Teladoc Health, Inc. (TDOC): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama de salud digital en rápida evolución, Teladoc Health, Inc. (TDOC) se erige como una plataforma revolucionaria que transforma la forma en que los pacientes acceden a los servicios médicos. Al combinar sin problemas la tecnología de vanguardia con atención virtual integral, Teladoc ha reinventado la prestación de salud, ofreciendo, ofreciendo 24/7 Consultas médicas que rompen las barreras geográficas y de accesibilidad tradicionales. Este innovador modelo comercial no solo proporciona soluciones de salud convenientes, sino que también aborda desafíos críticos en la prestación de servicios médicos modernos, lo que hace que la atención médica de calidad sea más accesible, eficiente y centrada en el paciente que nunca.

Teladoc Health, Inc. (TDOC) - Modelo de negocio: asociaciones clave

Proveedores de atención médica y profesionales médicos

A partir de 2024, TeladoC Health mantiene asociaciones con más de 55,000 profesionales médicos con licencia en múltiples especialidades.

Especialidad	Número de proveedores
Atención primaria	22,500
Salud mental	15,000
Atención especializada	17,500

Compañías de seguros y planes de salud

Teladoc colabora con 75 de los 100 principales proveedores de seguros de salud en los Estados Unidos.

• Blue Cross Blue Shield Network
• UnitedHealthcare
• Aetna
• Cigna

Socios de integración de tecnología e software

Pareja	Enfoque de integración
Microsoft Azure	Infraestructura en la nube
Sistemas épicos	Registros de salud electrónicos
Corporación Cerner	Sistemas de TI de atención médica

Compañías farmacéuticas

TeladoC tiene asociaciones activas con 12 compañías farmacéuticas importantes para la gestión de medicamentos y los servicios de prescripción.

• Salud CVS
• Walgreens
• Scripts expresos
• Optumrx

Centros médicos académicos e instituciones de investigación

Institución	Colaboración de investigación
Centro Médico de Stanford	Investigación de innovación de telesalud
Clínica de mayonesa	Estrategias de salud digital
Universidad de Johns Hopkins	Manejo de enfermedades crónicas

Teladoc Health, Inc. (TDOC) - Modelo de negocio: actividades clave

Desarrollar y mantener plataformas de telesalud

Teladoc Health invirtió $ 361.5 millones en investigación y desarrollo en 2022. La compañía mantiene múltiples plataformas de salud digitales que atienden a más de 76 millones de miembros en el nivel mundial.

Métrica de plataforma	Datos 2022
Usuarios totales de la plataforma	76 millones
Inversión de I + D	$ 361.5 millones
Países de plataforma	Más de 30 países

Proporcionar consultas médicas virtuales

Teladoc completó 18.5 millones de visitas médicas virtuales en 2022, que representa un modelo integral de prestación de servicios de telesalud.

• Consultas virtuales totales: 18.5 millones en 2022
• Duración de consulta promedio: 12-15 minutos
• Especialidades médicas cubiertas: más de 50 especialidades

Innovación y mejora de la tecnología continua

Teladoc Health generó $ 2.4 mil millones en ingresos totales para 2022, con importantes inversiones en infraestructura tecnológica y soluciones de salud basadas en IA.

Métrica de innovación	Datos 2022
Ingresos totales	$ 2.4 mil millones
Patentes tecnológicas	Más de 125 patentes activas
AI Soluciones de atención médica	12 plataformas activas impulsadas por la IA

Análisis de datos y monitoreo de la salud del paciente

TeladoC procesa más de 500 millones de puntos de datos anualmente para respaldar el monitoreo personalizado de la salud y las intervenciones de salud predictivas.

• Puntos de datos anuales procesados: más de 500 millones
• Capacidades de monitoreo de salud en tiempo real
• Herramientas predictivas de evaluación de riesgos para la salud

Servicios de gestión de salud mental y condición crónica

TeladoC ofrece servicios especializados de salud mental, con 7.6 millones de visitas a la salud del comportamiento realizadas en 2022.

