Little Otter (littleotterhealth.com)
What is the company? How much have they raised to date?
Little Otter Health is one of the few mental health companies focused on pediatric mental health. They provide care for kids aged 0-14 that supports the entire family. Little Otter was founded in May of 2020 by a mom and daughter duo. They recently announced their Series A of $22 million dollars in January.
What's their mission?
Little Otter was founded based on the idea that the child mental health crisis could only be solved by treating the whole family in an accessible and scalable way.
Who founded the company? Are their clinicians on the executive team?
Little Otter was founded by Rebecca Egger and Dr. Helen Egger. Before becoming Co-founder and CEO, Rebecca Egger led product teams at Palantir and the Chan Zuckerberg Initiative. Dr. Helen Egger is the co-founder and Chief Medical/Scientific Officer. Dr. Egger has an incredibly impressive background, earning her MD from Yale, working as a psychiatrist at Duke and NYU Langone, and even served as Chair of the Department of Child and Adolescent Psychiatry
What's the business model? How does this company make money?
Little Otter is currently out of network but they suggest your insurance may cover up to 40%-70% of costs.
Initial Intake - $90
An initial child psychiatry evaluation is $500 for one hour.
- $200 per therapy session
- $680 for 4 sessions
- $1,920 for 12 therapy sessions
What does one get for paying that price?
The initial intake is a 30 minute welcome session with a care lead. “This includes a custom family mental health report with measurable insights and actionable feedback, texting, appointments with providers without a waitlist, and digital resources written by our experts.” Ongoing sessions are 45 minutes.
What is the cancellation policy?
Users can subscribe to long term agreements. Individual sessions must be canceled greater than 24 hours out of the appointment. If you purchase a bundle and decide to not use all of the sessions, there are zero refunds.
If applicable, what are the pay/benefits for therapists?
Clinical Psychologist $90-$115K base plus $5K plus stock options (Medical and Dental benefits)
1099 Psychiatrist - $250/hr at 8-10 hours per week.
1099 PMHNP - $100-160/hr up to 8 hours
Little Otter is a newer child mental health platform that seems to be doing quite well. They’re not a cheap service but they seem to pay their clinicians at a pretty good rate. It’s also great to see a mental health company led and cofounded by someone with such domain expertise. With how new Little Otter is, decent paying clinical roles and salaries up to $200,000 for engineers, the venture capital funding they received is possibly supporting a large number of roles at the company. With a goal to be in all 50 states by 2023, watch for Little Otter’s next fundraising round and future growth rates.
Their business model is slightly unfortunate. With discounts for buying bulk numbers of sessions, families are incentivized to purchase packages but then lose out if it’s not needed or not the right fit after a couple of sessions.
Little Otter uses Facebook Pixel both on their marketing website and during the account creation process on their app.littleotterhealth.com website. Pixel is tracking "Page View" and "Button Clicks".