| Direct-to-consumer (D2C) telehealth firm Hims & Hers' revenues grew 83% YoY from 2020 to 2021, and the platform received 2.4 million virtual visits in 2021—up from 1.6 million in 2020, according to a Q4 2021 earnings report released on the company's website.
This boost in growth comes from a slew of 2021 marketing initiatives, including increasing its marketing investment in Q3 and Q4 to boost customer acquisition, partnering with well-known retailers such as Amazon and Revolve to scale its online and in-person sales, and shifting its pharmacy fulfillment services in-house to offer consumers more affordable, subscription-based healthcare.
"D2C healthcare companies are on a growth tear—Hims & Hers is just one of the most notable key players," said Rhea Patel, analyst at Insider Intelligence. While widespread marketing may continue to boost growth for the D2C healthcare segment, "D2C companies may have to deal with high customer acquisition costs compared with traditional providers who already have built-in channels (insurance) sending patients their way," added Patel. | |
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