Latest news with #telehealth
Yahoo
19 hours ago
- Business
- Yahoo
Hims & Hers Health trims workforce amid strategic realignment
-- Hims Hers Health Inc (NYSE:HIMS), a telehealth firm known for offering consumer-focused digital healthcare, is reducing its headcount by more than 4% as part of a pivot in its business strategy, according to Bloomberg. The decision impacts 68 employees across multiple divisions of the San Francisco-based company, which employs over 1,600 staff. The layoffs come as Hims moves away from leveraging regulatory loopholes that allowed it to sell cheaper, compounded versions of in-demand weight-loss drugs like Wegovy and Zepbound. With brand-name shortages largely resolved, the firm is shifting its attention to longer-term strategic investments. 'While not easy, this step reflects our commitment to invest in the areas that will define our future,' a spokesperson for the company said in a statement provided to Bloomberg. 'As part of this broader change, we will continue to actively hire for roles critical to our long-term strategy.' The news was first disclosed in Emily Sundberg's business newsletter Feed Me, following months of speculation about how telehealth platforms would adapt as the market for weight-loss drugs stabilizes. Hims had quickly become a key player by offering lower-cost alternatives when supply constraints propelled demand for off-brand equivalents. The company's valuation has soared, with its market capitalization reaching $12.7 billion as of its latest earnings report. This rapid growth was largely fueled by sales of compound versions of high-profile medications, capitalizing on temporary shortages that opened a window for telehealth platforms to scale. To sustain momentum, Hims recently announced a deal with Novo Nordisk A/S (NYSE:NVO) to distribute branded Wegovy at discounted rates. That partnership marks a notable departure from the firm's earlier reliance on generics and compounded imitators, indicating a move toward legitimizing its pharmaceutical offerings through strategic alliances. Industry watchers suggest the strategy may help the firm navigate rising scrutiny from U.S. regulators over compounded drugs and online prescribing practices. While details about which roles will be eliminated were not disclosed, the company affirmed its intention to continue hiring in key growth areas, as it seeks to revolutionize the telehealth industry. Hims stock rose 7.9% in trade Friday. Related articles Hims & Hers Health trims workforce amid strategic realignment TSX falls marginally on U.S.-China talks stalling, despite GDP growth California senate probing Paramount over 2024 $15M offer to Trump's campaign
Reuters
a day ago
- Business
- Reuters
Hims to cut 4% of workforce amid ban on weight-loss drug copies
NEW YORK, May 30 (Reuters) - Telehealth platform Hims & Hers (HIMS.N), opens new tab said on Friday it will cut 68 employees, or about 4% of its workforce, as it adjusts to a U.S. ban on manufacturing mass copies of the weight-loss drug Wegovy. A U.S. Food and Drug Administration ban on compounded copies of Wegovy, made by Novo Nordisk ( opens new tab, took effect on May 22. Hims shares have since dropped 14%. The company said it is seeking new opportunities for growth, including an agreement with Novo to help patients access Wegovy. Hims plans to enter the market for low testosterone and menopause treatments and is looking at offerings to improve longevity and sleep. "These changes are focused on sharpening how we execute, without affecting our priorities or the specialties we're committed to," a company spokesperson said regarding the layoffs. Hims still plans to hire for roles related to its long-term growth plans. Bloomberg News reported the job cuts earlier on Friday. In 2022, the FDA declared a shortage of Wegovy, which has been shown to help patients lose around 15% of their body weight. That declaration allowed compounding pharmacies to produce the drug to meet demand. The FDA in February said Wegovy was no longer in shortage and ended the exception that allowed sale of mass compounded copies of the patented medication. Hims began offering copies of Wegovy in 2024, often at far lower prices than the brand-name version. That boosted subscriptions to the Hims telehealth platform, with revenue up 111% on a yearly basis during the first quarter of 2025. Wegovy copies and similar GLP-1 weight-loss drugs accounted for $200 million of the company's $1.5 billion revenue in 2024. Hims and its rivals have pivoted to what they say are customized copies of Wegovy that should not be subject to the FDA decision, featuring smaller doses or allowing for a more individualized plan for increasing dosage than offered by Novo. But analysts said that personalization strategy may not be enough to stave off new legal challenges from Novo. "It remains to be seen whether HIMS method of personalization (titration and dosage) is enough to meet the compounding clinical exemption need," said Jailendra Singh, a healthcare analyst at Truist.
