Teladoc Health (NYSE: TDOC) is continuing to grow its virtual mental health platform, BetterHelp, by focusing on the B2B market. BetterHelp has grown from about $100 million to $1 billion in revenue in the last three years, according to Teladoc CEO Jason Gorevic at the 42nd Annual J.P. Morgan Healthcare Conference. To accelerate growth, Teladoc […]
Teladoc Health (NYSE: TDOC) is attributing its direct-to-consumer mental health business BetterHelp’s strong revenue growth to therapist productivity improvements. The efficiencies include more group therapy sessions and an emphasis on more digital interactions. “We’ve actually taken a number of initiatives to improve therapists productivity, ranging from group therapy sessions, to more digital interactions,” Mala Murthy, […]
Teladoc (NYSE: TDOC) attributed its direct-to-consumer mental health segment BetterHelp’s first-quarter revenue growth to an uptick in membership and stable customer-acquisition costs. In 2022, the telehealth provider struggled to keep up with the rising customer-acquisition costs, which were partly inflated by new digital behavioral health competitors. “Customer acquisition trends have remained stable year to date, […]
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 […]
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 […]
Telehealth giant Teladoc (NYSE: TDOC) is integrating behavioral health and primary care in its new app. The app promises to help customers navigate care across Teladoc’s spectrum of services. It’s part of the company’s push to fully integrate services and move towards holistic care. The app is being rolled out to specific clients this month […]
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 […]
BetterHelp was the biggest driver of growth for the virtual health care company Teladoc (NYSE: TDOC) in the third quarter of 2022. But the direct-to-consumer business remains vulnerable to the nation’s macroeconomic environment, according to Teladoc leadership. Unlike Teladoc’s B2B offerings, BetterHelp is more directly tied to consumers’ financial health, Teladoc CEO Jason Gorevic explained […]
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 […]
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 […]
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