will combine Cleveland Clinic's health services with the telehealth expertise of American Well to deliver what the pair call a first-of-its-kind telehealth platform focused on comprehensive, specialty, and high-acuity care — for patients both in the US and internationally.American Well and Cleveland Clinic are pulling on years of shared history to create The Clinic — and we think the JV has major upsides for both organizations.
Cleveland Clinic is leveraging telehealth as a long-term revenue strategy. Cleveland Clinic is no doubt aware of the consumer interest swirling around telehealth: Nearly half of US consumers covered by an employer health plan said they'd be willing to supplant in-person care with a virtual doctor's visit via a telehealth platform — and 62% of those individuals said they'd give up face-to-face care for the ongoing assessment of a physical condition or ailment, a 2019 PwC report.
Meanwhile, the JV gives American Well a chance to steal away market share from rivals like Teladoc. American Well is a rising star in the telehealth space, scoring
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