Vitalic, a new behavioral health provider for seniors, has just received $4M in seed funding. The services that the company offers are telepsychiatric therapy, coaching, and medication management, mainly for elder care.
VNS Health is a venture capital firm that comes first when it comes to investment in Vitalic. These investors understand the need to solve one of the emerging healthcare needs of the senior demographic.
Team-Based Approach to Behavioral Health
Ben Gardner, the CEO and co-founder of Vitalic, also pointed out that what the company is doing is helping senior citizens with medication administration, challenging behaviors, and psychosocial concerns. Michelle Hoy and Daniel Tan, Gardner’s fellow co-founders, also have experience working in the behavioral health industry, such as Array Behavioral Care, Mind Springs Health, and Lyra Health.
Medicare Advantage and Risk-Sharing Entities
Vitalic’s platform engages with Medicare Advantage plans, as well as risk-bearing providers. The company plans to enhance the value of its members and save on total health costs, especially for its high-risk members who do not get treated for BH conditions.
Such a platform entails the use of predictive analytics and risk profiling for the purpose of being able to enroll these members into relevant care plans.
Vitalic Hiring for Clinical Roles
Currently, Vitalic is looking for clinical managers, contract social workers, contract therapists, and geriatric psychiatrists. These clinicians will offer health care in a team care model, which is appropriate for older persons with multiple chronic conditions. However, the investment environment has remained tough, but organizations such as Vitalic still get funding to enhance behavioral health, especially for the elderly.
