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Teladoc went public in 2015. Photo: MayApps207 / Wikimedia Creative Commons

Teladoc, a company that connects patients with doctors via video and phone, recently disclosed it has serious accounting problems tied to "stock-based compensation." Teladoc directed Axios to an investor relations firm after repeated inquiries, and the outside firm has not responded.

Why it matters: The health care industry views virtual care as an important way to treat common ailments in lower-cost settings. But Teladoc is the largest telemedicine company; its new blunders, on top of a long track record of losses, don't inspire confidence.

Key quote: "Management identified a material weakness relating to the accounting for certain fourth-quarter 2017 awards of stock-based compensation with unique or different terms than the company's standard stock awards," according to Teladoc's annual filing.

  • Executives did not address the accounting problems on the company's investor call.
  • Teladoc spent almost $31 million on stock-based pay in 2017.
  • Accounting employees will undergo "renewed training" on how to book stock awards, and the company has made other vague changes to its financial reporting, per the filing.
  • Teladoc hopes the problems will be fixed by the end of March, but there's no guarantee the company will avoid having to restate its finances.

The bottom line: Teladoc has lost $239 million since 2015, the year it went public.

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20 mins ago - Politics & Policy

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Joe Biden. Photo: Chip Somodevilla / Getty Images

President-elect Joe Biden promised to invoke the Defense Production Act to increase vaccine manufacturing, as he outlined a five-point plan to administer 100 million COVID-19 vaccinations in the first months of his presidency.

Why it matters: With the Center for Disease Control and Prevention warning of a more contagious variant of the coronavirus, Biden is trying to establish how he’ll approach the pandemic differently than President Trump.

A new Washington

Photo: Stefani Reynolds/Getty Image

D.C. Mayor Muriel Bowser said Friday that the city should expect a "new normal" for security — even after President-elect Biden's inauguration.

The state of play: Inaugurations are usually a point of celebration in D.C., but over 20,000 troops are now patrolling Washington streets in an unprecedented preparation for Biden's swearing-in on Jan. 20.

Mike Pence calls Kamala Harris to offer congratulations and help

Mike Pence. Photo: Chip Somodevilla via Getty

Vice President Mike Pence called Vice President-elect Kamala Harris on Thursday to congratulate her and offer assistance in the transition, the New York Times first reported.

Why it matters: The belated conversation came six days before the inauguration after a contentious post-election stretch. President Trump has neither spoken with President-elect Joe Biden, nor explicitly conceded the 2020 election.