Bloomberg
a day ago
- Business
- Bloomberg
Telehealth Firm Hims Cuts Over 4% of Staff in Strategy Shift
Hims & Hers Health Inc. is cutting more than 4% of its workforce as it pivots away from selling cheap copycat versions of popular weight-loss drugs. The San Francisco-based telehealth company employs more than 1,600 staff. The moves will affect 68 people across various divisions, a spokesperson said. The company didn't say which positions will be affected.
Medscape
3 days ago
- Business
- Medscape
Physician Associates Continue to Embrace Telehealth
The use of telehealth continues to grow across the healthcare industry, including among physician associates (PAs). As noted in the American Academy of Physician Associates' (AAPA's) 2025 Salary Report, an annual survey that explores PA pay and practice insights, a remarkable 49% of PAs reported using telemedicine applications as part of their clinical work in the past year. Sean Kolhoff, senior research analyst with AAPA, said these results were not surprising, per se, but do show that there is now a growing acceptance of the efficacy of telehealth in PA practice. 'Compared to pre-COVID estimates of telehealth use among PAs — 9.6% in 2019 — it appears that PAs have been able to adapt the technology to best meet their specific practice needs,' he explained. 'This is emphasized by the specialties that have generally continued to use telehealth post-pandemic: 76.2% in primary care and 56.6% in internal medicine. These specialties perform many tasks, like initial diagnoses and patient follow-ups, that can effectively utilize telehealth.' About Medscape Data Medscape continually surveys physicians and other medical professionals about key practice challenges and current issues, creating high-impact analyses. For example, Medscape's Top 10 Telemedicine-Friendly States 2025 found that States have continued to update telehealth policies since the pandemic. A state's telehealth success also includes available connectivity for patients. States continue to invest in digital infrastructure to enhance connectivity. Tele-social work, tele-rehabilitation, and tele-occupational health are also on the rise. Dane Thomas, PA-C, MMS, a PA who specializes in hematology and oncology, said telemedicine use skyrocketed during the COVID-19 pandemic — and showed its value to healthcare providers and patients alike. 'The rapid adoption of these tools, which were accelerated just out of necessity, helped us see the benefits,' he explained. 'You see that a lot of patients like the flexibility and convenience of telehealth. And, as a provider, it's nice to be easily connected with patients through telehealth. It really gives us more flexibility. When we can see patients from home or from the office a couple days of the week, it lends itself to a better work-life balance.' Critics of telehealth sometimes say that nothing can beat the quality of an in-person appointment. Yet, research studies, particularly in primary care, suggest its use does not negatively affect patient outcomes. And with continuing workforce shortages, as well as concerns about patient access to care, telehealth applications provide a way for PAs, as well as physicians and nurse practitioners, to reach more people. 'I'd love to see it expand more in rural medicine,' said Thomas. 'I think we can give better access to care to patients who live in rural areas with telemedicine. Not just with primary care but also with specialty medicine. As it is, it's just really hard to get doctors in those areas.' Yet, as healthcare organizations consider the best ways to implement telemedicine, Tiffany Ryder, PA-C, said, 'The devil is in the details.' Ryder, who does not use telemedicine in her current role but did conduct appointments online regularly during the pandemic, said many health plans and hospitals are looking at how to best increase access to medical care without sacrificing quality. So, in her nonclinical role, advising those organizations about how to strike such a balance, telehealth, she said, comes up again and again. 'When telehealth should be used really comes down to the details and nuance of the situation you are trying to address,' she said. 'It's definitely not a one-size-all tool that can replace in-person visits.' For example, she said telemedicine works best when there is continuity of care. For patients who have a chronic medical condition and see the same primary care provider regularly, telehealth applications can be of great benefit. 'When you know your provider and they know you, you don't always need to come into the office to have a question answered or a prescription filled,' Ryder explained. 'That not only is more convenient for the patient but it also increases a PA's availability to see other patients who may be coming to urgent care or the emergency room [ER] for a more acute issue.' Furthermore, she said, telemedicine can also act as a 'super-educated triage nurse' to help determine where to best allocate provider resources in emergency and urgent care settings. 'If you are a parent, and your child falls off a bunk bed and hits their head, you don't have the knowledge or skills to make a decision about whether your kid needs to go to the ER,' she said. 'But if you can connect via telehealth with a PA on your way to the ER, tell that person what happened and let them ask those important red flag questions; they can then tell you whether you need to come in or whether you can go home and monitor the situation. You can better manage your provider resources, and I think that's a really great place where telemedicine can shine.' Thomas, for his part, hopes that more organizations will work to identify both the positives and negatives of telehealth use to make sure it is deployed in the right scenarios to enhance patient care. And, as Ryder said, the devil may be in the details of its continued use; both she and Thomas agreed that telehealth adoption will continue to grow in the future. Kolhoff added the AAPA's finding that telehealth use continues to increase speaks to the fact that 'PAs are adaptable to new and emerging technology that can improve the patient's experience and ability to access high-quality healthcare in a timely manner.' 'What the future may look like, no one knows,' he said. 'What we do know is that PAs will continue to adapt to new technologies as needed to ensure that patient needs are being met.'
