Telehealth startup NeuroFlow raises $20 million to expand its network of care providers
NeuroFlow, a digital health company combining workflow automation, patient engagement solutions and services, and applied AI to promote behavioral health, today announced it raised $20 million in a round led by Magellan Health. The company says it will use the series B funds to scale its operations and support its growth in data analytics, AI, and direct health record integrations.
With record growth in telehealth adoption and historic spikes in depression and anxiety due to the ongoing pandemic, workflow augmentation solutions have been identified as top priorities in the industry. According to a 2017 survey by Medscape, 25% of medical professionals fall behind in their appointment schedule daily. Among the top contributors are spending more time with patients than a scheduled visit allows and taking breaks between appointments to record health notes.
NeuroFlow CEO and West Point graduate Christopher Molaro served in the U.S. Army for five years, including a tour in Iraq as the leader of a platoon. While pursuing his MBA at Wharton, Molaro met his future cofounder Adam Pardes, with whom he sought to develop a digital mental health app tightly integrated with services from care providers.
NeuroFlow works with health plans, provider systems, and the U.S. military and government to support virtual health programs by treating patients with depression, anxiety, and other behavioral health conditions across different care settings. The company’s app delivers self-care “evidence-based” programs, according to Molaro, with a severity score informed by activity to allow for monitoring of progress, compliance, and outcomes.
Clinicians can see data from smartphones and wearable devices, assign tasks for patients to complete at home (like meditation or journaling), and send automated motivational emails. Using AI — including natural language processing and behavioral analytics — the company aims to identify at-risk users based on red flags in the data.
“Behavioral health is not independent of our overall health — it affects our physical health and vice versa, yet most underlying behavioral health conditions go unidentified or are ineffectively treated. Most health care providers are overburdened, so introducing the concept to account for a person’s mental health in addition to their primary specialty can be overwhelming and lead to inconsistent and inadequate treatment,” Molaro said. “Technology, when used strategically, can enhance and augment providers, making the concept of holistic and value-based care feasible at scale and easy to implement.”
NeuroFlow says it has experienced substantial growth, with its contracted user base expanding 10 times to over 330,000 in support of nearly 200 commercial health systems, payers, accountable care organizations, independent medical groups, and federal agencies.
“Together with NeuroFlow, we will pave the way for a personalized, whole health approach that is fueled by leading edge digital capabilities,” Magellan Health CEO Ken Fasola said in a statement. “Our goal is to support optimal experience and outcomes for members and deliver transformative technology for our clinical professionals. This partnership is beneficial in achieving the best outcomes through measurement-based care, and best in class technology.”
Philadelphia-based NeuroFlow’s series B included participation from previous investors.
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