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Published on:

29th Feb 2024

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. 

Heard Website

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.

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About the Podcast

Selling the Couch
Impact + Income Beyond The Therapy Room
With over 1.5 million downloads, Selling the Couch is a top podcast for mental health private practitioners who think differently.

Psychologist Melvin Varghese interviews successful therapists, top entrepreneurs, business/marketing, productivity, and social media experts.

You'll learn how therapists get referrals, make money, work through fears, and how they've stopped "trading time for income."

Melvin also shares the lessons as he grows his impact + income beyond the therapy room (podcasting, video, online courses, masterminds, investing, etc) and the tips, tools, and tech he uses to grow STC from a single-person business to the CEO of a 5-person 100% remote team.

You get bite-sized and highly actionable tips to guide your private practice and entrepreneurial journey.

About your host

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Melvin Varghese, PhD

Hi. I'm Melvin. I'm a psychologist, girl dad, and online creator living in Philadelphia, PA.

In 2014, I began to think about how to use our therapist skillset in different realms besides clinical work (e.g., podcasting, consulting, online course creation, writing, etc).

This allows us to serve others on larger scales while diversifying our income beyond 1 to 1 work.

I make podcasts and videos about business, tech, productivity, and lessons I'm learning from becoming the CEO of a lean, mean 5 person 100% remote team (we're not really mean..it just rhymed =P).