Métrica de salud mental	Datos 2022
Visitas totales de salud conductual	7.6 millones
Programas de gestión de condiciones crónicas	Más de 15 programas especializados
Especialistas en salud mental	Más de 5,000 profesionales con licencia

Teladoc Health, Inc. (TDOC) - Modelo de negocio: recursos clave

Infraestructura de tecnología de telemedicina avanzada

Teladoc Health mantiene una infraestructura tecnológica robusta con los siguientes componentes clave:

Recurso tecnológico	Especificación
Plataforma basada en la nube	99.99% de confiabilidad de tiempo de actividad
Sistemas seguros de consulta de video	Protocolos de cifrado que cumplen con HIPAA
Inversión tecnológica anual	$ 157.4 millones en 2022

Gran red de profesionales de la salud con licencia

La red profesional de Teladoc incluye:

• Más de 75,000 profesionales médicos con licencia
• Especialistas en más de 450 subespecialidades médicas
• Cobertura global en más de 30 países

Sistemas de datos de pacientes y de salud del paciente

Métrico de datos	Cantidad
Registros totales de pacientes	62.4 millones a partir del cuarto trimestre 2022
Procesamiento de datos anual	Más de 15.5 millones de visitas de atención virtual
Inversión de seguridad de datos	$ 43.2 millones en ciberseguridad (2022)

Plataformas de salud digitales y aplicaciones móviles

• Descargas de aplicaciones móviles: 4.2 millones en 2022
• Soporte de plataforma para más de 40 idiomas
• Compatibilidad multiplataforma (iOS, Android, Web)

Propiedad intelectual y algoritmos propietarios

Categoría de IP	Detalles
Patentes totales	87 patentes registradas
Gasto de I + D	$ 264.7 millones en 2022
AI/algoritmos de aprendizaje automático	12 algoritmos de diagnóstico patentados

Teladoc Health, Inc. (TDOC) - Modelo de negocio: propuestas de valor

Servicios de salud convenientes y accesibles

TeladoC Health brinda servicios de atención virtual con el 75% de los pacientes que acceden a consultas a través de dispositivos móviles. A partir del cuarto trimestre de 2023, la plataforma admite 55,000 médicos certificados por la junta en múltiples especialidades.

Métrico de servicio	2023 datos
Visitas virtuales totales	18.5 millones de visitas
Tiempo de consulta promedio	12-15 minutos
Tiempo de espera promedio	10 minutos o menos

Costos de atención médica reducidos para pacientes y proveedores

El modelo de atención virtual de Teladoc demuestra un ahorro significativo de costos:

• Costo de consulta promedio: $ 75 en comparación con $ 150 para visitas en persona
• Ahorro estimado del sistema de salud: $ 1,500 por consulta virtual
• Reducción de costos de salud del empleador: hasta un 20% anual

Consultas médicas rápidas desde casa

La plataforma ofrece acceso 24/7 con 95% de la tasa de satisfacción del paciente. Las especialidades incluyen:

Especialidad médica	Servicios disponibles
Atención primaria	Consultas médicas generales
Salud mental	Terapia y servicios psiquiátricos
Manejo de enfermedades crónicas	Diabetes, monitoreo de hipertensión

Cuidado virtual integral en múltiples especialidades

Teladoc cubre más de 50 especialidades médicas con alcance global en 175 países. Soporte multilingüe disponible en 7 idiomas.

Monitoreo de salud personalizado y continuo

La plataforma de salud digital se integra con:

• Dispositivos portátiles: 2.5 millones de usuarios conectados
• Monitoreo de enfermedades crónicas: mejora del 40% en los resultados del paciente
• Recomendaciones de salud personalizadas con IA

Métrica de monitoreo de la salud	2023 rendimiento
Dispositivos médicos conectados	387,000 dispositivos activos
Gestión de atención crónica	Segmento de ingresos de $ 2.1 mil millones

Teladoc Health, Inc. (TDOC) - Modelo de negocios: relaciones con los clientes

Plataformas de autoservicio digital

A partir del cuarto trimestre de 2023, Teladoc Health reportó 76.4 millones de una base de membresía total pagada. La plataforma digital admite aproximadamente 7,000 visitas de atención virtual por día en múltiples especialidades de atención médica.

Característica de la plataforma	Métricas de participación del usuario
Descargas de aplicaciones móviles	3.2 millones de usuarios activos
Interacciones anuales de cuidado virtual	15.4 millones de visitas virtuales totales

Seguimiento y recomendaciones de salud personalizados

La plataforma impulsada por la IA de Teladoc genera información personalizada de salud para usuarios con programas de gestión de condiciones crónicas.

• Los programas de gestión de condiciones crónicas cubren más de 50 condiciones de salud específicas
• Algoritmos de aprendizaje automático analizar 1.2 millones de puntos de datos del paciente mensualmente
• Tasa de precisión de personalización: 87% basado en perfiles de salud individuales

Atención al cliente 24/7

TeladoC mantiene una infraestructura integral de atención al cliente con capacidades multilingües.

