What they say : Navigating through factors such as regulations and insurance contracts is less well understood on the Medicaid side as startups are poised to forge ahead quickly, Lindow says.
Some exceptions include Eleanor Health and Bicycle Health, both of which focus on addiction treatment and accept some Medicaid.This camp includes top flight pilots like Lyra Health, Spring Health, Modern Health, Headspace Health, and Hinge Health.State of play: Investors have poured capital into virtual behavioral health over the past couple of years, but most startups have models aimed at employers. So far this year, 23,000 people have been referred to Brave Health.“Caregiving is necessary, but not sufficient.”īy the numbers: Brave Health serves over 65 million covered people in 18 states, in partnership with over 200 health plans. “When someone is considering getting mental health support, you may only have a window of time where that trust is there,” Lindow says.
How it works: In partnership with health plans and hospitals, Miami’s Brave Health offers telehealth counseling, therapy, psychiatry, and medication management, with a focus on the population with serious mental illnesses. “There’s a huge societal need, but there’s also a real business need for health plans,” Lindow said.Meanwhileinsurers are eager to deal with rising medical costs associated with behavioral and mental health issues, much of which falls on Medicaid plans. “I don’t think that number is going to start going the other way in the short term, so the question becomes ‘what can we do to get different results?'” CEO Anna Lindow said.1 in 4 Americans are covered by Medicaid, while only 35% of psychiatrists accept Medicaid – a huge access problem that is only exacerbated by COVID.Why is this important: The prevalence of mental illness and substance use disorders is highest among non-elderly adults on Medicaid, but few startups are tackling this issue for this low-income population that needs it most. Brave Health, a virtual care startup dedicated to mental health care for Medicaid members, raised $40 million in Series C funding led by Town Hall Ventures, the parties say Axios exclusively.
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