Once the patient submits their information, it’s analyzed and added to the patient’s electronic medical record, where the care team is then able to see it and respond, if necessary. Conversa’s browser-based service, which works on any device, integrates information from electronic health records, biometric monitoring software, and patient-generated health data to determine what follow-up questions to ask. It’s a problem many startups, as well as large healthcare organizations, are jockeying to solve.Ĭonversa’s primary offering is the digital checkup, where an algorithm generates personalized follow-up care questions delivered in the form of casual-sounding text messages, emails, or private inbox messages on a patient portal. According to the National Institutes of Health, patient nonadherence can jeopardize recovery, with an estimated 40 percent of patients sustaining significant risks by misunderstanding, forgetting, or ignoring healthcare advice. healthcare system that results when patients leave the hospital with a care plan requiring adherence. The amount of U-M’s investment was not disclosed.Ĭonversa CEO West Shell said he started the company to try to fix the “monstrous gap” in the U.S. Singh has a hold rating and a $5 price target on Amwell.The University of Michigan’s student-run Social Venture Fund has contributed to a $3 million seed round for Conversa Health, a Bay Area heathtech company aiming to improve patient engagement. Trust analyst, Jailendra Singh, pointed out in a note that TALK’s B2B business potential could be the main asset for Amwell as the company would then be able to generate extra revenue, given the strong payee relationship combination existing between the two companies. For Amwell to acquire Talkspace would therefore result in the former getting a larger market share of telebehavioral health and thereby expand its services through Talkspace’s B2B pivot which has the potential to complement the business model of Amwell. In addition to the CVS tie-up, Amwell continues to lay stress on its behavioral health services at large by planning to fully integrate its D2C behavioral health subsidiary, Silvercloud, to provide best care, patient benefits and substantial cost savings. Amwell CEO, Ido Schoenberg, said ” The CVS Virtual Care digital front door is an exciting new initiative, and we are honored to be selected as the backdrop for this vision”. Additionally, in August 2022, CVS Health roped in Amwell to provide its new virtual primary health care offering including on-demand behavioral health services. In May 2022, Amwell announced a new therapy service ‘Amwell Comprehensive’, which combined the Silvercloud programs with the virtual health care offered by Amwell’s clinical health partner, Amwell Medical Group. While Silvercloud provides its users with coaching and self-guided support programs, Conversa offers patient engagement tools via text messaging services. As far as Amwell is concerned, it already enjoys a strong foothold in the behavioral health market, especially after acquiring the digital health platform ‘Silvercloud Health and Conversa Health’ both for $320 million.
If the merger comes through, it means a user can sign into Talkspace for a text chat with a therapist and then jump on to a video session via the Amwell platform to provide continuous care between appointments via text messaging. Its unified platform ‘Converge’ accounts for 16% of the total visits ending Q3, 2022, the reason a deal with Talkspace could expand its patient network and offerings, in a highly competitive field for both sides. The company has been facing challenges in the market and its share now trades at $3.40 as against $18, when it first went public on Septemunder the symbol AMWL. Acquiring Talkspace would do Amwell a world of goodīoston-based telehealth company, Amwell, offers a wide range of services such as urgent, primary and special care primarily on a B2B basis through contracts with payers as well as employers.
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