• COVID-19
  • Opinion
  • Health IT
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Patient Engagement
    • Population Health Management
    • Revenue Cycle Management
    • Social Determinants of Health
  • Digital Health
    • Artificial Intelligence
    • Blockchain
    • Mobile Health
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • M&A
  • Value-based Care
    • Accountable Care (ACOs)
    • Medicare Advantage

Vida Health Nabs $25M to Expand Virtual Health Platform for Personalized Mental and Physical Care

by Jasmine Pennic 04/30/2020 Leave a Comment

Vida Health Nabs $25M to Expand Virtual Health Platform for Personalized Mental and Physical Care

What You Should Know:

– Virtual healthcare platform, Vida Health, announced today that it raised $25 million in new funding to meet the increased demand for mental and physical virtual care.

– Since launching in 2014, Vida has fine-tuned its approach to mental health. Participants working with Vida’s nationwide therapy coverage in all 50 states have shown an average reduction of anxiety and depression by more than 50%.


Vida Health, a personalized virtual care platform for physical and behavioral health has raised $25M in funding led by Ally Bridge Group (ABG), a leading global life science investment firm. Returning investors include Yahoo! founder Jerry Yang’s AME Cloud Ventures, Aspect Ventures, Canvas Ventures, NGP Capital, Webb Investment Network, and Workday Ventures.

Mental and behavioral disorders affect 50+ million people in the U.S. and, according to the National Institutes of Health, cost the U.S. economy $193.2+ billion in lost productivity and earnings. Yet, historically, 60% of those affected don’t seek treatment. With COVID-19 exacerbating uncertainty, anxiety, and depression, virtual mental health has seen a dramatic increase in demand in the last several months.

Digital Platform Driving Member Engagement & Behavior Change

Founded in 2014, Vida has the advantage of getting an early start in treating multiple conditions and diseases at once, addressing the root of the problem for chronic disease with digital therapeutic interventions and sustainable behavioral change. Vida pairs individuals with a human health coach who is an expert in behavior change and knowledgeable in the area of need, whether it’s nutrition, weight loss, fitness, diabetes, stress management or other conditions.

The platform integrates deep individual expert care with data-driven technology and remote monitoring to deliver best-in-class health outcomes and cost savings to employers and health plans. To-date, some of the largest nationwide health plans and employers have benefited from Vida’s unique offering.

Recent Traction/Milestones

The COVID-19 pandemic is shining a light on the growing need for virtual, personalized mental and physical care. Since COVID was declared a pandemic in early March, Vida Health has launched to 500k+ new lives, bringing the total number of covered lives to more than 1.4 million. Vida Health co-founder and CEO Stephanie Tilenius said the funding will be used to help meet the increased demand for virtual care, particularly in mental health.

“Every founder hopes to see the company they’ve worked so hard to build become part of a solution to something big,” said Tilenius. “While I never would have hoped for a tragic pandemic like COVID-19, I’m thankful that our platform is ready and able to meet this increased demand and improve the lives of those chronic patients who are most at risk of serious complications from this virus.”

Since launching in 2014, Vida has fine-tuned its approach to mental health. Participants working with Vida’s nationwide therapy coverage in all 50 states, have shown an average reduction of anxiety and depression by more than 50%. One Fortune 500 customer saw an average reduction of 84% in depression scores and 72% in anxiety scores, as assessed by the clinically validated Patient Health Questionnaire (PHQ-8) and the Generalized Anxiety Disorder Scale (GAD-7), respectively.

RELATED:   Provider Strategies for Mitigating Telehealth Fraud & Abuse in 2021

Tagged With: behavior, Behavioral Health, Behavioral Telehealth, cloud, Depression, diabetes, Mental Health, risk, Vida Health, Virtual Care, Virtual Healthcare

[ultimatesocial networks="facebook,twitter,google,linkedin,mail" url="" custom_class="us-posts-bottom" align="left" count="false"]

Get in-depth healthcare technology analysis and commentary delivered straight to your email weekly

« Report: How COVID-19 is a Blue Moon Moment for Mental Health Technology
Coding in Age of COVID-19: Deciphering Coding Nuances, Best Practices »

Subscribe to HIT Consultant

Latest insightful articles delivered straight to your inbox weekly.

Submit a Tip or Pitch

Recent Articles

  • Cerner Leadership Changes, Other Key Executives Hires

    ... more
  • QGenda acquires Shift Admin – M&A

    QGenda Acquires Automated Provider Scheduling Platform Shift Admin – M&A

    ... more
  • Telehealth After COVID-19: What's Next for the Healthcare Industry?

    Transitioning from Traditional to E-Fax: How Healthcare Communications are Transforming Post-COVID

    ... more
  • FCC COVID-19 Telehealth Program Providers

    FCC Unveils 14 Initial Projects Selected for $100M Connected Care Pilot Program

    ... more

Most Read

  • CVS Health Launches Senior Medical Alert System, Symphony CVS Health Launches Senior Medical Alert System, Symphony
  • 30 Executives Share Top Healthcare Predictions & Trends to Watch in 2021 30 Executives Share Top Healthcare Predictions & Trends to Watch in 2021
  • 20 COVID-19 Predictions and Trends for 2021 - Executive Roundup 20 COVID-19 Predictions and Trends for 2021 – Executive Roundup
  • 20 COVID-19 Predictions and Trends for 2021 - Executive Roundup MEDITECH Launches Quick Vaccination Solution to Streamline COVID-19 Vaccination Process
  • ONC Issues First Health IT Standards Bulletin Discussing USCDI & SVAP ONC Issues First Health IT Standards Bulletin Discussing USCDI & SVAP
  • 16 COVID-19 Predictions and Trends for 2021 Executive Roundup 12-Available-COVID-19-Vaccine-Management-Solutions-to-Know-In-Depth-1 17 Recently Launched COVID-19 Vaccine Management Solutions to Know
  • COVID-19 Deferrals Lead to 3 Major Conditions Payers/Providers Must Address in 2021 COVID-19 Deferrals Lead to 3 Major Conditions Payers/Providers Must Address in 2021
  • FDA Approves COVID-19 Oral Fluid Test for Use Nationwide In-Depth: 32 FDA-Approved COVID-19 Testing Kits
  • 5G in Healthcare: 7 Advantages & Disadvantages for Providers to Know 5G in Healthcare: 7 Advantages & Disadvantages for Providers to Know
  • FCC COVID-19 Telehealth Program Providers FCC Unveils 14 Initial Projects Selected for $100M Connected Care Pilot Program

Company

  • About Us
  • Advertise with Us
  • Reprints and Permissions
  • 2020 Editorial Calendar
  • Submit An Op-Ed
  • Contact
  • Subscribe

Editorial Coverage

  • Opinion
  • Health IT
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Population Health Management
    • Revenue Cycle Management
  • Digital Health
    • Artificial Intelligence
    • Blockchain Tech
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • Value-Based Care
    • Accountable Care
    • Medicare Advantage

Connect

Subscribe to HIT Consultant Media

Latest insightful articles delivered straight to your inbox weekly

Copyright © 2021. HIT Consultant Media. All Rights Reserved. Privacy Policy |