Virtual Psych Consolidation - Good For Patients?
Amwell is reportedly in talks to purchase Talkspace, the behavioral health focused virtual company that started as a consumer focused model but was among the first to get contracts with payers and promoted as a telehealth option for PCPs who had patients in the room with depression. It has 86 million eligible lives and the potential merging represents a broader theme – payers buying generalist telehealth, these telehealth companies buying specialty services, like dermatology or PT. For office based practices, there are 2 questions—can you get on the short list for referrals and will these companies “replace” your volume? For patients, the consolidation may make it easier to extend access and limit wait time and perhaps over time lower cost of care and give someone access to a specialist they couldn’t get elsewhere. For example, it’s not uncommon for a 17 year old to work with a therapist for a few sessions only to find that it’s not working well, but needing someone different, more specialized in their issues - e.g. self esteem, anxiety. So, perhaps this “consolidation” provides a more streamlined approach to get to a better match. This is speculation, as there are also some who are concerned that the more that rolls up into one the harder it may be for patients to get good, very human service - will appointments and interaction move solely to text or email in a way that may make it less personal or more challenging? All good questions to consider as businesses find ways to work together to solve medical and mental health issues in creative ways.