Virtual IOP with Charlie Health

 

Charlie Health (charliehealth.com)


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

Charlie Health is a virtual-IOP mental health organization founded in Montana in 2020. Charlie Health works with 12-28 year olds who need therapy more than once per week. If you're looking for a team full of clinicians, Charlie Health is it. Charlie Health has raised $850,000 in a promissory note according to SEC documents.

What's their mission? 
Charlie Health was founded to bring access to high-quality evidence-based care to youth and their families everywhere.

Who founded the company? Are their clinicians on the executive team? 
Charlie Health was founded by Carter Barnhart and Dr. Caroline Fenkel, DSW, LCSW. Before founding Charlie Health, Carter worked her way up to the C-suite at another prominent mental health organization, Newport. According to the Charlie Health website, Carter started working at Newport a couple years after being at Newport herself. Carter's experience with mental health has led her to a very purposeful career serving the space. Dr. Caroline Fenkel has held a variety of roles from board member, to the executive director, to therapist across several organizations in the past decade. 

Not listed on their site, but on LinkedIn, Charlie Health's Head of Strategy Justin Weiss is also presented as a cofounder. Justin worked as an analyst at a number of financial institutions prior to Charlie Health. He also previously cofounded ClearDigs for the real estate industry.

What's the business model? How does this company make money? 
Charlie Health works with major insurance plans, even including Medicaid.


What does one get for paying that price? 
Charlie Health's admissions team is available 24/7. After learning about the program, Charlie Health schedules a consultation to learn more about your nedes, discuss a personalized treatment plan, and assign a primary therapist who specializes in those needs. That therapist will be with you throughout your time with Charlie Health and you'll be connected with groups of peers going through similar challenges. Charlie Health's multi-prong approach means not only groups, but individual and family sessions as well

What is the cancellation policy? 
Not applicable to Charlie Health.

If applicable, what are the pay/benefits for therapists? 
According to Behavioral Health Business, about 60% of Charlie Health's employees are clinicians, and about 60% of the clinicians are employed with the rest being contracted. More than 90% of Charlie Health's workforce is remote, they offer $1,200 in annual wellness stipends and ongoing education and training opportunities. They also offer medical, dental, vision coverage, PTO, and 401(K) matching options.

Every clinician on the Charlie Health team spends a full week (40 hrs) with the clinical onboarding team before meeting with clients. According to a Glassdoor review, clinicians are expected to see 28 clients per week.


The Review 
Being founded in 2020 and already having 500 employees is explosive growth and according to employee reviews they seem to have done a pretty good job managing. The breadth of clinicians on the leadership team and across the company seems to speak volumes. In addition to who we've already mentioned, Charlie Health's Chief Compliance Officer is a clinician, they have two medical directors, and several programming directors are all clinicians. Many of the Glassdoor reviews simply put there are no cons they think of. Every once in a while someone mentions the expected struggle of working in a startup environment but it seems Carter is doing a great job leading this company and culture. On 29 Google reviews, Charlie Health has 4.6 stars, an extremely high rating for the mental health industry.  

Charlie Health's privacy policy also seems in good order. They do use Facebook Pixel on their website.

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