What You Should Know:
– UpLift, a vertically integrated mental healthcare delivery platform raises $8M in secondary funding which they plan to allocate to expand their hybrid model services to include psychiatric treatments in an effort to close the behavioral healthcare gap and optimize the appropriate plan of care.
UpLift, the first vertically integrated mental healthcare delivery system, announced their expansion into psychiatry as well as the closing of $8M in secondary funding led by B Capital Group with additional participation from Vivek Garipalli, Bay Gross, Bobby Green, as well as pro rata financing from several others. By including psychiatry onto the UpLift platform, psychotherapists work hand-in-hand with psychiatrists in order to close the behavioral healthcare gap, coordinate with the primary care provider and optimize the appropriate plan of care.
Recent reports show approximately 1 in 5 American adults have a mental health diagnosis, causing a surge in consumer demand and exponential growth in the behavioral health market. While demand was met by a flood of new behavioral healthcare startups, the industry failed to meet the consumer need for accessible and affordable, satisfactory treatment using evidence-based integrated mental healthcare, leaving more than 55% of those in need without adequate care.
Studies show that an integrated treatment plan has proven to be more 2x more effective than standalone medication or psychotherapy treatment, yet more than 70% of patients taking antidepressants have not seen a mental health provider in the past year. A medication-first treatment model often fails to address a patient’s underlying mental health challenges, which is one reason UpLift leads with psychotherapy and integrates medication for supplemental support to create a comprehensive care plan effective in the long term.
Effective & Affordable Therapists
Founded in May 2021 by CEO Kyle Talcott at Redesign Health, UpLift is committed to building the infrastructure to deliver a continuum of mental healthcare. By including psychiatry onto the UpLift platform, psychotherapists work hand-in-hand with psychiatrists in order to close the behavioral healthcare gap, coordinate with the primary care provider and optimize the appropriate plan of care. UpLift launched in May 2021 in DC and VA with its first health plan partner, BCBS CareFirst. UpLift has since expanded to MD and partnered with United/Optum, Cigna and BCBS Anthem, and has plans to more than double its geographic footprint in 2022.
“At UpLift, we’re building the infrastructure to deliver a continuum of mental healthcare,” said Kyle Talcott, CEO, UpLift. “UpLift starts with an in-network, virtual or in person therapist and uses medication to augment the base treatment plan, delivering the most effective and sustainable care to patients. The providers on our platform work as a truly integrated care team and our platform team provides support every step of the way – from insurance and billing to prescription fulfillment – to ensure a seamless and effective patient experience from start to finish.”