Medicare Telehealth Visits for Behavioral Health Up Over 3,000% says HHS

The number of telebehavioral health visits provided to Medicare beneficiaries increased by 32x — or by 3,090% — in 2020 compared to 2019. That’s according to a new report released by the U.S. Health and Human Services’ (HHS) Office of the Assistant Secretary for Planning and Evaluation (ASPE). The report analyzed claims data from the […]

Quartet Health Lands New $60M of Funding, Plans to be in 30 States by End of 2022

Quartet Health Inc. raised $60 million in a funding round that was led by the Philadelphia-based insurance company Independence Health Group. The New York City-based behavioral health technology company announced Thursday that existing investors GV and Oak HC/FT also joined the round, which brings the total amount raised to $222 million since 2014. The new […]

Pipeline: Spero Health and Landmark Open New Clinics; Caravel’s Latest Facility

Spero Health opens new addiction treatment clinic Spero Health is welcoming patients to its newest treatment clinic for substance use disorder (SUD), which has opened in Columbus, Ohio. The clinic is located east of I-270 in the Georgian Heights neighborhood and offers a combination of in-person and telehealth services. Ohio Medicaid and most commercial insurances […]

Groups Recover Together Appoints COO, Chief Expansion Officer As It Ramps Up Growth

Groups Recover Together, which is in the midst of an ambitious nationwide expansion, is supporting those efforts with the addition of two new members to its C-suite. The Burlington, Massachusetts-based provider — known also as “Groups,” and which treats 9,000 members across 13 states for opioid use disorder (OUD) — has appointed Matt Levesque to […]

Talkspace Fails to Grow B2C Business to Reach Expectations; Parts Ways With Founders, CEO

Talkspace Inc. revealed that it’s in recovery mode following poor financial performance in the third quarter and the announcement that its co-founders and CEO are no longer leading the company. On Monday, the company said in press releases and through its earnings conference call with management that Co-founders Oren and Roni Frank decided to leave […]

CloudMD to Acquire MindBeacon for $116M

Two Canadian behavioral health providers are now under one roof, as CloudMD Software Services Inc. has entered into an agreement to purchase MindBeacon Holdings Inc. for $116 million in cash and stock.  The deal was jointly announced by both companies on Monday. Based in Vancouver, CloudMD is a behavioral health management and care platform that […]

The Place, Oasis Fill Chief Roles; Leo Brown Group Hires New VP

The Place for Children with Autism names new chief financial officer The Place for Children with Autism, a Chicago-based provider of applied behavior therapy (ABA), has named Kristin Schultz as its chief financial officer. Schultz arrives at The Place from R1 RCM, where she was the senior director of corporate accounting for the Utah-based health […]

Headspace Health CEO Talks the Future, More Acquisitions, and IPO Possibility

For Russ Glass, CEO of the newly formed Headspace Health, scaling up the business he leads comes with a strategic and moral imperative — the question now is how and where Headspace Health should make its moves. Glass formerly led San Francisco-based on-demand virtual behavioral health Inc. which merged with Santa Monica, California-based Headspace […]

Wayspring CEO: Value-Based Care Models are Perfect Fit to Serve Substance Use Disorder Populations

The trend to value-based care in the behavioral health market continues to evolve. In late September, Wayspring announced it raised $75 million to target individuals struggling with substance use disorder (SUD). The market is ripe for innovation, as more than $90 billion is spent annually on the SUD population by Medicaid and Medicare Advantage managed […]