There may seem to be an endless sea of mental health-focused startups in the world of digital health, but the ones that stand out are still doing a great job of securing capital. Based in Philadelphia Neuroflow It is an example.
He announced that he will start on Thursday He collected 25 million dollars In managed development capital SEMCAP Health. The behavioral health integration software provider has now raised about $57 million, Adam Pardes, co-founder and COO, said in an interview.
In the year Founded in 2016, NeuroFlow’s goal is to integrate behavioral health with holistic health care, Pardes said. By achieving this, the startup’s technology has “great potential to improve patients’ lives, reduce the burden on providers, and reduce unnecessary costs in the healthcare system,” he said.
The company’s platform allows providers to provide behavioral health assessments to patients that can diagnose a wide range of conditions, including anxiety and depression. The platform engages with patients by providing them with personalized self-care tasks and allowing them to record daily insights such as sleep patterns and mood scores. This platform allows patients to measure their progress and update their risk levels.
The platform provides AI-powered clinical decision support tools to determine the best care plan for each patient.
“It’s unique because we have that feedback loop,” Pardes said. “We’re not just an app, we’re a system that our customers use for specific clinical needs and issues.”
NeuroFlow sells its technology primarily to health systems and payers, although the Department of Defense is also a customer. Other customers include Magellan Health, Trinity Health And Bozeman Health. According to Pardes, the platform reaches 15 million patients.
The startup is using the funds to expand its sales, business development and customer success teams, as well as increase its marketing budget. As NeuroFlow is working to expand its capabilities in Spanish and other languages, some of the funds will go toward product improvements, Pardes said.
But NeuroFlow isn’t the only digital health startup promising to improve patients’ mental health. His competitors include Concert health, SilverCloud Health And Mindoula Health.
To Pardes, NeuroFlow differentiates itself by combining effective patient engagement technology with decision support tools for clinical staff.
“There are many point solutions. “There were hundreds of thousands of mental health-related apps on the App Store, but they typically didn’t connect with anyone on the side of the care team,” he said. “And then there are different types of clinical decision support programs or services, but those typically don’t have patient engagement or user engagement, so what we’re doing with this combination is very unique.”
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