Top 10 Virtual Healthcare Companies Leading D2C Healthcare
Explore D2C virtual healthcare companies that are paving the way. Discover the top telehealth companies from dermatology to mental health.
A lot has been written about the impact of the global health crisis and digital health. Remote medicine has flourished under the pressure of a pandemic and telehealth has fully entered the mainstream. Typical care regimens have been altered permanently as we opt for telehealth appointments before an in-office doctor visit. 2020 healthcare spending reflected this growth as healthcare investments were up 18% and healthcare funding hit a record $21.8 billion.
Even before COVID, the paradigm was shifting towards consumer-driven healthcare, with vertical-specific companies providing a completely new way for clients to experience health. Beyond a sleek brand, D2C virtual healthcare startups offer something new, efficient, and more compatible with the rigors of modern life.
With consumer interest in D2C digital health soaring, and new telehealth startups launching every month, there are exciting movements to track. K1 Solutions free starter plan allows you to follow new trends and manage your practice.We’re highlighting some of the most innovative companies offering D2C virtual health services.
Curology is an example of a good strategy and luck. It grabbed a niche that won’t exhaust its growth so soon. Curology cracked a success formula in virtual healthcare by focusing on one market, one target group, and one product recently extended to a line of three.
By enabling skincare treatment through a mobile app with selfie upload, a network of dermatologists, a monthly subscription, and branded care products, Curology raised $19.2M between 2014 and 2021.
Virtual Type 2 Diabetes Management
Virta is another monthly subscription based telehealth company . At its core, Virta connects diabetes patients with specialists through a mobile application that stores biomarkers. Apart from targeting physical persons, it aims to partner with organizations, governmental and private, ensuring the sustainability of its revenue.
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Motherhood and Perinatal Virtual Healthcare
Contrary to the previous two, Maven chose a slightly different model for monetizing its virtual healthcare delivery platform. End consumers pay per appointment, whereas their employers can integrate Maven’s service packages with their existing health plan carriers.
The platform positions itself as a full-stack fertility and maternity care provider. It hosts a network of various specialists and constantly adds new services, such as parenting skill training.
Between 2014 and 2021, Maven attracted funds worth $202.1M in total and also earned a unicorn status.
Men’s and Women’s Virtual Health Services
Hims & Hers Health, Inc.
Hers combines two pricing models: monthly plans and per-appointment payments.
Hers virtual healthcare company competes with Curology in the skincare market but its main focus is on female mental health, hair beauty, and sexual life. Like Curology, it sells products directly to customers in a branded package. And, similarly to Maven, Hers enables clients to get virtual appointments with doctors for drug prescriptions.
Hims & Hers Health, Inc. is believed to cost $1.6B with a $60M monthly revenue steadily growing at 61% speed thanks to a total amount of $233.2M of the raised funds.
The brother of Hers, Hims, offers the same range of treatments which are online consultations, wellness products, and medications. Clients use the same mobile app based questionnaire. The platform hands their answers over to a board of specialists.
Hims’ sources of profit are monthly subscriptions, per-visit payments, and sales of physical goods. In January 2021, Hims & Hers Health, Inc. abandoned its unicorn status to go public on the NYSE.
Ro, also known under its legal name Roman Health Medical LLC, is another top telehealth company and virtual healthcare unicorn. It split its business into women’s and men’s health brands, Rory and Roman, respectively.
Ro earns money mostly by selling their branded care products and medications for treating pretty much the same issues as Hims & Hers. Ro offers online consultations for a ludicrously low fee. However, practitioners have to pay for using the software.
To develop both brands, Ro went through multiple fundraising rounds that allowed to collect $876.1M. It is 4 times more than Hims & Hers, founded in the same 2017, needed to keep pace.
Virtual Weight Loss Program
Calibrate aims to disrupt the weight loss industry with a year-long virtual program focused on resetting the metabolism. The D2C healthcare startup combines FDA approved medication, accountability coaching, a mobile app, and a smart scale to deliver its obesity-fighting program.
Preliminary results show that since last June, Calibrate has been growing 54 percent month over month, and members are achieving at least 10 percent weight loss according to founder Isabelle Kenyon. Calibrate most recently raised $22.5 million in Series A funding which will be used to develop the company’s technology and expand into additional states beyond New York, California, Texas, Pennsylvania, Illinois, New Jersey and Ohio.
Virtual Mental Health Services
Ro, Hims, and Hers all cover a wide range of mental health issues, such as anxiety and depression. Cerebral deals with the last two but still managed to become a unicorn with a total funding amount of just $162M.
Cerebral does not separate video sessions from the treatment package and charges only a monthly subscription.
NOCD, a smaller virtual healthcare startup, discovered that a narrow focus can legitimate higher pricing. Clients reported payment plans at around $50 per week: the highest among all!
NOCD saw a chance in the rising number of obsessive-compulsive disorder complaints as the pandemic forced many to cut important social contacts.
The company recently raised $33M of its total $50M-worth fundraising history.
Online Migraine Treatment
Thirty Madison, the last unicorn on our list, owns multiple brands, including Cove. This D2C healthcare company exploits a scheme with a monthly subscription, for which clients get a treatment plan and medications. The treatment is proposed by a specialist based on an online questionnaire and two videos uploaded by the customer.
Thirty Madison’s success required $209.8M of funding between 2017 and 2021. It relies on the diversification strategy of virtual health services. Each brand focuses on solving literally one pain: migraine, stomach pain, hair loss, or allergy.
The Future of D2C Virtual Healthcare
The end of 2020 marked the close of a historic year for healthcare investing. With so many virtual healthcare providers flourishing and new offerings on the horizon, healthcare consumers have much to look forward to. What remains to be seen is which providers will deliver on their promises and become mainstays in the healthcare industry. Those that offer truly longitudinal care with an emphasis on preventative care will have the highest chance of success.
Not every D2C healthcare company becomes successful per se. The right timing, target group, and features increase the chances of a breakthrough in this highly competitive domain.
K1 Solutions can provide you with a free starter plan so you can try out all of our most sought-after features with none of the risks. Click here to sign up.If you’re interested in using this technology to take your place at the forefront of the healthcare revolution, contact us to see if K1 Solutions API is right for you.