The Hemingway Report

The Hemingway Report, a weekly publication for mental health innovators. Welcome to The Hemingway report, the only publication for mental health innovators. Each week, we share the latest insights, news and trends for people building mental health solutions. We'll also share monthly Deep Dives, where we share the findings of our research on the industries most important topics. Interested in getting our weekly newsletters, subscribe at the link below 👇 https://lnkd.in/gwuDqrRq

Eight commercial trends shaping the mental health teach industry in 2024. We just wrote a deep dive on the state of the mental health tech industry and the trends that are moving it. We cover; 1. A turning point for digital mental health reimbursement 2. Valuations remain suppressed but capital markets are seeing a revival. Analysis of valuations and investment levels. 3. The platform-provider problem persists. 4. Capture rate becomes more important than ever 5. The platform wars escalate 6. New political leadership tempts regulation and system change 7. Demand shifts from access to quality 8. Profitable growth remains a core focus What other major commercial trends are you seeing impact the industry? Link below (available to THR Pro members). #MentalHealth #BehavioralHealth https://lnkd.in/gEZdF5Pd

Talkspace Q3 earnings breakdown... We cover; Financial highlights: the key metrics from Talkspace’s earnings release, how they hit a third consecutive quarter of profitability and revenue growth of 23% How they got here: Breakdown of what Talkspace did to deliver these results, including analysis of operating efficiency and sales and marketing efficiency. Capture rate: The single most important metric for Talkspace’s financial future and how they are addressing it. Customer acquisition at Talkspace: How Talkspace are approaching direct and referral partnerships to acquire new users and the challenges I see them facing. Retention and Engagement: Do Talkspace have a leaky funnel and what can they do to solve it whilst also doing right by patients? Question corner: Some open questions around patient impact, provider relations and product usage. https://lnkd.in/gH3hwg3d

Resilience Lab x Options MD acquisition... In this week's newsletter, we cover this fascinating deal. We get into; - The TLDR; my take on this deal and what it means for both companies - The Background: What you need to know about Resilience Lab and Options MD - The Deal: Deal breakdown and how it aligns with Resilience Lab’s strategic vision - The Future: What needs to happen to deliver real value from this deal (and some of the risks they’ll face) Read the full article here 👇 https://lnkd.in/gjBgnmwD

What happened in mental health last week? ⏺ Thriveworks acquired Synchronous Health, Inc. ⏺ YUNG Therapist Sidekick raise $825k in a pre-seed from AltaIR Capital and ULTRA.VC ⏺ Ommej raise €350K in a seed funding round. This is a really interesting company working on early identification and improved intervention by allowing children to more easily share their own stories. ⏺ Spring Health launched a new offering, focused specifically on supporting managers within organisations ⏺ Alma laid off 9% of staff ⏺ Indian therapy platform Lissun raises $2.5m ⏺ Mindful Health Solutions names Meghan Herwehe as new CEO ⏺ The Coalition for Mental Health Investment launched (well, it was actually two weeks ago but it's worth mentioning cos it's very cool! This is global alliance of stakeholders committed to catalysing the investment required to match the scale of global need in mental health and includes McKinsey & Company, Wellcome Trust, African Venture Philanthropy Alliance (AVPA), Clinton Global Initiative and Kokoro (All links in the comments) __ If you liked this and want insights on the mental health industry in your inbox every week, subscribe to The Hemingway Report newsletter 📩 #mentalhealth #behavioralhealth

In this week's edition of The Hemingway Report, we cover everything you need to know about paid ads for your mental health business. We gon through; - 𝐖𝐡𝐲 𝐩𝐚𝐢𝐝 𝐚𝐝𝐬 𝐚𝐫𝐞 𝐧𝐨𝐭 𝐣𝐮𝐬𝐭 𝐟𝐨𝐫 𝐠𝐫𝐨𝐰𝐭𝐡: How to use paid ads to accelerate your path to product market fit and prioritise your product roadmap - 𝐅𝐢𝐠𝐮𝐫𝐢𝐧𝐠 𝐨𝐮𝐭 𝐢𝐟 𝐩𝐚𝐢𝐝 𝐚𝐝𝐬 𝐟𝐨𝐫 𝐲𝐨𝐮: A framework to assess if paid ads are the right strategy for your MH product and business - 𝐏𝐚𝐢𝐝 𝐬𝐞𝐚𝐫𝐜𝐡 𝐝𝐞𝐞𝐩-𝐝𝐢𝐯𝐞: How Ours use paid search to drive growth, including deep dives on conversion rate optimisation - 𝐂𝐨𝐧𝐯𝐞𝐫𝐬𝐢𝐨𝐧 𝐫𝐚𝐭𝐞 𝐨𝐩𝐭𝐢𝐦𝐢𝐬𝐚𝐭𝐢𝐨𝐧: The key to successfully scaling paid ads. - 𝐂𝐀𝐂 𝐚𝐧𝐝 𝐋𝐓𝐕 𝐞𝐱𝐩𝐞𝐜𝐭𝐚𝐭𝐢𝐨𝐧𝐬: What’s a good CAC, how to know your LTV and what to do if you don’t - 𝐈𝐦𝐩𝐫𝐨𝐯𝐢𝐧𝐠 𝐜𝐚𝐬𝐡𝐟𝐥𝐨𝐰: Success in paid ads is about more than just CAC:LTV, we discuss the importance of cashflow and how to improve it - 𝐇𝐨𝐰 𝐦𝐮𝐜𝐡 𝐭𝐨 𝐬𝐩𝐞𝐧𝐝: A very common question, we discuss a framework for calculating that for your business - 𝐆𝐞𝐭𝐭𝐢𝐧𝐠 𝐩𝐚𝐬𝐭 𝐝𝐚𝐭𝐚 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬: Some of the regulatory challenges of running ads for a healthcare business and the product Ours built (and you can use) to stay compliant whilst maximising performance Thank you to Adam Putterman from Ours for collaborating on this. #MentalHealth #BehaviouralHealth Read the full report 👇 https://lnkd.in/ghHxB2Mh

