Largest Telehealth Player Now Serves More than 15 Million Covered Lives
Boston, Mass., (October 8, 2014) – Today, national telehealth leader American Well® announced the expansion of its executive management team to support the company’s rapid growth. Mobile industry veteran Mike Putnam joins American Well in the role of senior vice president of consumer markets. Formerly at TripAdvisor and Rue La La, Putnam helped acquire millions of new customers through his leadership. Also joining American Well is Steve Aylward as senior vice president of sales. Aylward previously led Microsoft Corporation’s Health and Life Science solutions, where he was responsible for sales, strategic relationships, and solution development for health systems, health plans, and the life sciences industry across the United States.
New hires, internal growth and an expanding client portfolio at American Well reflect a much larger trend in healthcare. The industry has begun to see telehealth as the answer to managing healthcare costs and, as a result, market demand is skyrocketing. According to global professional services firm Towers Watson, in 2015 the number of U.S. employers offering telemedicine as a benefit will increase by 68 percent, leading to a potential savings of more than $6 billion a year in healthcare costs for U.S. companies.
“Telehealth is one of the most practical solutions for managing costs,” said Roy Schoenberg, MD, CEO of American Well. “By giving consumers the option to see a doctor over video for acute care, we are replacing higher cost settings such as the emergency room or urgent care clinics. Each telehealth visit saves employers an average of $140.”
American Well has seen this upward curve reflected in its own business The company has more than tripled the number of covered lives to over 15 million through its health plan, delivery system, and employer clients, making American Well the largest provider of telehealth services in the marketplace. Beyond executive leadership, the company has added talent throughout the organization — expanding its staff by more than 35 percent to date in 2014.
“We will continue to grow to meet market demand,” continued Schoenberg. “With all eyes on telehealth, it’s onwards and upwards from here!”