The Expert Podcast

…There are an interesting couple of developments in the virtual industry profession where telemedicine or telehealth. is maybe a Canary in the coal mine for some other businesses back in 2000 19 and 20 there were several telemedicine companies that took off that were really big with growth. A lot of it had to do with. The pandemic and lockdowns and providing these services without direct human interaction. And there was a, plethora of companies that did this cerebral which a big company that came up with a billion dollar valuation, Amazon even had their own tele. medicine division. Well some of these are now starting to deteriorate Amazon. Is cutting jobs because they shut down their tele-health service. This company cerebral is laying off 20% of its staff for what they call operational efficiencies Now there may be more to it than just these stories. each one of these has its own. reasoning behind it Amazon maybe wasn't committed to that space and cerebral has some issues with, the way that they did prescriptions Maybe didn't. meet the guidelines for the FDA, according to the article. but it does show that there was a big. increase in the adoption of virtual services everything from vehicles you know Carvana and. And room. To telemedicine companies got a big boost from lockdowns people staying home well now. that the lockdowns and the pandemic is essentially over a lot of these companies now. Have overstayed their welcome and they're starting to have to shrink down their footprint. The question is. Will virtual. services be the norm or was it just a flash in the pan Was it a fad that now people want to see each other in person I suspect. That the virtual delivery of goods and services like telehealth and telemedicine. in a long run will become popular again, but now for the next year or two people are going to have this. Need and want to see people in person look we're a social species We want to see people. There is a convenience factor of delivering it remotely That's why we use door dash and the other delivery services for groceries But. When it comes to a service where a direct conversation with a person is important like telemedicine, sometimes people want to do that in person, not over a computer screen. when you're ordering groceries. We don't really need to talk to a person. when you're. Talking about your, health. situation and getting a diagnosis You may want to see somebody in person or they may need to see you just to diagnose. Physical conditions. Tell us what your thoughts are and the comments about the future of virtual services being provided. And what do you think the future of these types of industries? And I will be down the road.