19 has accelerated the need for mental health support, creating more demand than ever before. In a May 2020 study commissioned by Teladoc Health, it was found that half of Canadian respondents reported their mental health was negatively impacted by the COVID-19 pandemic, and 62 per cent of respondents reported they would be comfortable using telemedicine for mental health support. The availability of Teladoc Mental Health Care is coming at a time when employers are expanding their offerings with nearly 40 per cent reporting their employers have added mental health resources.

“COVID-19 has presented unforeseen and widespread challenges across all ages and demographics,” said Dr. Tim Foggin, Canadian Medical Director, Teladoc Health. “With our Mental Health Care service, Teladoc Health continues to remove barriers and providing easy access to care so employees can feel comfortable getting the confidential help they need, and employers can have the confidence to say they are providing the right resources.”

The World Health Organization recognized depression as one of the leading causes of disability worldwide and, coupled with anxiety, costs the global economy about $1 trillion a year in lost productivity, underscoring the need for mental health support. In an October 2019 study commissioned by Teladoc Health, over half of respondents agreed that they would be more productive at work if there was more mental health support, which works to reduce absenteeism in the workspace. The survey found that mental health challenges are extremely common, showing that 61 per cent of respondents said that symptoms have affected their job performance.

With Mental Health Care, Teladoc Health has licensed psychiatrists, psychologists and therapists available quickly, no matter where the member lives and allows members to have multiple sessions with the same clinician. On average, patients can wait between three to nine months to receive mental health support. With Teladoc Health, members have 24-7 access to the app and an average of 5-day lead time to book appointments. Teladoc Health offers more scheduling options and availability beyond traditional in-person visit limitations. The convenience of virtual therapy allows for secure, discreet and confidential appointments, making treatment possible for people who feel they are more comfortable in a controlled space or with limited available time.

The Mental Health Care launch builds on the success of Teladoc Health’s mental health footprint in Canada with their Mental Health Navigator and disability products. Overall, with Teladoc Health’s mental health services, employers are seeing an average of 52 per cent improved presenteeism and 5.35 days of absence saved.

For more information, visit http://go.teladochealth.com/2020-world-mental-health-day-CA/

About Teladoc Health
A mission-driven organization, Teladoc Health, Inc. is successfully transforming how people access and experience healthcare, with a focus on high quality, lower costs, and improved outcomes around the world. With more than 2,400 employees, the organization delivers care in 175 countries and in more than 40 languages, including for more than 9 million Canadians who benefit from integrated services inclusive of telehealth, mental health, expert medical services, and AI and analytics. For more than 20 years, starting with Best Doctors, Teladoc Health has had operations in Toronto and been partnering with employers, insurers, and hospitals & health systems, to transform care delivery. For more information, please visit www.teladochealth.ca or follow @TeladocHealth on Twitter.

Media Contacts:
Kyle Denton
Golin Canada
647-917-6984
kdenton@golin.com

Courtney McLeod
Teladoc Health
914-265-6789
cmcleod@teladochealth.com

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.