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Inside Boulder Care’s $36 Million Series B & Scaling Telehealth Addiction Treatment in Medicaid

BY JESSICA DaMASSA, WTF HEALTH

Telehealth addiction treatment clinic Boulder Care just closed a $36 million Series B. I’ve got Founder & CEO Stephanie Strong here to talk about the virtual care company’s medication-assisted approach to opioid and alcohol use disorder treatment, and its growing-bigger-by-the-day presence in the Medicaid market.

In fact, more than 95% of Boulder Care’s revenue comes in from Managed Medicaid plans, and this focus on making medications like Suboxone accessible to traditionally marginalized patients is not only better for patients (drugs like these can cut all-cause mortality rate by half or more) but also compelling for payers. Stephanie says patients suffering from opioid addiction who go untreated are 550% more expensive to the plan than those who are not, and these types of medications facilitate recovery by making it bearable, blocking withdrawal symptoms.

We get into the details behind Boulder Care’s approach, which includes a number of wrap-around support services, including those provided by the startup’s care delivery team that is set to grow as a result of this Series B funding. And speaking of scaling… Does Stephanie have any concerns about challenges that Boulder Care might face prescribing-and-managing controlled substances as a result of the scrutiny created by Cerebral’s bad behavior? Any additional concerns about changes to the clinic’s telehealth practices when the Covid19 public health emergency comes to an end? And…what about competition in this space?? Particularly as similar-looking Bicycle Health announced its $50 million Series B just days earlier? A great inside look at how virtual care is changing the specialized mental health care space.

Matthew’s health care tidbits: Hospital shooting reveals so much

Each week I’ve been adding a brief tidbits section to the THCB Reader, our weekly newsletter that summarizes the best of THCB that week (Sign up here!). Then I had the brainwave to add them to the blog. They’re short and usually not too sweet! –Matthew Holt

In this edition’s tidbits, the nation is once again dealing with an epidemic of shootings. Now a hospital joins schools, grocery stores and places of worship on the the recent list. I was struck by how much of the health care story was wrapped up in the tragic shooting where a patient took the life of Dr. Preston Phillips, Dr. Stephanie Husen, receptionist Amanda Glenn, 40; and patient William Love at Saint Francis Health System in Tulsa.

First and most obvious, gun control. The shooter bought an AR-15 less than 3 hours before he committed the murders then killed himself. Like the two teens in Buffalo and Uvalde, if there was a delay or real background checks, then these shootings would likely have not happened.

But there’s more. Hospital safety has not improved in a decade or so. Michael Millenson, THCB Gang regular, has made that plain. And that includes harm from surgery. We know that back surgery often doesn’t work and we know that Dr Phillips operated on the shooter just three weeks before and had seen him for a follow up the day before. Yes, there is safety from physical harm and intruders–even though the police got there within 5 minutes of shots being heard, they were too late. But there is also the issue of harm caused by medical interventions. Since “To Err is Human” the issue has faded from public view.

Then there is pain management. Since the opiate crisis, it’s become harder for patients to get access to pain meds. Was the shooter seeking opiates? Was he denied them? We will never know the details of the shooter’s case, but we know that we have a nationwide problem in excessive back surgery, and that is matched by an ongoing problem in untreated pain.

And then there are the two dead doctors. Dr. Husen, was a sports and internal medicine specialist. Obviously there are more female physicians than there used to be even if sexism is still rampant in medicine. But Dr. Phillips was an outlier. He was black and a Harvard grad. Stat reported last year that fewer than 2% of orthopedists are Black, just 2.2% are Hispanic, and 0.4% are Native American. The field remains 85% white and overwhelmingly male. So the chances of the patient & shooter, who was black and may have sought out a doctor who looked like him, having a black surgeon were very low in the first place. Now for other patients they are even lower.

The shooting thus brings up so many issues. Gun control; workplace safety; unnecessary surgery; pain management; mental health; and race in medicine. We have so much to work on, and this one tragedy reveals all those issues and more.

Republican Health Policies Disproportionally Harm White Citizens in Their States

BY MIKE MAGEE

As Ive said before, I believe Dr. Ladapo is an anti-science quack who doesnt belong anywhere near our states Surgeon General office, let alone running it. But now that hes been confirmed, its my sincere hope that he and Governor DeSantis choose to focus on saving lives and preventing unnecessary illness instead of continuing their absurd promotion of conspiracy theories and opposition to proven public health measures — but Im not going to hold my breath.”

If you identified these as the words of the former governor, and now Congressman Charlie Crisp, currently running to retake the office he once held, you’d be wrong. These are the words of another state Democrat who is running a distant 2nd in the Democratic primary battle set for this summer.

Continue reading…

THCB Gang Episode 95, Thursday June 9

Joining Matthew Holt (@boltyboy) on #THCBGang on Thursday June 9 were THCB regular writer and ponderer of odd juxtapositions Kim Bellard (@kimbbellard); fierce patient activist Casey Quinlan (@MightyCasey); Principal of Worksite Health Advisors Brian Klepper (@bklepper1) & Queen of all employer benefits Jennifer Benz (@jenbenz)

You can see the video below & if you’d rather listen than watch, the audio is preserved as a weekly podcast available on our iTunes & Spotify channels.

