Virtual healthcare company Teladoc Health (TDOC -2.67%) thrived in 2020 when telehealth medical appointments were the sole option available to patients during the lockdown.

Teladoc, like every other growth stock that has been hammered this year, has had to bear the brunt of it. Investors are concerned that Teladoc's business will not survive in the post-pandemic market. Telehealth services will be in less demand now that hospitals and medical facilities have reopened, the reasoning goes.

But this doesn't seem to be the case looking at Teladoc's recent third-quarter results. Here's why I believe the stock has a lot of potential in the long run.

Two people on a video appointment with a healthcare professional.

Image source: Getty Images.

Teladoc reports another robust quarter

Although Teladoc's stock is down 65% year to date, the company's revenue and patient visits are increasing every quarter. Its recent quarterly results attest to its ongoing success. Third-quarter revenue rose 17% year over year to $611 million, from higher demand domestically and internationally.

While investors are concerned that patient visits will decline in this post-pandemic market, total visits increased 14% to 4.5 million in the third quarter. Total visits increased to 14 million in the nine months that ended Sept. 30, up from 7.6 million during the same period in 2020.

The company is also making strides toward profitability. Its net loss fell to $73 million from $84 million in the year-ago quarter. It was also significantly better than the huge net loss in the previous quarter from impairment charges.

Management anticipates fourth-quarter revenue in the $625 million to $640 million range, with total visits in the 4.7 million to 4.9 million range. The company projects 2022 as another strong year with a revenue jump of 18% and a surge in total visits of around 19 million, versus 15.4 million in 2021.

Telehealth services won't go out of demand

Various patient surveys indicate that telehealth services make medical consultations more satisfactory and less stressful for patients, saving them both time and money. According to MarketsandMarkets, the global telehealth and telemedicine market will expand at a compound annual rate of 26% to be worth $285 billion by 2027. This is why I believe Teladoc will not only survive but could also thrive in a post-pandemic market.

Is it worth the risk?

Growth stocks like Teladoc are good for investors with a strong risk appetite. Healthcare stocks are bound to experience the highs and lows of the industry. Although it might appear that telehealth services will no longer be required as the pandemic wanes, this may not be the case. 

Due to the ease and comfort patients experience with these consultations, demand could increase further. With its revenue and total visits surging, Teladoc's business could flourish in the coming years. For investors with a long investment horizon, now could be a good time to buy and hold the stock.