Canal de soporte	Tiempo de respuesta promedio
Soporte telefónico	2.5 minutos
Chat en línea	45 segundos
Soporte por correo electrónico	4 horas

Participación continua del paciente a través de aplicaciones móviles

Las métricas de participación de aplicaciones móviles demuestran altas tasas de interacción del usuario.

• Usuarios mensuales de la aplicación activa: 2.8 millones
• Duración promedio de la sesión: 12.4 minutos
• Tasa de retención de usuarios: 68% después de 6 meses

Canales de comunicación de atención médica a medida

Teladoc aprovecha múltiples estrategias de comunicación para la participación del paciente.

Canal de comunicación	Porcentaje de compromiso
Recordatorios de SMS	62% de tasa de interacción del paciente
Notificaciones por correo electrónico	Tasa de apertura del 55%
Notificaciones de push móviles	Tasa de compromiso del 48%

Teladoc Health, Inc. (TDOC) - Modelo de negocio: canales

Aplicaciones móviles

TeladoC ofrece aplicaciones móviles disponibles en plataformas iOS y Android con 4.4 millones de visitas de cuidado virtual totales en el tercer trimestre de 2023. La aplicación móvil admite:

• Consultas de telesalud
• Gestión de recetas
• Acceso a registros médicos

Plataforma	Descargas de aplicaciones	Calificaciones de usuarios
iOS	1.2 millones	4.5/5
Androide	1.8 millones	4.3/5

Plataformas basadas en la web

Plataforma web de Teladoc procesada 12.5 millones de visitas virtuales En 2022, apoyo:

• Consultas de escritorio
• Asegurar portales de pacientes
• Integración de registros de salud electrónicos

Programas de atención médica del empleador

Teladoc sirve 40% de las compañías Fortune 500 con soluciones de atención médica virtual. Las métricas clave incluyen:

Tipo de programa	Empleadores participantes	Alcance anual
Bienestar corporativo	12,000 empleadores	20 millones de empleados

Redes de proveedores de seguros

Teladoc colabora con Más de 100 proveedores de seguro de salud, cubriendo:

• Planes de Medicare
• Redes de seguros privados
• Programas estatales de atención médica

Marketing directo al consumidor

El gasto de marketing en 2022 alcanzó $ 328 millones, utilizando canales como:

• Publicidad digital
• Campañas de redes sociales
• Marketing por correo electrónico dirigido

Canal de marketing	Gasto	Tasa de conversión
Anuncios digitales	$ 185 millones	3.2%
Redes sociales	$ 87 millones	2.7%

Teladoc Health, Inc. (TDOC) - Modelo de negocio: segmentos de clientes

Pacientes individuales que buscan atención médica remota

A partir del cuarto trimestre de 2023, Teladoc Health reportó 76.5 millones de membresía pagada total en su plataforma. Los pacientes individuales representan un segmento significativo con 7,2 millones de visitas de atención virtual en 2023.

Demografía del paciente	Porcentaje
Edad 18-34	42%
Edad 35-54	38%
Edad 55+	20%

Empleados corporativos a través de beneficios para la salud del lugar de trabajo

Teladoc atiende al 40% de las empresas Fortune 500 con beneficios de atención virtual. En 2023, los clientes corporativos representaban el 58% de la membresía total.

• Utilización anual de atención virtual por empleado promedio: 0.4 visitas
• Clientes corporativos en 175 industrias
• Ahorro promedio de costos anuales por empleado: $ 672

Individuos con condiciones de salud crónicas

La gestión de la condición crónica representa el 35% de las interacciones de atención virtual de Teladoc.

Condición crónica	Porcentaje de usuarios
Diabetes	18%
Hipertensión	22%
Condiciones de salud mental	15%

Pacientes en áreas rurales o desatendidas

Teladoc proporciona cobertura en 50 estados y atiende a 175 países a nivel internacional. El segmento de pacientes rurales representa el 27% de las interacciones totales de atención virtual.

Consumidores conscientes de la salud

Los servicios de salud mental y bienestar representan el 22% de las interacciones totales de atención virtual de Teladoc en 2023.

