Elevance Health Inc. (NYSE: ELV) is placing a “large focus” on its behavioral health business, inking two massive state contracts worth up to $740 million in Q1 of 2024. Carelon, Elevance’s health care services arm, is off to a “strong start” this year, buoyed by major behavioral health contracts with the states of Maryland and […]
Category: Outpatient
Palliative approaches to psychiatric care may be happening informally nationwide and beyond, despite not being an officially recognized specialty. Palliative care prioritizes alleviating suffering rather than improving a psychiatric condition. Familiarizing behavioral health clinicians with the concept of “palliative psychiatry” and its focus on improving the quality of life for those with severe, treatment-resistant conditions […]
The San Francisco-based hybrid mental health startup Two Chairs has raised $72 million in a Series C equity and debt funding round. Led by the firm Amplo, the funding round also included Fifth Down Capital and other unspecified investors. Other investors that participated in the previous funding round included Goldcrest and Maveron. In total, the […]
Optum-owned Refresh Mental Health has acquired fast-growing outpatient mental health provider CARE Counseling, according to several sources close to the matter. The deal marks the second Optum-affiliated outpatient mental health acquisition in the last few years. In 2022, Optum acquired what was ostensibly the second-largest outpatient mental health company: Jacksonville Beach, Florida-based Refresh Mental Health. […]
The days of behavioral health operators providing a single service may be numbered. Today, many payers and patients prioritize providers with a full continuum of care that can meet various needs. Making a behavioral health provider a one-stop shop can mean providing patients with a comprehensive range of care options to access higher and lower […]
Mental health tech startup Grow Therapy has raised $88 million in Series C, bringing its total raise to over $178 million. The New York City-based company will use the new funds to develop a system for measurement-informed care delivery and enhance its value-based care reporting. “We are committed to not only improving access but also […]
The financial stability of private therapy practices is increasingly precarious, with the majority of therapists reporting anxiety over the current economic climate. Almost 85% of private practice therapists are concerned about the economy impacting their practice in 2024, according to a survey conducted by mental health-focused accounting startup Heard. Despite these concerns, most therapists said […]
Payers and providers are increasingly pushing for more measurement-based care in behavioral health. However, in order for the change to work, key stakeholders, including clinicians and other behavioral health providers, need to buy in. This puts the onus on operators to make it easier for clinicians to implement measurement-based care, and for payers to foster […]
Universal Health Services (NYSE: UHS) intends to challenge a recent verdict that would require the company to pay $535 million in damages related to a sexual assault suit. Pavilion Behavioral Health System, a subsidiary of UHS, denied any liability in a case that alleged that an underage patient was sexually assaulted by another underage patient […]
Lawmakers introduced a bill to help schools apply for grants from the huge pot of money Congress had previously set aside for school mental health resources. Introduced on March 21, the Creating Access and Resources in Education (CARE) for Student Mental Health Act aims to boost the number of qualified entities that could apply for […]
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