Google Backs Virtual Care with $100M Funding

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Google Cloud backs access to virtual health consultation in partnership with Amwell, delivering telehealth solutions across the globe.

A multi-year partnership between the two companies can expand people’s access to virtual care, ultimately improving the patient and clinician experiences while staying home. Multinational Tech Company Google injected $100 million in funding to Amwell to enrich the telehealth experience.

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Google Cloud selected Amwell as its preferred telehealth platform partner to migrate video performance capabilities for customers around the globe. The collaboration focuses on artificial intelligence and machine learning technologies to assist frontline workers and patients.

Google Backs Virtual Care

Following the injection of funds, Amwell or formerly known as American Well, announced that it will go public. Part of the partnership is moving Amwell’s business to Google Cloud from Amazon Web Services.

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Amwell can expand its footprint in the telehealth sector as Google backs the company. With advanced technology and more loyal users, the telehealth provider can increase sales.

The news came after Teladoc merged with Livongo for $18.5 billion. With heightened demand for virtual care, the success of tapping more customers is higher. People can’t easily go out to get a consultation, and with telehealth services, they can easily connect to a healthcare professional.

“We view this rapid embrace of healthcare delivery by a patient’s own doctor as evidence that doctors are increasingly using telemaching to reach their patient population, patients are amenable to receiving care by their doctor virtually,” said Amwell.

In the second quarter of the year, Amwell saw a swelling in the average monthly visit volumes and monthly active providers by over 300 percent to 400 percent. The company recorded a total of 2.2 million telehealth visits in the second quarter.

Almost 77 percent of visits are performed by the health systems’ own providers. The sudden boom indicates a high demand for healthcare consultation amid the pandemic. Data from the first quarter indicates only 700,000 telehealth visits, which is a sudden jump to the 2.2 million visits in the second quarter.

According to Amwell, the visits per day went up to 40,000, versus the 2,900-telehealth visits back in April 2019.

“While the COVID-19 crisis is a unique event, we believe that utilization of the Amwell platform will remain at higher levels after the crisis versus levels previously forecasted before the crisis,” stated Amwell.

Last May, the company raised a funding of $194 million to keep up with the surge in demand for virtual healthcare services.

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