Talkspace which offer therapy video chat has gone a step further by hiring a chief medical officer, Neil Leibowitz, who was the former senior medical director at UnitedHealth. Talkspace hit 1 million users having been in business for more than five years. They offer weekly service @$79 for talking to a therapist online or a service to message a mental health professional going at $49.Through this CEO Oren Frank said that the company generated tens of millions of dollar in revenue. Having hired chief medical officer Talkspace will start prescribing medicine. Independent consultant psychiatrists are only able to prescribe via the video tool as a result of federal regulations. Leibowitz indicated that the company had not reached to a conclusion on weather certain prescription such as Opiates will be avoided.
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Leibowitz being one of the ex-insurance executive comes in to assist on corporate side of the business where the CEO hopes it will bring in half of Talkspace annual revenue. Partnership with employer-focused Magellan Health helped smoothen phase of the company. Recent studies indicated an increase in depression and anxiety among this generation and the impact of the issues on productivity has raised worry from employer on the topic on mental health. Talkspace CEO said that the business service gets tried by about 10% of customer’s employees. Leibowitz said that his decision to join Talkspace came after knowing the team and the product which he understood could increase access to therapists. From Robert Mittendorff, partner at Norwest Venture, he made clear that consumers are willing to pay for helpful health services.
On his twitter the CEO of Talkspace talks about the US politics on tweet dated 14th January 2019.The topic of discussion is on ”50 moments that define the Trump presidency”