Zocdoc has reported strong growth, with annual revenue up by more than 35% before the pandemic and despite the disruptions provoked by the pandemic, the company’s on track to reach a new record revenue. Total corporate funding for digital health including venture capital, debt and public market financing reached $21.6B in 2020, which is up 103% compared to $10.6B in 2019, according to a year-end report by the research firm Mercom Capital Group. Increasing incidences of chronic conditions and rising demand for self-care medicines are the key factors driving the market.ĭigital health funding has hit record levels propelled by the technology boom during the COVID-19 pandemic.

The global telemedicine market size is expected to reach $155.1B by 2027, expanding at a CAGR of 15% over the forecast period. In May 2020 the company’s founder and CEO Oliver Kharraz told Engadget that video visits now account for 30 to 40 percent of overall bookings, up from “essentially zero at the beginning of March.” Market Opportunities Using Zocdoc, 10,000 providers have carried out nearly one million video appointments across 100 specialities. Zocdoc has become one of the few digital medical platforms providing for both face-to-face and online medical consultations. The company has launched the Zocdoc VideoService (VSP) that helps patients communicate with specialists without risks, get consultations and monitor treatment progress online. The platform was a leader in the market of online medical appointments, and during the pandemic, Zocdoc entered into a partnership with Twilio and entered the fast-growing telemedicine market. The company was founded in 2007 and is headquartered in New York. Zocdoc is an online platform where patients can find the right specialist, make an appointment and get a video consultation.

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