AI amplifies telehealth infrastructure moat
Diving deeper into
Johannes Schildt & Claes Ruth, CEO and CFO of Kry, on the AI future of telehealth
That complexity is a big part of our moat, obviously, and that makes it very tricky for someone else.
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Reviewing context
Kry’s moat is less about the video visit app and more about having rebuilt the hard plumbing of primary care country by country. The difficult part is winning reimbursement, local contracts, regulator trust, clinician supply, prescription and records integrations, and quality oversight in each market. That is why telehealth can look simple to patients while remaining unusually hard to scale across Europe.
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Kry operates as a healthcare provider, not just a software vendor. It employs and contracts clinicians, runs clinics where reimbursement requires a physical footprint, and links digital visits to labs and in person follow up. That creates a deeper operating system than a booking or video layer alone.
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The commercial model changes by country. In France, telehealth is more fee for service. In Sweden, primary care is more capitated and tied to clinic infrastructure. Scaling means relearning how money flows in every market, then stitching one product and operating stack across those local payment rules.
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That complexity has produced real concentration. Kry reached scale across Sweden, the U.K., France, Norway, and Germany, while many rivals stayed local. Even strong regional players like Doctolib, Ada Health, Babylon Health, and DocPlanner were strongest in their home markets, showing how hard cross border execution has been.
The next phase is turning this messy local infrastructure into leverage. As AI handles more intake, coding, and clinician admin, the companies with payer contracts, patient volume, and care delivery rails should widen their lead. In European telehealth, AI will matter most when it sits on top of a working reimbursement and care network.