Mental health startup Quartet Health partners with Independence Health Group
Quartet Health is a company that uses analytics to compare patients with Mental health solutions According to Thursday’s press release, companies that meet their needs and preferences are cooperating with the insurance company Independence Health Group to provide mental health services to all Independence members.
The startup has raised more than $60 million to support the new joint venture, building on the existing partnership between the two companies to expand behavioral health services in southeastern Pennsylvania. Independence led additional investments in GV and Oak HC/FT. As part of the strategic partnership, Independence CEO Gregory Deavens will join Quartet’s board of directors.
Quartet believes that this move will enable the company to improve its data and analysis to better manage patient care, accelerate access to mental health services, measure and reward quality Support more patient conditions and population more effectively.
During the COVID-19 pandemic, the demand for behavioral healthcare has soared, triggering a wave of new investments in companies, making it easier for them to access behavioral healthcare services.
According to the Caesars Family Foundation, from January to June 2019, 11% of adults reported symptoms of anxiety and/or depression, and this number soared to more than 41% in January 2021.
According to a report, in the first nine months of this year, more than $4.4 billion was invested in mental and behavioral health startups, a 70% increase from 2020. report From the Global Mental and Brain Health Investment Institute.
According to Digital Health Business & Technology data, Oak HC/FT and GV were the two largest venture capital institutions in the digital health field in the third quarter, participating in five and four transactions respectively.