Digital Health is on the rise...

In this edition of Bullfinder AI Insights, we take a look at the latest developments in the Digital Health Market, including Telemedicine & Digital Health ETF, EDOC.

Since our last e-Health update on November 9th, EDOC has increased from $9.95 to $10.48, up approximately +5.3%

Bullfinder AI Re-Rating to Bullish…

After suffering from a Bearish rating and continued downside over the past two years, EDOC has now been officially re-rated by our Bullfinder AI Tech as ‘Bullish’ continuation potential.

This is big news, as price moved to a new 52-week high at $10.48 during the final week of November.

The current momentum reading for EDOC is now ‘bullish’, however the team would like to note $9.80 as a key price point, beneath which, bearish (downside) continuation potential may lie.

Artificial Intelligence outperforming Doctors…

Digital Health is on the rise, with artificial intelligence playing a key role in the development of industry wide efficiencies.

According to a recent study by Dr Adam Rodman, Doctors that had access to chatGPT to assist in their diagnosis of patients, outperformed doctors who didn’t utilise the tool (76% to 74% respectively).

The chatbot alone however scored an average of 90 percent accuracy when diagnosing a medical condition from a case report.

This warrants the question - Will AI become the standard in medical diagnosis?

There are many components that may make this difficult to implement in reality, including access to accurate and sufficiently elaborate patient condition descriptions, legalities of mis-diagnosis and patient treatment preferences.

If however electronic medical devices continue to become more and more prevalent and powerful in their suite of medical data collection, then AI interpretation of such data may not be such a far-fetched reality.

Will AI replace Doctors?

No, AI will not completely replace doctors, whether that’s at hospitals or in-clinic.

But Artificial intelligence could contribute significantly to the medical field by creating a plethora of efficiencies, freeing up doctors to engage in higher priority action.

Everywhere you look, Doctors are in high demand and short in supply…So why not offload some of their less important tasks, and non-crucial patient interactions to a competent AI agent?

It’s estimated that at least 60% of patients seen by local General Practitioner’s could receive the same, if not better medical advice and treatment from a trained AI chatbot, with near instant results, and from the comfort of their own home.

What is your preference?

The advancements and prevalence of AI technologies across the entire medical landscape will only continue to progress over the coming years, increasing efficiencies and enhancing quality of patient outcomes.

This is an exciting time to be alive and presents many potential investment opportunities.

Let’s go through a few now…

Other Companies within this space…

Within an ETF you get exposure to many individual companies that operate within a certain Industry - The Telemedicine & Digital Health ETF (EDOC) for example, currently contains 40 individual stocks.

These stocks either entirely operate within the e-med space, or, do so partially, via a component of their operations.

If seeking exposure to this market segment, it is important to note that although ETFs are not without risk, it is a riskier and more aggressive approach to select individual stocks.

Interested in learning more about individual companies within this space?
We’ve listed some examples below…

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