![]() ![]() “By bringing in other kinds of resources, such as behavior health coaches to handle most of the population, they use technology, like chat, and are also able to measure and make personalized decisions so outcomes are better,” Glass said. In response, Ginger’s approach combines other treatment options to free up licensed therapists for more advanced patient needs. Provider shortage is due to a combination of factors, such as behavioral therapy being an underpaid field compared to other medical fields, said Russell Glass, CEO of San Francisco-based Ginger, an on-demand mental health company providing around-the-clock access to emotional support via coaching, therapy and psychiatry. “The level of reporting makes that job almost impossible.” “Seventy-five percent of primary care physicians will accept insurance, but only 20 percent of psychotherapists do,” he added. Mental health providers don’t always accept insurance as payment due to the complexity in reporting, though there are startups developing tools and resources to address the back-office work, Frank said. In addition, if someone doesn’t have money to pay outside of insurance, it is a huge barrier to seeking care, Nguyen said. Even if the provider is in-network with insurance, billing could be incorrect and there may not be enough providers to fill networks. ![]() Navigating the health system is historically complicated. When that happens, the opportunity for business growth is going to follow.” “As a mental health advocate, it feels like mental health was an afterthought for many centuries and is finally catching wind as we recognize how important it is to pay attention to mental health,” said Theresa Nguyen, chief program officer of Mental Health America, an Alexandria, Virginia-based nonprofit promoting mental health as part of overall wellbeing.Īs it relates to startups focused on mental health, she said, “We are helping people talk about mental health with more freedom and less fear. health system fails to provide adequate access to care and continuity that would result in positive clinical outcomes You don’t need an X-ray, blood test or for a doctor to feel your arm - it is essentially conversation and a far better fit.” Forgotten health careĮxperts say the U.S. “There became a driving recognition during this time that behavioral health was a good fit for virtual care. ![]() “Today, we see the sour fruits of COVID because though behavioral health issues were prominent before COVID, the pandemic drove it to such a level of anxiety, depression, financial hardships, etc., that it became impossible to ignore,” Oren Frank, co-founder and CEO of online mental health services company Talkspace, told Crunchbase News. Still, as more startups meet the demand for care, they are battling stigmas around mental illness, a shortage of therapists and the knowledge that poor mental wellbeing is likely to persist this year as the pandemic continues to isolate us all. We are founders ourselves investing in founders.Access to mental health treatment is getting easier, and oddly enough, we have the global pandemic to thank for that.ĭespite improvements to mental health access, the society-altering effects of the COVID-19 response have wreaked havoc on our psychological wellness: Research shows 80 percent of young Americans report depressive feelings of loneliness as a result of the global pandemic. We invest in great founders from around the world regardless of stage or revenue. ![]()
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