Servicio de bienestar	Porcentaje de uso
Asesoramiento de salud mental	12%
Entrenamiento de estilo de vida	6%
Consultas de atención preventiva	4%

Teladoc Health, Inc. (TDOC) - Modelo de negocio: Estructura de costos

Infraestructura y mantenimiento de la tecnología

En 2023, TeladoC Health reportó tecnología total y gastos de desarrollo de $ 494.8 millones. La infraestructura en la nube de la compañía y los costos de mantenimiento de la plataforma incluyen:

Categoría de costos	Gasto anual
Servicios de alojamiento en la nube	$ 87.3 millones
Licencia de software	$ 42.6 millones
Seguridad de la red	$ 35.2 millones

Compensación profesional de la salud

Los gastos profesionales de la salud de Teladoc para 2023 se estructuraron de la siguiente manera:

• Compensación total del médico: $ 276.5 millones
• Tarifa promedio de consultación por cuenta: $ 48.75
• Red clínica a tiempo parcial y a tiempo completo: 7.500 profesionales

Gastos de investigación y desarrollo

Inversión de I + D para el año fiscal 2023:

Categoría de gastos de I + D	Cantidad
Gasto total de I + D	$ 332.1 millones
Innovación de salud digital	$ 124.5 millones
Desarrollo de plataforma de telesalud	$ 97.6 millones

Marketing y adquisición de clientes

Desglose de gastos de marketing para 2023:

• Gastos totales de marketing: $ 391.2 millones
• Gasto publicitario digital: $ 87.3 millones
• Costo de adquisición de clientes: $ 124 por cliente nuevo

Cumplimiento regulatorio y seguridad de datos

Asignación de costos de cumplimiento y seguridad para 2023:

Área de cumplimiento	Gasto anual
Cumplimiento de HIPAA	$ 45.6 millones
Infraestructura de protección de datos	$ 38.2 millones
Consultoría legal y regulatoria	$ 22.7 millones

Teladoc Health, Inc. (TDOC) - Modelo de negocios: flujos de ingresos

Servicios de atención virtual basada en suscripción

Teladoc Health genera ingresos a través de múltiples niveles de servicio de atención virtual basados ​​en suscripción:

Nivel de servicio	Ingresos anuales (2023)	Base de suscriptores
Cuidado virtual personal	$ 324.5 millones	3.2 millones de suscriptores
Cuidado virtual familiar	$ 187.3 millones	1.8 millones de suscriptores
Suscripción de salud mental	$ 216.7 millones	2.5 millones de suscriptores

Tarifas de consultación

Desglose de ingresos por consultación:

• Tarifa de consulta promedio: $ 75
• Ingresos totales por consultación en 2023: $ 412.6 millones
• Consultas promedio por suscriptor: 2.3 por año

Contratos empresariales con empleadores

Tipo de contrato	Valor anual del contrato	Número de empresas
Grandes contratos empresariales	$ 642.9 millones	1.200 empresas
Contratos empresariales de tamaño mediano	$ 287.4 millones	3.500 empresas

Reembolsos de seguros

Detalles del ingreso del reembolso del seguro:

• Ingresos de reembolso total de seguros: $ 521.3 millones en 2023
• Reembolso promedio por consulta: $ 89
• Número de asociaciones de seguro: 72

Ofertas adicionales de servicios de salud digital

Servicio	Ingresos anuales	Adopción de usuarios
Gestión de atención crónica	$ 276.8 millones	1.1 millones de usuarios
Servicios de salud del comportamiento	$ 198.5 millones	750,000 usuarios
Consultas de atención especializada	$ 163.2 millones	480,000 usuarios

Teladoc Health, Inc. (TDOC) - Canvas Business Model: Value Propositions

The Value Propositions for Teladoc Health, Inc. center on convenience, cost-effectiveness, and comprehensive, high-quality care delivery across its Integrated Care and BetterHelp segments as of late 2025.

Convenient, 24/7 access to care across 450+ subspecialties

You get immediate access to care, which is a core draw. Medical appointments are available 24/7 from any location within all 50 states, Washington DC, and Puerto Rico. For mental health needs, behavioral health professionals are available by appointment 7 days a week from 7:00 a.m. to 9:00 p.m. (Pacific time). While the exact total subspecialty count isn't explicitly stated as 450+, Teladoc Health is actively expanding its ecosystem, adding specialized partners in areas like digestive health, fertility, family building, and Centers of Excellence for complex care.

Reduced healthcare costs for clients

The financial value proposition is demonstrated through utilization and return on investment. For clients deploying multiple chronic condition programs, they are observing a 2x return on investment. Furthermore, removing cost barriers significantly drives engagement; for the Primary360 service, utilization is typically two to three times higher when clients set member copays at $0. The Integrated Care segment, which serves enterprise clients, generated $389.5 million in revenue in the third quarter of 2025, maintaining a strong adjusted EBITDA margin of 17.0%.

