BetterHelp Pays $7.8M in FTC Settlement, Agrees to Stop Sharing Patient Data for Advertising

The Federal Trade Commission announced Thursday that it intends to ban BetterHelp from data sharing for advertising purposes. The regulatory body further calls BetterHelp to pay $7.8 million to consumers as a part of a settlement over allegations it shared sensitive health information with third parties such as social media platforms and digital advertisers. The […]

Teladoc’s BetterHelp Comes Back Down to Earth After Years of ‘Hyper-Growth’

After two years of “hyper-growth,” Teladoc (NYSE: TDOC) expects gains in its B2C behavioral health product, BetterHelp, to slow. In Q4, BetterHelp revenue grew by 29% year over year, raking in $277 million. Overall, that made up, more than 40% of Teladoc’s consolidated revenue of $638 million. BetterHelp business had an adjusted EBITDA of $53 […]

BetterHelp Rakes in $1B in 2022, as Teladoc Plans to Integrate Behavioral Health into Its Chronic Care Strategy

Despite a somewhat rocky 2022, Teladoc Health Inc.’s (NYSE: TDOC) direct-to-consumer behavioral health subsidiary, BetterHelp, raked in over $1 billion in revenue. That’s a $300 million increase from 2021, according to company leadership. More than 1 million people received therapy from BetterHelp in 2022, Teladoc CEO Jason Gorevic revealed at the JP Morgan Healthcare conference […]

Top 10 Behavioral Health Stories of 2022: How ABA Layoffs, Value-Based Care and Dealmaking Defined the Year

The year 2022 saw several growing pains and tough lessons in the behavioral health industry. Two years after the onset of a world-altering pandemic, the behavioral health industry saw adjustments and reactions to a lot of new developments. The industry did so while grappling with several of its chronic headaches such as workforce shortages and […]

What Traditional Behavioral Health Operators Can Teach Startups About Curbing Customer Acquisition Costs

A lot is riding on whether or not digital behavioral health operators will be able to solve the challenge of high customer acquisition costs. Last year, investors poured $5.5 billion of capital into digital operators’ coffers.  Yet high customer acquisition costs remain a largely unresolved concern that could limit digital behavioral health’s promise of speeding […]

Teladoc’s BetterHelp Sees Active User Rate, App Downloads Skyrocket

Despite Teladoc’s (NYSE: TDOC) rocky earnings reports, its mental health subsidiary BetterHelp has seen its number of active users skyrocket this year. In March of 2022, BetterHelp had just under 200,000 active users; that number has risen to nearly 350,000, according to a chart from investment research firm Hedgeye. The number of downloads has also […]

Lackluster Advertising Results from BetterHelp Dampen Teladoc’s Business Outlook

Teladoc (NYSE: TDOC) is blaming its disappointing financial results, in part, on BetterHelp’s advertising cost associated with customer acquisition. Despite the advertising woes, the company reported that its digital mental health subsidiary BetterHelp’s revenue grew by 40% year over year during 2022’s second quarter. That performance came in at the low end of Teladoc’s expectations. […]

Senators Take Aim at Talkspace, BetterHelp’s Privacy Policies

Key U.S. Senators want to dig into how digital mental health apps operate with Big Tech counterparts and have picked Talkspace Inc. (Nasdaq: TALK) and Teladoc Health Inc. (NYSE: TDOC)’s BetterHelp as case studies. Sens. Elizabeth Warren (D-MA), Cory Booker (D-NJ), and Ron Wyden (D-OR) sent letters to the two companies asking for information about […]

LifeStance CEO Doubles Down on Its ‘Sustainable Competitive Advantage’

LifeStance Health Group Inc.’s management has made it clear that it is not subject to the same sustainability woes as competitors in the telehealth-only or digital mental health space.  Michael Lester, LifeStance Health CEO and co-founder, went even further, saying on the May 9 first-quarter earnings call the company has several advantages over the competition […]

Amwell’s Big Ambitions for the $29 Billion Behavioral Health Market and International Expansion

American Well Corp. hopes to use a telehealth acquisition it made in 2021 to help it capture a slice of an estimated $52 billion annual opportunity in behavioral health. Better known as Amwell (NYSE: AMWL), the Boston-based telehealth and tech company points to its acquisition of SilverCloud Health as a critical part of its growth […]