Research Article
The Impact of Telemedicine and Virtual Software on the Healthcare Industry during COVID-19 Based on SWOT, PEST & BCG Matrix Analysis
@INPROCEEDINGS{10.4108/eai.18-11-2022.2326949, author={Alan Fu and Yanzi Liu and Jiayu Xu and Shengtong Yang}, title={The Impact of Telemedicine and Virtual Software on the Healthcare Industry during COVID-19 Based on SWOT, PEST \& BCG Matrix Analysis}, proceedings={Proceedings of the 4th International Conference on Economic Management and Model Engineering, ICEMME 2022, November 18-20, 2022, Nanjing, China}, publisher={EAI}, proceedings_a={ICEMME}, year={2023}, month={2}, keywords={healthcare industry; online medical service; telemedicine; covid-19}, doi={10.4108/eai.18-11-2022.2326949} }- Alan Fu
Yanzi Liu
Jiayu Xu
Shengtong Yang
Year: 2023
The Impact of Telemedicine and Virtual Software on the Healthcare Industry during COVID-19 Based on SWOT, PEST & BCG Matrix Analysis
ICEMME
EAI
DOI: 10.4108/eai.18-11-2022.2326949
Abstract
Contemporarily, telehealth and online healthcare software are concerned by the public since COVID-19 epidemic is still raging. To evaluate the development of telehealth and online healthcare software and its impact, financial data, analysis models, and some other factors are employed. For the overall analysis of the telehealth industry, PEST analysis is carried out, and the variation of policies, economies, society, and technology is included to analyze. For the leading company- Teladoc Health, Inc., the financial data are derived and different financial ratios, including risk ratios, profitability ratios, and market ratios are calculated and employed. Additionally, the SWOT analysis model is also employed to display the comprehensive condition of Teladoc Health, Inc. For other companies of the telehealth industry (e.g., Doximity, Inc., American Well Corporation), financial ratios are calculated and utilized in BCG Matrix to analyze. Besides, some smaller companies are also analyzed based on their action versus the time and the pandemic. Finally, an overall analysis based on different perspectives also reveals a future prediction. According to the results, the telehealth industry would expand significantly, and it might change the future approaches of the healthcare industry. These results shed light on the future trend of variation of healthcare industry with the co-existence of human being and the pandemic.