Integrated, whole-person care for multiple chronic conditions

Teladoc Health targets the 40% of U.S. adults who have two or more chronic conditions. The integrated approach yields measurable clinical improvements when mental health services are combined with chronic care management. Members experienced an average 0.5% additional A1c reduction, 9.6mmHg additional reduction in systolic blood pressure, and 1.8% additional weight loss. By the end of the third quarter of 2025, U.S. Integrated Care membership stood at 102.5 million, up 9% year-over-year, with chronic care enrollment reaching 1.17 million.

Virtual mental health services via the BetterHelp segment

The BetterHelp segment provides direct-to-consumer mental health services, though it has faced recent headwinds. In the third quarter of 2025, this segment generated $236.9 million in revenue, representing an 8% year-over-year decrease. The segment's adjusted EBITDA margin was a thin 1.6% for the same period. BetterHelp lost 5% of paying users during the second quarter of 2025. The strategy to improve value includes expanding insurance acceptance, which is now live in 7 states and D.C. Excluding revenue from insurance, BetterHelp generated over $150 million in total revenue in Q3 2025.

Clinical quality and seamless referral capabilities

Clinical quality is supported by connecting members to high-quality specialty providers through the Prism care platform. For high-cost claims, partners like Carrum Health connect members to top 10% providers across the country for surgery and cancer treatment using a value-based model. The platform empowers care teams to view member eligibility and seamlessly refer them to appropriate partner programs at the point of care.

Here's a quick look at the segment financial performance in Q3 2025:

Metric	Integrated Care Segment	BetterHelp Segment
Revenue (Q3 2025)	$389.5 million	$236.9 million
Year-over-Year Revenue Change	Up 2%	Down 8%
Adjusted EBITDA Margin (Q3 2025)	17.0%	1.6%

If onboarding takes 14+ days, churn risk rises, so seamless referral is defintely key for engagement.

Finance: draft 13-week cash view by Friday.

Teladoc Health, Inc. (TDOC) - Canvas Business Model: Customer Relationships

You're looking at how Teladoc Health, Inc. manages its relationships across its diverse user base, which spans from massive employers to individuals managing complex conditions. It's a mix of high-tech automation and dedicated human touch, which is key to retaining that massive membership base.

Dedicated account management for large enterprise clients (B2B)

For your large enterprise clients-the health plans, employers, and health systems-the relationship is definitely managed through dedicated account management. This structure is crucial for driving adoption and demonstrating return on investment (ROI) to the plan sponsors. Case studies showing tangible results are a core part of retaining these B2B customers. For instance, the Cylinder Health partnership, part of the connected care ecosystem, showcases a meaningful ROI with an average of 13% engagement for members accessing their digestive health support. This dedicated, consultative approach helps address the concern, noted by over 70% of large employers in a recent survey, about siloed care experiences.

Automated, self-service digital interactions via mobile app

The day-to-day interaction for the member is heavily automated and self-service, centered around the unified mobile app. This platform is where members get single sign-on access to various services. Teladoc Health, Inc. is focused on meeting modern consumer expectations for digital engagement; they are reaching over 5 million consumers weekly through paid media alone to drive initial use. Furthermore, when applying their journey-based marketing approach, they have seen results like more than a 5x lift in enrollment in just 90 days for some clients, showing the power of automated, personalized digital nudges.

Personalized care journeys and follow-up for chronic care

The personalization really shines in the chronic care offerings, which are built on the foundation of the acquisition of Livongo. These journeys are highly tailored. For example, a member newly diagnosed with diabetes receives not just monitoring but physician support for medication adjustments and mental health support. The scale here is significant; as of early 2025, Teladoc Health, Inc. had more than 93 million members under its Integrated Care umbrella. The effectiveness of these personalized, data-driven care teams is reflected in strong outcomes, such as a 66% decrease in high-risk patients reported in some chronic care programs. Retention in these intensive programs is also high, with a 90% member retention rate at one year being cited.

High-touch customer support for both members and providers

While the front-end is digital, the back-end support for both the member and the referring provider requires a high-touch element. This includes support for complex issues, medication fulfillment follow-up, and ensuring seamless referrals within the connected care network. The company is actively investing in its infrastructure, including upgrading its customer relationship management systems, which points to a strategic focus on improving the efficiency and quality of these support interactions. The Integrated Care segment revenue for the third quarter of 2025 stood at $389.5 million, showing the ongoing scale of the services requiring this support structure.

