What You Should Know:
– NeuroFlow raises $20M to expand its technology-enabled behavioral health integration platform, led by Magellan Health.
– NeuroFlow’s suite of HIPAA-compliant, cloud-based tools simplify remote patient monitoring, enable risk stratification, and facilitate collaborative care. With NeuroFlow, health care organizations can finally bridge the gap between mental and physical health in order to improve outcomes and reduce the cost of care.
NeuroFlow, a Philadelphia-based digital health startup supporting technology-enabled behavioral health integration (tBHI), announces today the initial closing of a $20M Series B financing round led by Magellan Health, in addition to a syndicate including previous investors. Magellan is a leader in managing the fastest growing, most complex areas of health, including behavioral health, complete pharmacy benefits and other specialty areas of healthcare.
NeuroFlow for Digital Behavioral Health Integration
NeuroFlow works with leading health plans, provider systems, as well as the U.S. military and government to enhance virtual health programs by delivering a comprehensive approach to whole-person care through digital behavioral health integration – an evidence-based model to identify and treat consumers with depression, anxiety and other behavioral health conditions across all care settings.
Key features of the behavioral health platform include:
– Interoperability: Seamless EHR and system integrations minimize administrative burden and optimize current IT investments.
– Measurement-based Care & Clinical Decision Support: NeuroFlow enables MBC at scale, keeps the patient in the center of care, and continuously monitors for a consistent connection to critical data and clinical decision support.
– Performance Management & Reporting: Recognize the impact of your BHI program, monitoring the impact of clinical interventions on quality and cost of care while recognizing outliers requiring program adjustments.
– Consumer Engagement & Self-Care: personalized experience that encourages, rewards and recognizes continuous engagement and monitoring
Maximize Efficiency, Revenue and Reimbursements
By integrating behavioral health into the primary care setting, increasing screening and self-care plans – NeuroFlow’s BHI solution can reduce ED utilization by 23% and inpatient visits by 10%. 80% of NeuroFlow users self-reported a reduction in depression or anxiety symptoms and 62% of users with severe depression score improve to moderate or better.
Telehealth Adoption Underscores Need for Behavioral Healthcare
With record growth in telehealth adoption and historic spikes in depression and anxiety due to the ongoing pandemic, workflow augmentation solutions and the delivery of effective behavioral health care have been identified as top priorities in the industry. NeuroFlow’s technology increases access to personalized, collaborative care while empowering primary care providers, care managers, and other specialists to most effectively support patient populations by accounting for and addressing behavioral health.
“Behavioral health is not independent of our overall health — it affects our physical health and vice versa, yet most underlying behavioral health conditions go unidentified or are ineffectively treated. Most healthcare providers are overburdened, so introducing the concept to account for a person’s mental health in addition to their primary specialty can be overwhelming and lead to inconsistent and inadequate treatment,” said NeuroFlow CEO Chris Molaro. “Technology, when used strategically, can enhance and augment providers, making the concept of holistic and value-based care feasible at scale and easy to implement.”
Strategic Partnership with Magellan
Magellan Health’s network of more than 118,000 credentialed providers and health professionals are now poised to join NeuroFlow customers across the country by leveraging the best-in-class integrated data and analytics platform to meet the rising demand for enhanced mental health services and support. By partnering with and investing in NeuroFlow, Magellan has the opportunity to drive further adoption of NeuroFlow’s behavioral health integration tools and drive collaborative care initiatives with its customers as well as its vast network of credentialed providers and health professionals across the country.
Expansion Plans
NeuroFlow will use the Series B proceeds to scale its operations and support its growth in data analytics, artificial intelligence, and direct health record integrations. NeuroFlow’s contracted user base has grown 10x to over 330,000 in support of almost 200 commercial health systems, payers, accountable care organizations, independent medical groups, and federal agencies to provide technology-enabled care solutions.
