Hoping to Avoid Pear’s Fate, Behavioral Health-Focused DTx Companies Look to Employer Market (Behavioral Health Business):
The Digital Therapeutics (DTx) industry is at a crossroads after one of the most prominent companies in the space, Pear Therapeutics, filed for bankruptcy earlier this year. The turmoil comes after DTx began catching on in the behavioral health field.
Despite Pear’s setback, some believe there’s now a chance for other digital therapeutics companies to learn from their competitor’s mistakes and pave the way for DTx. One of the most challenging questions for the burgeoning sector remains payment strategy.
… While some digital therapeutics have FDA clearance, there is a movement away from getting these products covered like a pharmacy benefit. Instead, many companies are looking to make deals with the employer market.
“The employer route … has been incredibly successful and is an exciting pathway in an era where the workforce is changing their demands and expectations of their employer,” Goldsack (Jennifer Goldsack, CEO of the Digital Medicine Society) said.
Going to the employer market also helps boost adoption, according to Wasden (Chris Wasden, chief strategy officer at Twill), because employers are motivated to promote the products.
News in Context:
- Pear Therapeutics loses 97% of its market capitalization since 2021, explores strategic alternatives
- Employer-focused meditation program eMindful acquired by digital behavioral change firm Wondr Health
- Calm raises $75 million, expands into corporate mental health and wellness
- Artificial Intelligence (AI) meets Cognitive Behavioral Therapy (CBT): Wysa raises $20M to scale up mental health chatbot
The post Beyond the clinic: Can digital therapeutics (DTx) help Boost Mental Health in the workforce at scale? appeared first on SharpBrains.
This post first appeared on Brain Fitness And Cognitive Health Authority: Market Research And Advisory Services | SharpBrains, please read the originial post: here
