With $5 billion of investment in 2021, digital mental health is a startup hotspot, Behavioral Health Business reports.
However, the sheer volume of offerings can make the sector difficult for enterprise customers to navigate, according to industry insiders speaking at the American Telemedicine Association conference Monday.
“Most employers are bombarded with tons of point solutions,” Chris Wasden, chief strategy officer at digital therapeutics developer Happify Health, said.
Consolidation and a fast-paced M&A landscape isn’t all positives, though. Tim Andrews of digital health compliance organization ORCHA warned that too much M&A could lead to unintended consequences.
“What we need to be careful of is that we don’t take the number of products too low, and you lose innovation, and you lose choice and all the rest of it,” Andrews said. Read more.