Earlier this year, we released a report on understanding our mental health crisis. We wanted this to be a 101 guide to understanding the size and severity of mental health challenges and to highlight the areas of greatest need. Here are 6 of the top findings from the report: 1. Anxiety and depressive disorders have the biggest impact on our population, accounting for 47% of the total DALYs (Disability-Adjusted Life Years) of all mental disorders combined. 2. The problem is getting bigger at an alarming rate—the total burden of mental disorders increased by 66% from 2003 to 2023. This is driven by sharp rises in anxiety disorders (+74% from 2003 to 2023), depressive disorders (+46% from 2003 to 2023), and autism spectrum disorders (+379% from 2003 to 2023). 3. Unfortunately, mental health is a significant problem for young people (even more so than for adults). Almost one in three young people have experienced anxiety in the last 12 months. 4. There are significant differences between genders in young people, with young girls experiencing anxiety at almost twice the rate of young boys (41.3% vs. 21.4%) and depression at more than twice the rate of boys (19% vs. 8.8%). 5. Mental disorders are also more prevalent in minority populations, with significantly increased rates observed in LGBTQA+ communities (gender-diverse students report anxiety and depressive symptoms at over 10 times the rate of male, cisgender peers). 6. Early detection and treatment are critical—50% of all mental health problems are established by age 14, and 75% by age 24. __ For weekly articles on the latest in mental health, follow our newsletter (link in bio). #mentalhealth #behavioralhealth

Earlier this year, we released a report on understanding our mental health crisis. We wanted this to be a 101 guide to understanding the size and severity of mental health challenges and to highlight the areas of greatest need. Here are 6 of the top findings from the report: 1. Anxiety and depressive disorders have the biggest impact on our population, accounting for 47% of the total DALYs (Disability-Adjusted Life Years) of all mental disorders combined. 2. The problem is getting bigger at an alarming rate—the total burden of mental disorders increased by 66% from 2003 to 2023. This is driven by sharp rises in anxiety disorders (+74% from 2003 to 2023), depressive disorders (+46% from 2003 to 2023), and autism spectrum disorders (+379% from 2003 to 2023). 3. Unfortunately, mental health is a significant problem for young people (even more so than for adults). Almost one in three young people have experienced anxiety in the last 12 months. 4. There are significant differences between genders in young people, with young girls experiencing anxiety at almost twice the rate of young boys (41.3% vs. 21.4%) and depression at more than twice the rate of boys (19% vs. 8.8%). 5. Mental disorders are also more prevalent in minority populations, with significantly increased rates observed in LGBTQA+ communities (gender-diverse students report anxiety and depressive symptoms at over 10 times the rate of male, cisgender peers). 6. Early detection and treatment are critical—50% of all mental health problems are established by age 14, and 75% by age 24. __ For weekly articles on the latest in mental health, follow our newsletter (link in bio). #mentalhealth #behavioralhealth

Mental health headlines from the past week ... ⏺ The FDA announced approval of Cobenfy as a medication for schizophrenia ⏺ TikTok announces a collaboration with the World Health Organization to boost mental health awareness ⏺ Wyoming Medicaid becomes first state to cover Cognoa's Canvas Dx for early autism diagnosis ⏺ Indian mental health startup Lissun raises $2.5m ⏺ IPSOS survey reveals that Mental Health is now Briton's biggest health worry (above cancer and obesity) ⏺ Bradford Health Services acquires Lakeview Health to expand their addiction treatment services ⏺ UnitedHealthcare announced collaboration with Hazel Health to provide 1 million kids with school-based access to virtual mental health care services __ If you liked this and want insights on the mental health industry in your inbox every week, follow this page and subscribe to our weekly newsletter (link in our bio) 📩 #mentalhealth #behavioralhealth

In this week's report, we do a Deep Dive on Kooth Digital Health (North America). We discuss: - The Story of Kooth: There aren’t too many mental health tech companies that have been around for 23 years - H1 Earnings Breakdown: 181% revenue growth + software margins - Peer Review: How Kooth compares to other public mental health companies - California Dreamin’: The mega-contract Kooth landed with California and how it could make or break them - Expectations: Should we expect this growth and profitability to continue for Kooth __ If you've read the piece, let me know what you think about Kooth in the comments. Always keen to hear people's views. https://lnkd.in/gMsSYDu3