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359: What Therapists Should Know As Billions Are Invested In Mental Health Startups
Today’s session covers a topic that many clinicians are pondering. Many, like me, are having conversations with themselves in their heads about the available opportunities and the most efficient and ethical ways not to be left behind as technology presents new options in our field. The issue is how we can navigate the world of mental health tech startups that are available to join us to support our good work. Examples of what these startups provide are electronic health records, website design, marketing, and more. The truth is that the pandemic changed everything and catapulted the tech startup world into the range of billions of dollars. Don’t miss my enlightening conversation with today’s guest!
Our Featured Guest
Michael Fulwiler
Michael Fulwiler is Head of Brand Marketing at Heard, a company that assists therapists with bookkeeping and financial needs. I’ve come to rely on Mike’s expertise as a good friend as I navigate the aspects of STC, trying to be a protector of our field while staying in alignment with my values. In this session, Mike and I discuss the mindblowing numbers around the multitude of mental health tech startups and how clinicians can be informed about which ones are most likely to succeed or fail. We also discuss the vitally important topic of client data privacy and the top three considerations we should have before signing up for a product or service.
You’ll Learn:
- How to view tech startups in the mental health industry in terms of “headwind” and “tailwind” tendencies since the COVID-19 pandemic
- What the data shows about tech startups: 90% will fail!
- Why the big risk also comes with big opportunities in the startup world
- What happens when a clinician contracts with a mental health tech startup
- Why client data privacy is a valid concern when working with a tech startup (Hear Mike’s advice about watching out for red flags!)
- Top three considerations for a therapist about a tech startup:
- How they handle the data
- Whether or not there is a mental health professional on their team who helps with decisions and development
- How compensation for therapists is structured
- Mike’s advice about doing your due diligence when contacted by a tech startup
- An overview of Mike’s work and mission at Heard and what they provide for therapists
Resources:
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Mentioned in this episode:
Need Community Support? Join the Mastermind
If you are a seasoned therapist, and you are wanting to move from clinical to online course income, we actually have a specific mastermind for therapists who are doing this. We meet together to build and grow and scale our online courses. You can learn more about that mastermind over at https://sellingthecouch.com/mastermind.
Thrizer
Thrizer is a payment platform designed for private pay therapists, built to help clients automatically tap into their out-of-network benefits and save on therapy upfront. Thrizer can help instantly verify clients’ out-of-network benefits ahead of a client’s first session, so they get the transparency upfront on their out-of-pocket costs. When therapists charge their clients via Thrizer, an out-of-network claim is automatically submitted for them, so no need to deal with superbills. Best part? After meeting their deductible, clients have the option to just pay their co-insurance portion for sessions while Thrizer floats the rest of the therapist’s fee and waits for reimbursement on the client’s behalf, helping clients afford therapy upfront. Please visit sellingthecouch.com/thrizerand enter the promo code “STC” and receive waived fees for your first $2500 in charges.