Can SameSky Health Fix the ‘Trust Issues’ Minority Populations Have with Big Healthcare?

BY JESSICA DaMASSA, WTF HEALTH

Healthcare needs to move into 2022 and get away from the one-size-fits-all approach that healthcare takes almost everywhere and, instead, treat people like who they are matters.” That’s the challenge coming from SameSky Health’s founder & CEO Abner Mason whose business is helping some of healthcare’s most notorious “one-size-fits-all-ers” (health plans) improve the way they engage with diverse populations.

SameSky has built a proprietary tech platform that creates an ‘n of 1’ approach to member engagement that is focused on using data to understand who each individual member is at a “cultural” level which, as Abner defines it, is not just about ethnicity or race, but about ALL the factors that go into how a person makes a decision about whether or not to seek care, where to get that care, and who they ultimately trust to deliver it.

You can call it “micro-targeting-at-scale” and Abner compares it to the way Netflix customizes movie recommendations based on what it learns about its users. SameSky is hoping to achieve the same level of consumer-focused customization among Medicaid populations, and is working with some of the biggest names in the biz (UnitedHealthcare, Anthem, Humana and others) to tailor an annual “journey” to each member that helps members build trust with their plan, helps the plan get to know their members, and, in the end, helps both the plan AND the member satisfy mutual needs when it comes to getting things like annual health screenings done.

Will we eventually get to a more equitable and personally-tailored healthcare system? Stick around until the last few minutes to hear what Abner finds exciting about some of the new federal regulations that impact health data collection and what he sees as their big-picture impact on the future of health equity. PLUS, a bonus for all those who may have been wondering: What prompted the name change to SameSky Health from ConsejoSano?? Is this REALLY because Matthew Holt could never pronounce it? The shocking backstory is revealed!

#HealthTechDeals Episode 34 | Carebridge, Nava Benefits, Bicycle Health & LeanTaas

Matthew has been out at the Going Digital Behavioral Health reception meeting all of Jessica’s fans, and discovering what they like about the show! Meanwhile a big funding round for Carebridge ($140m), with more $$ for Bicycle Health ($50m probably not to be spent on bikes) & Nava Benefits ($40m). Plus LeanTaas gets bought by private equity group Bain Capital.

Hey, Old Guys!

BY KIM BELLARD

OK, how many of you had on your women-in-power bingo cards that, in 2022, Sheryl Sandberg would be out at Facebook but Queen Elizabeth II would still be Queen?  It’s the Queen’s Platinum Jubilee, marking seventy years on the throne.  She’s getting a lot of love for that tenure, but it makes me think, geez, some people just don’t know when to step away.

Perhaps what sparked my cynicism about the Queen was an op-ed by Yuval Levin, Why Are We Still Governed by Baby Boomers and the Remarkably Old?  Dr. Levin is, of course, referring to the U.S., and he’s spot-on about our governance problem.  But I think the problem goes further: we have too many old people running our companies and major institutions as well.  

Whether it is, say, healthcare, education, or the military, we’re so busy protecting the past that we’re not really getting ready for the future.

Continue reading…

#HealthTechDeals Episode 33|Aledade, Tripp, Socially Determined, and Digital Diagnostics

The question of the day: does 25 people leaving a several 100-person company REALLY count as a “mass exodus”? In this episode, Jess and I find out! Hey – it’s the startup world, things explode all the time. Some new deals: Aledade raises $123 million; Tripp raises $11 million; Socially Determined raises $22.7 million; Digital Diagnostics raises $46.3 million.

-Matthew Holt

7WireVentures’ Lee Shapiro: What’s Ahead for Investment in Health Tech

By JESSICA DaMASSA, WTF HEALTH

What’s Lee Shapiro’s take on the health tech market’s state-of-play? 7wireVenture’s Co-Founder and Managing Partner stops by to talk early-stage investment, what’s hot and what’s not post-pandemic, and how he views the digital health funding frenzy of the past couple years which, one could argue, was kicked into high-gear by portfolio-company-slash-previous-employer Livongo.

Lee says there’s “enough broken business processes in healthcare to last a lifetime,” which means a lot of opportunity for consumer-minded health tech startups to change things, but does the recent slowdown in venture funding and pummeling of public market health tech stocks indicate that the category is in trouble before it even gets a chance to make a real impact? We get Lee’s opinion on whether or not the market is cooling, what he thinks will happen next with valuations, and what he views as the best way to scale a healthcare startup – particularly as we watch Glen Tullman run the ‘Livongo playbook’ at new business Transcarent. And, speaking of Glen… did Lee really teach him everything he knows?? We’re starting some trouble in this one!

#HealthTechDeals Episode 32| Hint Health, Moxe Health, uMotif, Fairtility, Circles

Shots have been fired. Hear the crickets? Maybe it’s the chirping from health technology twitter, particularly on the lack of deals? NO! That sound you hear is the stunning silence from our epic burns this episode. Shoutout to our new sponsor AHIP – check out the AHIP Conference 2022 taking place in Las Vegas! Common (the rapper) will be there. Tickets are $100 off with code THCB. Some deals: Hint Health raises $45 million; Moxe Health raises $30 million; uMotif raises $25 million; Fairtility raises $15 million; Circles raises $16 million.

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