Concert Health Completes $14M Series A Financing to Deliver Evidence-based Behavioral Health Services at Scale
Concert Health, a leading behavioral health medical group, today announced the closing of its Series A funding round at $14 million led by Vertical Venture Partners with participation from Town Hall Ventures and Silicon Valley Bank, and continued support from early investors including Healthy Ventures and Clearvision Equity. The funds were a mix of equity and credit. The capital will be used to grow Concert’s clinical, technology and commercial teams to rapidly scale Concert’s exceptional, turnkey behavioral health services in primary care and women’s health settings.
Nearly half of Americans with behavioral health conditions receive no treatment. Even for patients that do get help, too often it only comes from an overtaxed primary care provider who lacks the support and expertise to intervene effectively and systematically track outcomes, with far-reaching consequences for both the patient and the health system. Clinically, over 80% of people identified with depression who do not receive measurement-based care still have symptoms a year later.2 Furthermore, studies show that uncontrolled behavioral health conditions such as depression or anxiety exacerbate other chronic conditions, worsening health and increasing health care expenditures by over 2.5 times in comparison to people without uncontrolled depression.
Since 2018, Concert Health has been working to make high-quality behavioral health services available at the primary care level to Americans in need. The Collaborative Care Management (CoCM) model, which has been proven to significantly improve depression and anxiety outcomes compared with traditional primary care4, is already a covered benefit nationally for Medicare, most commercial insurances, and Medicaid programs in 18 states. Concert’s team of expert Behavioral Care Managers and psychiatrists provides patients immediate access to evidence-based behavioral health support as part of their primary care team and supports providers in effectively diagnosing and treating these conditions to improve both physical and mental health. As a result, over 60% of Concert Health patients have seen their symptoms of depression or anxiety reduce by half within the first 90 days.