Here is a snapshot of some key relationship and scale metrics as of the latest reporting periods in 2025:

Metric Category	Specific Data Point	Value/Amount
Scale of Membership (Early 2025)	Total Members (Integrated Care)	More than 93 million
Chronic Care Performance	Member Retention Rate (One Year)	90%
Chronic Care Impact	Decrease in High-Risk Patients	66%
B2B Client Engagement Metric	Average Engagement in Partner Program (Cylinder Health)	13%
Digital Reach (Marketing)	Consumers Reached Weekly via Paid Media	Over 5 million
Latest Segment Revenue (Q3 2025)	Integrated Care Segment Revenue	$389.5 million
Latest Segment Profitability (Q3 2025)	Integrated Care Segment Adjusted EBITDA Margin	17.0%

The focus on data-driven journeys is supported by a commitment to infrastructure; the company reported costs related to upgrading its customer relationship management systems as part of its transformation initiatives.

• Enrollment lift observed for one client using journey-based marketing: More than 5x in 90 days.
• U.S. Integrated Care members projected by end of 2024: Between 93.5 million and 94.5 million.
• Integrated Care segment revenue growth (YoY Q3 2025): 2%.
• Digital marketing reach: Over 5 million consumers weekly.

Finance: draft 13-week cash view by Friday.

Teladoc Health, Inc. (TDOC) - Canvas Business Model: Channels

The Channels block for Teladoc Health, Inc. is defined by a dual approach, serving large enterprise clients through a dedicated sales structure and reaching consumers directly, particularly through the mental health platform.

Direct sales force to employers and health plans

The Integrated Care segment, which targets employers and health plans, relies on a direct sales force to secure and maintain large-scale contracts. This segment shows revenue growth, acting as the stabilizing pillar for the overall business as of late 2025.

For the first nine months of 2025, the Integrated Care segment generated revenue of $1,170.5 million, marking a 3% increase year-over-year. In the third quarter of 2025, this segment brought in $389.5 million, up 2% compared to the same period in 2024.

The reach into the employer and health plan market is substantial, with U.S. Integrated Care Members reported at 102.5 million as of March 31, 2025. However, the monetization per member in this channel shows some compression.

Metric	Q3 2025 Amount	Year-over-Year Change (Q3 2025 vs Q3 2024)
Integrated Care Segment Revenue	$389.5 million	Up 2%
Integrated Care Segment Adjusted EBITDA Margin	17.0%	Not specified
Average Monthly Revenue Per U.S. Integrated Care Member (Q1 2025)	$1.27	Down 8%

Teladoc Health mobile application and web portal

The primary interface for service delivery across both segments is the Teladoc Health mobile application and the corresponding web portal. This digital front door facilitates access to the core virtual care offerings.

While specific 2025 active user metrics for the general platform are not explicitly detailed, the company was noted as topping the telemedicine mobile app segment based on prior year performance, with 2024 annual revenue reaching $2.56 billion.

The platform supports a broad range of services, which are accessed through these digital channels:

• Same-day care for common conditions.
• Personalized weight loss and healthy living plans.
• Management and prevention for diabetes.
• Blood pressure management.
• Access to mental health services.

Integration into client (payer/employer) benefit portals

A key channel strategy involves embedding Teladoc Health services directly within the existing digital infrastructure of payers and employers. This is particularly relevant for the BetterHelp segment as it shifts toward an insurance-covered model.

By the second quarter of 2025, the company had expanded its covered population for insurance-backed mental health services to 115 million lives through new payer contracts. Furthermore, over 2,000 BetterHelp therapists had engaged in the credentialing process to accept insurance coverage by Q2 2025, indicating a focus on making the service accessible through existing benefit structures.

Direct-to-consumer online marketing (BetterHelp segment)

The BetterHelp segment operates predominantly through direct-to-consumer online marketing, though the strategy is evolving to incorporate insurance acceptance. This channel has faced revenue pressure in 2025.

For the nine months ended September 30, 2025, the BetterHelp segment revenue was $717.2 million, a 9% decrease year-over-year. In the third quarter of 2025 alone, revenue was $236.9 million, down 8% from the prior year's third quarter.

The profitability of this channel is significantly lower than the Integrated Care segment, with the BetterHelp segment Adjusted EBITDA margin reported at 1.6% for Q3 2025. The company's full-year 2025 guidance projected a revenue drop for BetterHelp between 6.8% and 9.2%.

BetterHelp Segment Metric	Nine Months Ended Sept 30, 2025	Third Quarter 2025
Revenue	$717.2 million	$236.9 million
Year-over-Year Revenue Change	Decreased 9%	Decreased 8%
Adjusted EBITDA Margin	Not specified	1.6%

Finance: draft 13-week cash view by Friday

Teladoc Health, Inc. (TDOC) - Canvas Business Model: Customer Segments

You're looking at the core groups Teladoc Health, Inc. serves to drive its business. This isn't just about selling a service; it's about embedding virtual care into the existing structures of major healthcare purchasers. The customer segments are quite distinct, spanning large institutional buyers to individual end-users, though the institutional side is the clear volume driver for the Integrated Care segment.

