 |  | Telehealth company Amwell reported that its total virtual visits have declined from 1.6 million in Q1 2021 to 1.3 million in Q2 2021. And surprisingly, the company expects this drop to continue through the end of the year even as stronger mask and social distancing mandates are enforced.
What's more, Amwell's expected 2021 revenue range was adjusted down from $260-$270 million to $252-$262 million, indicating that it can't rely solely on telehealth visits. According to Rhea Patel, a research analyst at Insider Intelligence, telehealth companies like Amwell need to expand into digital health-enabling tech, like remote patient monitoring (RPM).
Amwell is taking a step in that direction. In July, the company announced that it would be doubling down on telemental health and RPM with plans to acquire digital mental health platform SilverCloud Health and virtual healthcare company Conversa Health. A push such as this suggests that health systems and hospitals may need to expand into digital health-enabling tech in order to stay competitive.
As we go through the next stage of the coronavirus pandemic, telehealth vendors will no longer be able to rely solely on their own technology to stay competitive. Instead, they will have to develop an omnichannel presence by connecting telehealth visits to other digital health solutions to meet their value proposition.
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