Telemed, Inc. (TLMD) Reports Q1 EPS of $0.00

Telemed, Inc. (NASDAQ: TLMD) reported Q1 revenue of $14.8 million versus the consensus estimate of $13.97 million.

"Our first quarter results reflect a strong start to 2021," said John Kalix, CEO of SOC Telemed. \"We are pleased with both our combined business bookings and revenue results. As hospitals are still in the initial phase of recovery from the COVID-19 pandemic, we're encouraged with the early signs and believe that we are incredibly well positioned as the leader in addressing the challenges of acute care delivery. We believe our solutions will enable our partners to provide quality care to their most acute patients."

While telehealth volume nationally was down 16% in February as compared to January 2021, according to a FAIR Health report, SOC Telemed\'s patient consult volume was up in Q1 2021 vs Q4 2020. Sequentially, Q1 saw an increased demand for care in acute services, particularly psychiatry, distinguishing the acute care telemedicine space from other areas of the telemedicine market, including direct to consumer.

Mr. Kalix continued, "With the increased scale and expanded service line offerings from our recent acquisition of Access Physicians, coupled with our secure, award-winning Telemed IQ platform, we believe we are well-positioned to strategically address the market need for a single partner for acute care solutions. The acquisition was a critical evolution by the organization. We believe our ability to address network integrity in keeping care within a hospital\'s network, coupled with growing acceptance of the quality of care that can be provided via telemedicine, are proving to be meaningful tailwinds for SOC."

In March, SOC achieved reaccreditation by the Joint Commission through their Gold Seal of Approval, a symbol of quality that reflects a healthcare organization\'s commitment to providing safe and quality patient care. Additionally, earlier this week, SOC Telemed\'s secure Telemed IQ platform was awarded the 2021 MedTech Breakthrough Award for \Best Overall TeleMedicine Platform", highlighting that "SOC Telemed represents excellence in the field."

Mr. Kalix closed, "We remain focused on quality and innovation. The Joint Commission's Gold Seal of Approval and the 2021 MedTech Breakthrough Award both serve as a testament to that commitment."

For earnings history and earnings-related data on Telemed, Inc. (TLMD) click here.

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