MediXall Group Sets Its Strategy Apart From the Rest of the $3.8 Trillion US Healthcare Market

Rhea-AI Summary

MediXall Group (OTCQB:MDXL) is positioning itself in the $3.8 trillion US healthcare market with a focus on both telemedicine and in-person solutions. Their subsidiary, Health Karma, offers an online tool to help consumers navigate healthcare costs. With a projected global telemedicine market of USD $298.9 billion by 2028, MediXall aims to capitalize on this growth. They emphasize the importance of simplifying the healthcare experience while recognizing that in-person care remains essential. The company plans further acquisitions to enhance its service offerings.

Positive

• MediXall's strategy targets both telemedicine and in-person care, aligning with market demands.
• Health Karma offers a unique online tool to help consumers manage healthcare costs effectively.
• The global telemedicine market is projected to reach $298.9 billion by 2028, providing a significant growth opportunity for MediXall.
• The emergence of large competitors validates MediXall's Health Karma offerings.

Negative

• The healthcare sector's complexity may hinder consumer adoption despite MediXall's efforts.
• MediXall acknowledges challenges in raising capital and achieving profitability, as noted in their forward-looking statements.

Companies race to telemedicine; MediXall establishes foothold in virtual and in-person solutions

FORT LAUDERDALE, FL / ACCESSWIRE / April 5, 2021 / MediXall Group, Inc. (OTCQB:MDXL), an innovative healthcare solutions provider, highlighted today how its business strategy differs from others now trying to capitalize on the $3.8 trillion US healthcare market and the telemedicine boom.

Healthcare is one of the largest and fastest growing industries in the world. It is also one of the most complex. When MediXall Group launched its mission was quite simple, make it easier. Stated Neil Swartz, CEO of MediXall Group, "Everyone around the table from consumers, to employers, providers and even our own government has struggled with understanding and explaining the complexities of our healthcare system. We see MediXall as a highway for the consumer healthcare journey. Our goal is to provide innovative solutions to reduce costs that fit our overall mission of simplifying the consumer experience."

MediXall's wholly owned subsidiary, Health Karma, built the company's first solution to the market. Health Karma is an online tool that helps consumers reduce healthcare costs and understand the complex world of health and wellness. Since the outbreak of the COVID-19 pandemic in the US, telehealth has emerged as a major tool to fight and contain the virus and ease the burden on traditional healthcare systems. Last year Health Karma introduced the Health Karma for Employer program including Virtual Primary Care to address employer needs to cut healthcare expenses and provide safe affordable and accessible healthcare for all. According to a national survey conducted by Lake Research Partners for SBM and Families USA, many businesses have had to slash benefits during the pandemic. One in three small business owners say they see healthcare as a top priority and one in five say they plan to change or lower benefits in the next few months.

"With the surge of big companies entering telehealth with the COVID-19 outbreak and the recent announcement of Amazon Care for Employers, we have had several shareholder inquiries about differentiators for Health Karma. In truth, we see this as a positive for our Health Karma for Employers product as it validates our virtual primary care offering and provides us with the opportunity to highlight our full suite of employee benefits. The fact is that we are even more than a telehealth solution and as consumers begin reentering in-person care, the Health Karma platform will guide them through the process of finding providers, analyzing costs and will also serve as a conduit for receiving prescription discounts," stated Michael Swartz, President of Health Karma, Inc.

According to a new report by Grand View Research, the global telemedicine market size is expected to reach USD $298.9 billion by 2028. The market is expected to expand at a CAGR of 22.4% from 2021 to 2028. MediXall plans to capitalize on the boom of the telemedicine market and the need for advanced technology to support recent consumer adoption, but also recognizes that in-person care is not just a thing of the past. As it pursues additional acquisitions in the healthcare sector, it will identify offerings to enhance its foothold in virtual and in-person care while keeping its core mission intact.

About MediXall Group, Inc.
MediXall Group, Inc. (OTCQB:MDXL) is a technology and innovation-driven organization purposefully designed and structured around delivering products and services to make it easier for consumers to learn, decide and pay for healthcare. The mission of MediXall Group is to revolutionize the healthcare industry by improving communication; providing better technology and support services; and enabling more efficient, cost-effective healthcare for the consumer. By approaching the entire healthcare ecosystem, MediXall creates, invests and incubates companies that embody its mission statement. For more information, please visit www.medixallgroup.com or call 954-908-3481.

About Health Karma, Inc.

Health Karma, a wholly owned subsidiary of MediXall Group, is a data-driven healthcare technology company that is on a mission to continually raise the bar of the healthcare experience by empowering people to understand and manage their entire health care journey anywhere, anytime, whether they have insurance or not. For more information, please visit www.gethealthkarma.com.

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. Specifically, the company's ability to raise additional capital, execute its business plan and strategy, sustain or increase gross margins, achieve profitability and build shareholder value are forward-looking statements. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Investor Relations
(954) 908-3481

SOURCE: MediXall Group, Inc.

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https://www.accesswire.com/638900/MediXall-Group-Sets-Its-Strategy-Apart-From-the-Rest-of-the-38-Trillion-US-Healthcare-Market

FAQ

What is MediXall Group's strategy in the healthcare market?

MediXall Group focuses on both telemedicine and in-person healthcare solutions, aiming to simplify the consumer healthcare experience.

How is Health Karma contributing to MediXall's business model?

Health Karma provides an online tool that helps consumers understand and reduce healthcare costs, enhancing MediXall's overall offerings.

What is the expected growth of the global telemedicine market?

The global telemedicine market is projected to reach USD $298.9 billion by 2028, growing at a CAGR of 22.4%.

What challenges does MediXall face according to its press release?

MediXall faces challenges in raising additional capital and achieving profitability, which are mentioned in their forward-looking statements.