Globe and Mail
3 days ago
- Business
- Globe and Mail
$787 Billion Digital Healthcare Market Redfined: New Initiatives to Reduce Maternal Deaths and Hospital Nursing Costs from AI Powered Telehealth Company: VSee Health (Nasdaq: VSEE)
$VSEE Major Clients Include NASA, U.S. Department of Health and Human Services, McKesson, DaVita and the Entire Nation of Qatar AI-Powered Telehealth Provider with Modular, No-Code/Low-Code Platform. 1,000+ Clients Including NASA, U.S. Department of Health and Human Services, McKesson, DaVita, and the Entire Nation of Qatar. Enabling Seamless, Scalable and Secure Digital Health Solutions Across Hospitals, Governments and Enterprise Organizations. "Lego-like" Digital Health Building Blocks to Design a Flexible Telehealth System System Feature Seamless Electronic Health Record (EHR) Integration, Advanced Data Visualizations and Other Scalable Capabilities for Future Needs. Launched New AI-Powered Telehealth to Reduce Maternal Deaths in Remote Philippines. Telenursing Robotics Solution Targeting 3-5% Reduction in Hospital Nursing Costs. Strategic Hospital Pilots and Research Partnerships Position Company for Scalable Growth in $787B Digital Health Market. Shareholder Letter Issued on Company Accomplishments, Initiatives and Strong AI Powered Product Pipeline Setting a Path to Record Success in 2025 $444K County Government Contract, Expanding into Public Sector Healthcare. Partnership Agreement with LanguageLine to Boost Telehealth Adoption with Seamless, Scalable Multilingual Care. $560K Contract with Major Oncology Network. Top Kidney Care Provider to Add VSee Workflow to Oracle Cerner EHR. $2M Contract for Neurocritical Care Expansion at Leading Hospital with Autonomous Robotics and Industry-Disrupting Telenursing Model. Multiple Other Awards in 2025 including Multi-Year, $6M First Year, Government Contract to Deliver Rapid Configurable Telehealth. VSee Health (Nasdaq: VSEE) is a rapidly growing leader in AI-powered telehealth, redefining the $787 billion digital healthcare market with its modular, no-code/low-code platform. Trusted by 1,000+ clients, including NASA, the U.S. Department of Health and Human Services, McKesson, DaVita, and the entire nation of Qatar, VSEE accelerates telehealth adoption by enabling seamless, scalable and secure digital health solutions across hospitals, governments, and enterprise organizations. Field-tested with 1.5 million+ HIPAA-compliant video encounters per month, VSEE delivers turnkey solutions in critical care, teleradiology, and autonomous robotics, optimizing healthcare operations while increasing billable patient visits and provider efficiency. With a clear path to significant revenue growth and expanding margins, VSEE is positioned to become the foundational infrastructure of digital healthcare, transforming patient care, hospital workflows, and workforce utilization. VSEE has a strategic partnership with AbundaBox to launch AbundaLife™, a groundbreakinghealth record management innovative solution addresses one of the most pressing challenges in healthcare—fragmented medical records—by consolidating personal health data into one secure, comprehensive profile. AbundaLife, supported by VSEE Health's dynamic technology, empowers individuals to manage their health more effectively, enabling providers to deliver better-coordinated care and improving health outcomes. VSEE also has an agreement wih Ava Robotics, a developer of intelligent robots for the workplace, to develop telepresence solutions for the inpatient intensive care market, including the development of a VSEE -powered Ava robot that allows providers to extend their reach and provide personalized care remotely. Launch of AI-Powered Telehealth to Reduce Maternal Deaths in Remote Philippines On May 16th VSEE announced the launch of Project MAMA (Mom's AI for Maternity Aid), an innovative telehealth initiative to reduce high maternal mortality rates in rural, isolated Philippines communities of Zamboanga Sibugay. Working with maternal care physicians and specialists from Stanford University and Ateneo de Zamboanga University, VSEE technology bridges the gap in prenatal care access, enabling women in underserved areas to receive remote OB-GYN consultations via its comprehensive telehealth platform. The solution features AI chatbots responding in local languages, portable diagnostic devices (e.g. ultrasounds) and