UnitedHealthcare has selected two new mental health companies as part of its healthcare accelerator.
Last week, the large commercial payer announced that digital mental health company Mood Health and substance use disorder-focused startup YourPath would be part of its 4-month accelerator program.
A total of 10 healthcare startups were selected to participate in the program based in Minneapolis, Minnesota. UnitedHealthcare is the insurance division of UnitedHealth Group Inc. (NYSE: UNH), one of the world’s largest health care companies.
“Now in our fourth year, UnitedHealthcare Accelerator continues to prove to be a valuable tool that helps us [develop solutions] for some of the most pressing challenges in health care,” Kaylene Thompson, vice president of innovation for UnitedHealthcare, said in a statement. “We have built an amazing community of startups, mentors, and leaders with diverse perspectives and experiences that enable businesses to thrive.”
YourPath is focused on helping people with substance use disorder (SUD) gain access to treatment. Their services include comprehensive assessments and referrals, medication-assisted treatment, counseling and training, and care coordination.
The Saint Paul, Minnesota-based company was founded in 2020 and has raised around $500,000, according to PitchBook.
Mood Health seeks to help people seeking mental health resources obtain care.
Your clients can take a virtual quiz and then be matched with a doctor. After that, the client and doctor have a video call to discuss next steps and design a plan of care. Once the client begins treatment, she can obtain prescriptions and schedule follow-up visits.
Their platform also includes a mood tracker.
The Miami, Florida-based startup was founded in 2019, according to Crunch base.
UnitedHealthcare Accelerator Program
Companies in the new UnitedHealth cohort will have access to a network of internal and external mentors. Mentors have a variety of backgrounds in areas including technology, strategy, clinical, marketing, and finance.
Startups receive $50,000 from SAFE with no limit. In addition, the program provides fundraising support to new businesses in the future.
Entrepreneurs in the program will also have access to UnitedHealthcare’s clinical health information, technology and clinical expertise.
In addition to mental health startups, accelerator companies include Delfina, a data platform for pregnancy care; Ferrum Health, an AI solution for early disease detection; and Live Chair Health, which describes itself as a “culturally relevant” member engagement and activation arm for health plans and systems.
ORX Surgical, PayGround, Pluto Health, Tembo Health and WellTheory are also among this year’s cohort.
“We are delighted to welcome our newest cohort to our community and are excited about the positive impact we can have on health together,” Thompson continued.
Contextually, Mood Health and YourPath will need to stand out in an increasingly competitive landscape for mental health companies.
In 2021, digital mental health companies saw an unprecedented amount of funding. However, the offers have slowed down in 2022. a number of companies, including To equip, LiraY bright line have closed funding rounds this year.
