Digital health's investment slowdown is so severe that the fourth quarter of 2022 marked the lowest quarterly digital health funding total in the past five years, according to new report. Q4 was also the first quarter with no new unicorn births since 2018.
The financing round was led by Heritage Group, and included participation from the investment arms of insurers, like Cigna Ventures and Trinnovate Ventures of Blue Cross Blue Shield Arizona. It brings Valera's total financing amount to about $70 million.
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Valera Health provides teletherapy services for mental health, ranging from mild to serious conditions. The company recently raised $15 million in funding led by Windham Venture Partners.
Montefiore in New York is equipping primary care patients with Valera's behavioral health app, while Cherokee Health Systems in Tennessee utilizes an integrated care model that involves a behavioral health consultant and a primary care doctor working on the same team.
Participants in the Boston, Massachusetts-based program will take part in a six-month curriculum that partners the companies with larger Champion organizations that support the startups with product pilots, research assistance and potential investments
Valera Health CEO and cofounder Thomas Tsang said the Group Health deal is part of the company's plan to make a greater push for payers to adopt its program this year. It also secured a Series A round with funding from Trinnovate Ventures, a subsidiary of Blue Cross Blue Shield of Arizona.
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
The data from the study were particularly interesting because it shows that the push for greater utilization of digital tools in the behavioral health space is yielding positive results with clinical validation.
Valera Health CEO Thomas Tsang said patients would be interviewed once they've been discharged after what would typically be a three month stay in the hospital.
Valera Health is designed to be an end-to-end solution and takes a multifaceted approach that includes patient assessments, data analytics and remote patient monitoring.