Concert Health Completes $14M Series A Financing to Deliver Evidence-based Behavioral Health Services at Scale

  • Collaborative Care Management (CoCM) model gives providers and patients immediate access to high-quality behavioral health support in primary care
  • $14 million Series A led by Vertical Venture Partners
  • Partnerships with 44 medical groups and health systems including CommonSpirit provides access for millions of patients

January 28, 2021 10:00 AM Eastern Standard Time

SAN DIEGO–(BUSINESS WIRE)–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.1 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.3

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.

“The chasm between our physical and behavioral health systems leaves too many patients untreated, and leaves too many primary care physicians isolated,” said Spencer Hutchins, co-founder and CEO of Concert Health. “Concert Health’s mission is to re-architect America’s behavioral health system so that every patient has access to exceptional behavioral health services as part of their trusted primary care.”

“Physicians need a way to quickly and effectively address patients’ behavioral health needs,” said Virna Little, LCSW, PsyD, co-founder and chief operating officer of Concert Health. “Primary care providers are treating a huge amount of depression alongside other chronic diseases without sufficient support. By providing same-day access to Concert Health’s expert clinicians we are making it easy for primary care providers to identify and treat patients with behavioral health conditions. Our behavioral care managers and psychiatrists serve as an extension of the existing care team, helping physicians treat patients’ overall health more effectively and ultimately delivering demonstrable outcomes for the health care system.”

“Concert Health has built a powerhouse clinical team coupled with a modern technology platform in an area of health that we all know needs effective models that scale,” said Dave Schwab, Founder and Managing Director at Vertical Venture Partners. “We are proud to support their growth, and look forward to collaborating with their management team to scale an industry-changing organization.”

Concert Health currently supports over 800 physicians in seven states: Arizona, California, Connecticut, Florida, New Mexico, New York, and North Carolina. The company’s services are available through partnerships with 44 medical groups and health systems including CommonSpirit Health, a national nonprofit health system dedicated to advancing health for all.

[1] Park-Lee, E., Lipari, R. N., Hedden, S. L., Kroutil, L. A., & Porter, J. D. (2017). Receipt of Services for Substance Use and Mental Health Issues Among Adults: Results from the 2016 National Survey on Drug Use and Health. In CBHSQ Data Review. (pp. 1–35). Substance Abuse and Mental Health Services Administration (US).

[2] Unützer, J., Katon, W., Callahan, C. M., Williams, J. W., Jr, Hunkeler, E., Harpole, L., Hoffing, M., Della Penna, R. D., Noël, P. H., Lin, E. H., Areán, P. A., Hegel, M. T., Tang, L., Belin, T. R., Oishi, S., Langston, C., & IMPACT Investigators. Improving Mood-Promoting Access to Collaborative Treatment (2002). Collaborative care management of late-life depression in the primary care setting: a randomized controlled trial. JAMA288(22), 2836–2845. https://doi.org/10.1001/jama.288.22.2836

[3] S. P. Melek, D. T. Norris, & J. Paulus. (2014). Economic Impact of Integrated Medical-Behavioral Healthcare: Implications for Psychiatry. Denver, Colo.: Milliman, Inc.

[4] Archer, J., Bower, P., Gilbody, S., Lovell, K., Richards, D., Gask, L., Dickens, C., & Coventry, P. (2012). Collaborative care for depression and anxiety problems. The Cochrane database of systematic reviews10, CD006525. https://doi.org/10.1002/14651858.CD006525.pub2

About Concert Health

Concert Health is building America’s best and largest behavioral health medical group. Through Collaborative Care Management, an evidence-based model for treating depression and anxiety in primary care settings, Concert makes it easy for primary care physicians to deliver high-quality behavioral health care and improve clinical outcomes. Concert’s turnkey behavioral health services, which include an expert clinical team and a powerful technology platform, are available through partnerships with medical groups and health systems in seven states: Arizona, California, Connecticut, Florida, New Mexico, New York, and North Carolina. To learn more about Concert Health’s approach, visit concerthealth.io.

Concert Health, Inc. is an administrative and managerial services company affiliated with several professional corporations that deliver medical services. Together, these organizations operate under the “Concert Health” brand.

Contacts

Thermal for Concert Health
Brenna Sweeney
concerthealth@thermalpr.com

Jan. 28, 2021 |