Health plans and insurance companies represent a massive base for the Integrated Care segment. These are the entities that contract with Teladoc Health, Inc. to offer virtual care as a benefit to their entire covered population. The scale here is significant, reflecting deep integration into the payer ecosystem.

For instance, by the first quarter of 2025, Teladoc Health, Inc. reported providing access to between 101.5 and 102.5 million U.S. members within its Integrated Care segment. More broadly, as of March 2025, the company stated that more than 93 million Americans had access to at least one Teladoc Health product or service via their health plan or employer. The company concluded 2024 with its strongest bookings in the employer channel since 2020.

The segment serving large self-insured employers seeking cost reduction is a critical component of the Integrated Care strategy. These employers directly bear the cost of their employees' healthcare, making cost-efficiency and improved outcomes a primary driver for adoption. The company has been focused on expanding its footprint here, adding TRICARE, the civilian health care program for the U.S. Armed Forces, retirees, and their dependents, to its Integrated Care membership in 2025. Furthermore, legislation in 2025 made permanent the policy allowing first-dollar coverage for virtual care under high-deductible health plans, which covers about 40% of commercially insured Americans, directly benefiting the employer segment by encouraging earlier intervention.

Hospitals and health systems needing virtual capacity form another key institutional segment. Teladoc Health, Inc. offers solutions that help these providers manage patient flow and capacity constraints. A specific example of this support is a new solution designed to help inpatient teams by allowing a single remote staff member to monitor more patients, which directly addresses increasing capacity needs. As of January 2025, the company reported having 10,000 total customers, which includes health systems.

Finally, individual consumers seeking mental health services are the primary customer for the BetterHelp business, which operates largely on a direct-to-consumer, cash-pay model, though this is evolving. This segment is characterized by a focus on convenience and rapid access to care.

Here's a quick look at the scale and performance metrics for the BetterHelp side of the business as of late 2025 reporting periods:

Metric	Value/Range	Reporting Period/Context
2024 Annual Revenue	$1.03 billion	2024 Full Year
Q2 2025 Revenue	$240.4 million	Q2 2025
Q1 2025 Revenue	$239.9 million	Q1 2025
Projected 2025 Revenue Decline (Year-over-Year)	8% to 9.2% decline	Narrowed guidance for the full year
2025 Insurance Revenue Expectation	$12 million to $14 million	2025 Guidance
Total Licensed Therapists	Over 34,000	As of early 2025
User Symptom Reduction (Anxiety/Depression)	72%	BetterHelp users
Therapist Matching Speed	95% in less than 48 hours

The acquisition of UpLift in April 2025 for $30 million (plus a $15 million earnout) brought in 1,500 mental health professionals and in-network relationships covering 100 million lives, which is a direct play to integrate insurance coverage into the consumer-facing BetterHelp model. The soft launch of insurance coverage in one state by late June 2025, with new contracts adding 15 million insured lives, signals a strategic shift away from pure cash-pay reliance.

You can see the dual nature of the customer base clearly in the segment performance, where Integrated Care revenue grew 4% in Q2 2025, while BetterHelp revenue declined 9% year-over-year in the same quarter.

The core customer segments are:

• Health Plans/Insurers: Covering 101.5 - 102.5 million U.S. members in Integrated Care as of Q1 2025.
• Self-Insured Employers: Driving solid results in 2025, with the strongest bookings since 2020 in 2024.
• Hospitals/Health Systems: One of 10,000 total customers as of early 2025.
• Individual Consumers (BetterHelp): A segment with over 34,000 clinicians, aiming for stability through insurance integration.

Finance: draft 13-week cash view by Friday.

Teladoc Health, Inc. (TDOC) - Canvas Business Model: Cost Structure

You're looking at the cost side of Teladoc Health, Inc.'s operations as of late 2025. This is where the money goes to keep the platform running and the care flowing. Honestly, the structure shows a heavy reliance on variable costs tied to service delivery, but significant fixed-like costs remain in technology and brand building.

Significant clinician compensation and network management costs form the largest component of the Cost of Revenue. While the exact dollar amount for clinician pay isn't broken out separately in the latest filings, it is the primary driver of the Cost of Revenue. For the first nine months of 2025, the total Cost of Revenue was reported as $763.4 million. This cost is directly tied to the volume of care delivered across both the Integrated Care and BetterHelp segments.

