MentalHappy is taking a unique approach to mental healthcare.
It’s created a digital tool for health and wellness professionals, enabling them to launch their own group therapy services. These expert-led sessions enable those seeking help to speak with a therapist and receive support from their peers.
MentalHappy’s HIPAA-compliant platform launched earlier this year, and is used by professionals nationwide. The company has raised funding from Y Combinator, Index Ventures, Social Impact Capital, and Northwestern Mutual Future Ventures.
Now it’s seeking additional capital to onboard more professionals and scale its platform.
This company’s service is an example of “telehealth,” a term referring to the use of technology to access health-related services.
In the wake of Covid-19, telehealth became a popular, safe way to “visit” a doctor or seek medical advice. But in the aftermath of the pandemic, it’s become the primary way many people receive care.
According to consulting firm McKinsey, telehealth use levels are 38x higher than before Covid-19 struck. And many people use telehealth services for mental health.
Platforms like Talkspace and Lyra offer users the chance to speak with therapists, and have become billion-dollar businesses in the process. By 2030, the market for mental health apps is projected to surpass $17 billion.
But often, the same therapists offer help across multiple platforms. That’s encouraging, but nearly half of them say they are overwhelmed and burned out. There are only 30 licensed therapists for every 100,000 Americans.
That’s why MentalHappy is taking a different approach. Instead of a therapist needing to book 10 sessions to speak to 10 different people, they can now offer group therapy sessions. This enables more patients to receive treatment and reduces the number of sessions a therapist has to conduct.
The benefits of using MentalHappy’s platform include:
• Expanding mental-health services through online support groups.
• Providing additional guidance and practical wellness solutions.
• Scheduling and conducting virtual group sessions.
• Connecting patients safely with their peers for emotional support.
• Reducing hospitalization rates and days spent in inpatient services.
Professionals using MentalHappy set their own rates. Someone running a group of 75 members, charging $20 per member, could earn $1,500 a month. To generate revenue, MentalHappy takes a 10% fee from a professional’s monthly earnings on the app.
MentalHappy’s platform is available through iOS and Android. And the company has been featured in Forbes, TechCrunch, and the Silicon Valley Business Journal. Recently, it teamed up with NFL Hall of Famer Terrell Owens to spread the word about its platform.