More people are turning to health solutions like Cognitive Behavioral Therapy and Internet-based Cognitive Behavioral Therapy (iCBT) to help minimize the negative mental health impact many are currently facing.
Psych Hub, a mental health education startup based in Nashville, recently raised $16 million. The startup provides specialized training for mental health professionals, as well as educational content for patients. The company will use the money it raised to establish a service that matches patients with the mental health provider that is right for them.
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A group of stakeholders recommended developing reimbursement mechanisms and standards frameworks to help improve uptake of digital mental health tools in the U.S.
The startup previously developed the Sleepio application, which is targeted at insomnia, and is offered to around 12 million users through partnerships with payers and employers like Boston Medical Center, Comcast and the NHS.
The company has signed a perpetual licencing deal for the software, curriculum and content of Lantern, which built digital therapeutics for mental health conditions before shutting down operations last year.