Why Doctor Care Anywhere (ASX:DOC) is soaring 12% today

The telehealth company has announced a new series of remote appointment options.

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The Doctor Care Anywhere Group PLC (ASX: DOC) share price has leapt today after the company announced a new offering to patients.

The telehealth company has introduced a new operating model, moving from the single option of a 20-minute virtual consultation with a doctor to multiple options for treatment advice. 

At time of writing, the Doctor Care Anywhere share price is up 12%, trading at 46.5 cents apiece. 

New Telehealth options in place for patients

With COVID-19 spearheading the uptake of remote appointments, the Federal Health Department this week announced a $308.6 million injection into the primary care health system. This includes a $106 million portion for permanent Telehealth for Australians.

The announcement times well for Doctor Care Anywhere, with its new model including options such as shorter appointments, meeting with a nurse, or completing a QuickConsult survey to be reviewed and returned with written advice or a prescription. 

The company said this model would assist in "the challenge of clinical workforce shortages and ever-increasing healthcare demand". 

In addition, the telehealth company announced that its current agreement held with AXA Health would now vary to allow nurses to "make decisions in the assessment, diagnosis, and treatment of patients and to prescribe medication".

Doctor Care Anywhere share price snapshot

The Doctor Care Anywhere share price has fallen 61.67% since the company listed on the ASX in December last year. The company saw a high volume of trading on Monday following the government's healthcare investment.

Based on the current share price, the telehealth company has a market capitalisation of around $89 million.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended Doctor Care Anywhere Group PLC. The Motley Fool Australia has recommended Doctor Care Anywhere Group PLC. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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