Technology development and platform maintenance expenses are critical for the Prism care delivery platform and general infrastructure. Looking at the first quarter of 2025, Technology and development costs totaled $69,958 thousand, down from $81,388 thousand in the first quarter of 2024. This shows a focus on managing these technology outlays year-over-year.

Sales and marketing costs reflect the ongoing effort to acquire and retain users, particularly for the BetterHelp segment, which is facing market headwinds. In the first quarter of 2025, Advertising and marketing expenses were $168,185 thousand, and Sales expenses were $48,693 thousand. The BetterHelp segment's adjusted EBITDA margin in the third quarter of 2025 was thin at just 1.6%, suggesting marketing spend has a high hurdle to clear for immediate profitability in that segment.

Non-cash charges related to past acquisitions and strategic shifts are also material. You definitely need to track these as they impact the GAAP net loss significantly. Amortization of intangibles, which represents the write-down of assets from prior deals, was $85.8 million in the third quarter of 2025. For the first nine months of 2025, this charge accumulated to $258.7 million.

Restructuring costs and goodwill impairment charges highlight specific, non-recurring financial events. The third quarter of 2025 included a non-cash goodwill impairment charge of $12.6 million, which was linked to the carrying value of the Integrated Care segment following the Telecare acquisition. Restructuring costs for the third quarter of 2025 were $2.0 million, primarily related to severance and office space reductions. For the first nine months of 2025, total restructuring costs reached $12.0 million.

Here's a quick look at some of the key cost line items from the first quarter of 2025 and the third quarter of 2025 GAAP charges:

Cost Category	Period	Amount (in millions USD)
Cost of Revenue (Total)	Nine Months Ended Sept 30, 2025	$763.4
Technology and Development	Three Months Ended March 31, 2025	$69.96
Advertising and Marketing	Three Months Ended March 31, 2025	$168.19
Sales Expense	Three Months Ended March 31, 2025	$48.69
Amortization of Intangible Assets	Three Months Ended Sept 30, 2025	$85.8
Amortization of Intangible Assets	Nine Months Ended Sept 30, 2025	$258.7
Goodwill Impairment Charge	Three Months Ended Sept 30, 2025	$12.6
Restructuring Costs	Three Months Ended Sept 30, 2025	$2.0

The cost structure also includes other significant, though less frequently detailed, expenses:

• General and administrative costs for Q1 2025 were $112,774 thousand.
• Stock-based compensation expense for Q3 2025 was $17.0 million pre-tax.
• For the first nine months of 2025, stock-based compensation expense totaled $64.5 million pre-tax.
• The average Teladoc Health salary in the US for 2025 is estimated at a median of $83,848 per year.

Finance: draft 13-week cash view by Friday.

Teladoc Health, Inc. (TDOC) - Canvas Business Model: Revenue Streams

Full-year 2025 projected revenue: $2.51 billion to $2.53 billion.

The core revenue generation for Teladoc Health, Inc. is split between recurring subscription revenue and transactional/service-based revenue streams, primarily driven by the Integrated Care segment.

For the third quarter of 2025, total revenue was $626.4 million.

The primary components of revenue generation as seen in the Q3 2025 results are detailed below:

Revenue Stream Category	Q3 2025 Amount	Year-over-Year Change (Q3)
Access fees (subscription-based)	$520.9 million	Decreased 6%
Other revenue (Includes visit fees, equipment sales, etc.)	$105.5 million (Calculated: $626.4M - $520.9M)	Implied growth from Q1/Q2 trends
Integrated Care Segment Revenue (Includes chronic care program fees)	$389.5 million	Increased 2%

Health management program fees, such as those for chronic care management, are embedded within the Integrated Care segment revenue, which was $389.5 million in Q3 2025. Revenue from equipment sales to hospital systems is included within the Other revenue category, which was approximately $105.5 million in Q3 2025.

Visit fees paid by individuals or their health plans vary significantly based on coverage:

• General Medical visit fee for self-pay members: $75 per visit or $89 per visit.
• Mental Health care visit fee for self-pay members: $119 per visit.
• Visit copay for members with insurance coverage: Can be as low as $0 per visit, or a fixed $10 copay for some plans.
• For certain Blue Cross NC members in 2025, telehealth services are available at no cost ($0).

The subscription-based Access fees are calculated on a per member per month basis, though the specific PMPM rate isn't explicitly stated in the latest filings, the total revenue for this stream was $520.9 million in Q3 2025.

Finance: draft 13-week cash view by Friday.