electronic health records (EHRs) — all operational within four days of deployment. The pilot program represents a VSEE broader vision of bringing accessible healthcare to underserved populations worldwide through adaptable, AI-enhanced telehealth solutions. Advanced Telenursing Robotics Solution Targeting 3-5% Reduction in Hospital Nursing Costs On April 16th VSEE announced completing development of its Telenursing Robotics solution—an AI-driven platform designed to automate routine nursing tasks and reduce labor costs. With nursing expenses representing approximately 60% of hospital operating budgets, this innovation directly targets one of the most pressing cost challenges in healthcare. Initial modeling suggests hospitals deploying the VSEE solution could reduce nursing-related expenses by 3–5%, while also enhancing patient throughput and experience. VSee Health Highlights AI-Powered Telehealth On April 2nd VSEE released an update highlighting how the Company is at the forefront, pioneering AI-driven telehealth solutions that are revolutionizing patient care. An AI-Powered, Modular Approach to Telehealth VSEE offers a modular, no-code/low-code telehealth platform that allows healthcare organizations to build customized solutions tailored to their specific needs. Dubbed as "Lego-like" digital health building blocks, this flexible system enables seamless Electronic Health Record (EHR) integration, advanced data visualizations, and scalable capabilities that prepare healthcare institutions for the future. Expanding Partnerships and Strategic Growth The VSEE growing client portfolio and strategic partnerships further cement its leadership in the digital health space: Government Expansion: A $444K county government contract to provide a white-label telehealth and data analytics platform for mental and behavioral health services, signaling VSEE expansion into public sector healthcare. Major Oncology Network: A $560K contract to implement a secure telehealth platform, showcasing VSEE ability to scale within specialty healthcare. Oracle Cerner EHR Integration: A partnership with a top kidney care provider to integrate VSEE workflow into Oracle Cerner EHR, boosting telehealth call completion rates by 88%. Robotic Innovations: A $2 million contract with a leading hospital for neurocritical care expansion, leveraging autonomous robotics and an industry-disrupting telenursing model. Government Multi-Year Contract: A multi-year contract valued at $6 million in its first year, allowing VSEE to deliver rapid-configurable telehealth solutions for a national healthcare program. Strategic Collaborations for Enhanced Telehealth Adoption Beyond direct contracts, VSEE is accelerating telehealth adoption through groundbreaking partnerships: AbundaBox Collaboration: Launching AbundaLife, a health record management platform that consolidates fragmented medical records into a secure, comprehensive profile. Ava Robotics Partnership: Developing telepresence robots for inpatient intensive care, enabling remote providers to offer real-time, personalized care. LanguageLine Solutions Integration: Facilitating one-touch interpreter access in over 240 languages, ensuring seamless multilingual healthcare services. Field-Tested, Scalable, and Secure Digital Health Infrastructure With over 1.5 million HIPAA-compliant video encounters per month, VSEE delivers turnkey telehealth solutions in critical care, teleradiology, and autonomous robotics. VSEE technology enhances hospital operations by increasing billable patient visits and optimizing provider efficiency. This ability to streamline operations while ensuring high-quality patient care positions VSEE as a foundational infrastructure provider in digital healthcare. Outlook Following Nasdaq Listing Since listing on Nasdaq in mid-2024, VSEE has expanded its market presence while navigating short-seller activity, a common occurrence among companies following SPAC mergers. The company reports a growing portfolio of contracts and continues to develop its AI-driven product offerings, with further updates expected in 2025. For more information on $VSEE visit: Disclosure listed on the CorporateAds website Media Contact Company Name: Vsee Health, Inc. Contact Person: Anne Chang Email: Send Email Phone: 626-513-1824 Address: One Gateway Center Suite 507 300 Washington St. City: Newton State: Massachusetts Country: United States Website:
