As the spread of the Delta coronavirus variant is leading to rising COVID-19 cases, the telehealth industry is expected to keep growing. Thus, it could be wise to bet on fundamentally sound telehealth stocks NextGen Healthcare (NASDAQ:NXGN) and Computer Programs and Systems (NASDAQ:CPSI).Even though the COVID-19 pandemic wreaked havoc across several sectors, the telehealth industry significantly benefited from the increasing demand for remote care. As the continued spread of the Delta coronavirus variant is leading to a resurgence of COVID-19 cases, the industry could continue to witness increasing demand in the upcoming months.
According to a Fortune Business Insights report, the global telehealth market grew 135.2% in 2020, and it is expected to reach $636.38 billion by 2028. Moreover, the Biden-Harris Administration invested more than $19 million in August 2021 to expand telehealth nationwide and improve health services in rural areas.
Against this backdrop, it could be wise to bet on quality telehealth stocks NextGen Healthcare, Inc. (NXGN) and Computer Programs and Systems, Inc. (CPSI). They are expected to benefit from the anticipated increase in demand for their services in the upcoming months.