A Guide to Modern Health

 

Modern Health (modernhealth.com)

What is the company? How much have they raised to date?

Modern Health is a modern mental health EAP company founded in 2017. Modern Health last raised $74 million Series D at a valuation of just over $1.1 billion dollars. Modern Health offers courses and meditations, mental health coaches, and licensed therapists.

What's their mission? 
Modern Health is on a mission to destigmatize mental health, remove barriers to care and provide proactive support AND clinical support when needed.

Who founded the company? Are their clinicians on the executive team? 
Modern Health was founded by Alyson Watson. Prior to founding Modern Health, Alyson worked in Operations at Collective Health and Keas. Collective Health is a tech company that creates products to help other companies better take care of their people. Keas was acquired by Welltok. Keas was an engagement platform that used gamified experiences to incentivize health habits. The VP of Clinical Care at Modern Health is Myra Altman Ph.D. who has advanced several times during her career at Modern Health and has practiced as a licensed psychologist.

Note: Modern Health did have an additional co-founder who was fired by Alyson for performance reasons. The co-founder, Erica Johnson, in turn tried to sue Modern Health claiming wrongdoing.

What's the business model? How does this company make money?  
Modern Health is an EAP and earns revenue by working with over 300 companies globally.

What does one get for paying that price? 
Employees of companies that Modern Health partners with get a variety of mental health benefits. Modern Health uses validated clinical assessments to determine the best type of care for employees. Modern Health offers self-gudied courses, mental health coaching, and live therapy. In addition to these, Modern health offers it's own version of group support facilitated by Modern Health therapists and coaches. in fact, 81% of Modern Health members engaged in sub-clinical care as preventative measures.

What is the cancellation policy? 
Modern Health is offered through your employer. You may lose access if you leave your company, are laid off, or fired.

If applicable, what are the pay/benefits for therapists? 
It does not appear that clinicians are employed by Modern Health. Similar to other companies in this space, applying to be a provider is in an entirely different section of the site than careers. Modern Health offers community events for clinicians and coaches to discuss case consultations and ongoing learning opportunities.

The Review 
 Alyson Watson has an astounding 98% approval on Glassdoor, much higher than many other CEOs in this space. Many online reviews talk about the hypergrowth environment of working in a startup; however, they do NOT state that it has resulted in a loss in quality of care.  Most reviews are very positive. Being as clinicians are contracted, Modern Health's terms make it very clear that any provider/patient relationship is directly between the provider and patient. The way the terms are worded, Modern Health helps facilitate the introduction but then stops there. Any provider/patient relationship is established separately from Modern Health.

Modern Health is very clear they do not sell any information. Their privacy policy and practices are not boilerplate and even call out specifics like using data for research must be approved by a committee.

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