While private equity investors continue to look for new opportunities in behavioral health, there is one area that is still relatively uncharted: serious mental illness (SMI) care. Caring for the SMI population can be very challenging and requires a multipronged approach, as well as a robust patient engagement plan. Due to these challenges, SMI care […]
2023 has been a tumultuous year for the behavioral health space. Macroeconomic headwinds, including rising interest rates plus unrest in Eastern Europe and the Middle East, has slowed dealmaking. Additionally, many providers have struggled to raise more capital as investors tighten their purse strings. At least two major companies in behavioral health care have filed […]
Samir Malik, the CEO of firsthand, and Marie Hannah, a recovery peer for the company based in Nashville, know that those in the greatest need of behavioral health treatment are often the hardest to reach. The New York City-based startup uses a field-work-heavy approach to peer support work as part of a value-based care partnership […]
The 1st episode of the Behavioral Health Business Perspectives podcast is now available! For this episode of BHB Perspectives, we caught up with Samir Malik, the CEO of firsthand, and Marie Hannah, one of the company’s peers. During the conversation, Malik and Hannah discussed the value of peer-support models, firsthand’s momentum and more. Listen to […]
Years into a national behavioral health workforce shortage, many provider organizations are now seeking to leverage peer specialists. Advocates argue that peers could be a crucial part of expanding behavioral health access and supporting patients holistically in their recovery. Yet reimbursement challenges and varying state licensure requirements have historically created barriers for providers utilizing the […]
With macroeconomic headwinds leading to declining valuations and less M&A activity, the mental health space is at a crossroads. The notoriously fragmented industry is still prime for maturation, but many companies are facing growing pains. Several companies that came onto the public market during the 2021 boom year are struggling to keep up with investor […]
It’s no secret that patients with serious mental illnesses (SMIs) are costly to care for and have significantly worse outcomes than their peers. But value-based care models could enable providers to get creative in caring for these patients, leading to better outcomes and lower costs. Specifically, the value-focused model could allow providers to use wrap-around […]
GV, previously Google Ventures, has invested $28.1 million in serious mental illness-focused startup firsthand. New York-based firsthand is trying to forge trust with patients with serious mental illness (SMI) while boosting the population’s engagement with the health care system and community resources. According to the CDC, only 64.5% of adults with SMI received mental health […]
Reaching patients with serious mental illness (SMI) has traditionally been a challenge for the medical community. In fact, only 64.5% of patients with SMI received mental health treatment in the past year, according to the National Institute of Mental Health (NIMH). One of the biggest hurdles for the medical community at large is gaining the […]
Serious mental illnesses (SMIs) are extremely costly and can lead to negative health outcomes, a fact that makes this corner of the behavioral health world ripe for innovation. Specializing in SMI treatment, however, comes with a number of high-stakes challenges. SMIs – conditions such as schizophrenia, severe bipolar disorder and major depression – impact roughly […]
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