Dallas-based Teladoc, the country’s largest telehealth provider, has added two industry leaders to its board: former U.S. Senator William Frist, M.D., and former Medco Health Solutions chairman and CEO David B. Snow.
“These men have successfully navigated the complexities of Wall Street and the halls of Congress,” said Jason Gorevic, Teladoc’s CEO, in a statement. Their service “will be invaluable to us as we continue our explosive growth and navigate the changing landscape of healthcare.”
A cardiothoracic transplant surgeon, Frist served on both the health and finance committees in the Senate. He said Teladoc is poised to benefit from the Affordable Care Act, as millions more Americans are now insured, taxing already stretched primary care offices. “Many of the everyday healthcare needs of patients can safely and efficiently be addressed remotely using technology,” he said. “I want to ensure our country’s legislative groups understand the benefits Teladoc can bring to the healthcare system as a whole, but most specifically, the need it fills for the patients it serves.”
Snow is a healthcare industry veteran and entrepreneur who built Medco into one of the country’s largest pharmacy benefits managers, taking it from $34 billion to more than $70 billion in revenue. He currently serves as chairman and CEO of Cedar Gate Technologies, a healthcare data analytics company. As more companies look for efficient and cost-effective ways of providing healthcare access for employees, telehealth is “critical to fixing what is broken within our healthcare system today,” he said.
Teladoc, which was formed in 2002, recently announced that it had secured $50 million in funding—one of the single largest investments for a company of its kind.