Avizia's Acquisition Reflects Rising Convergence of Competitors in Telemedicine
Teladoc, American Well, and MDLive find themselves competing more directly with Avizia this week after Avizia’s acquisition of the direct-to-patient telemedicine software and service provider Carena. Carena’s physician panel provides Avizia the opportunity to provide services to its growing roster of hospital clients.
Carena has marketed itself as a clinical-services-first, software-second telemedicine provider for hospitals seeking to provide remote primary and urgent care. Based on prior conversations between Splash 4 Partners and industry experts, Carena has been viewed by hospitals as a software provider for hospitals looking to provide direct-to-patient primary- and urgent- care that also offers remote clinicians staffing. Avizia is primarily a technology company, whose software and workflow processes meet hospitals’ and provider groups’ telemedicine needs throughout the hospital setting and across specialties. The Carena acquisition comes at a time when Teladoc, American Well, and MDLive are actively seeking to leapfrog into specialty areas throughout the hospital from their primary- and urgent-care vantage point.
Splash 4 Partners sees this acquisition as yet another data point in the convergence of technology and services in the telemedicine space. EMR providers, such as Cerner and Epic, offer up their own telemedicine modules that compete with Avizia and the other named players by allowing hospitals to provide tele-consults from within the electronic medical record system. EMR based telemedicine modules have the potential to help hospitals leverage and load balance their own staff, without having to access a third party’s clinicians. The regulatory frameworks governing telemedicine are rapidly changing, creating an environment that encourages greater competition and convergence, along with more marriages between technology vendors and services vendors.