The two industry leaders join forces to bring quicker access, improved experience, and evidence-based care to all who need mental health care
NEW YORK and ERIE, Pa., Dec. 8, 2021 /PRNewswire/ -- Quartet Health, a tech-enabled mental health care company that works with health plans, systems, and provider groups to deliver speed to quality care for all, and InnovaTel Telepsychiatry, a provider of virtual mental healthcare with differentiated expertise in treating complex conditions, today announced their decision to partner to help millions of people nationwide get speed to quality mental health care. The acquisition of InnovaTel is Quartet's next step to advance its new strategic direction that was announced last week.
Both companies were founded in 2014 and share a mission to help people quickly and seamlessly obtain quality mental health care during times of need. Through this acquisition, Quartet will develop market-leading care delivery capabilities to complement its existing ecosystem of high-performing clinicians who practice in-network on behalf of health insurance plans. InnovaTel will also expand its reach to serve members of health plans and systems nationwide through this partnership. Over time, the two companies will expand their virtual care delivery capabilities, with an initial focus on providing timely and high-quality access to care for those with a serious mental illness.
To date more than 300,000 people across the country — across Medicaid, Medicare Advantage, and commercial insurance — have come to Quartet to access quality care. In addition to care navigation teams that provide high-touch, white-glove support to patients who want it, Quartet's sophisticated data and analytics enable its SmartMatch technology to seamlessly route patients to the care that's most appropriate for them, including in-network mental health care professionals nationwide. The deep focus on supporting and enabling mental health clinicians -- including those on staff with InnovaTel -- will allow Quartet to improve speed and quality for patients across conditions. As a result of the acquisition, Quartet will scale to more than 30 states by the end of 2022.
"At Quartet, during this time of increased demand, we've seen first hand the limitations of the system's current capacity," said Puneet Singh, CEO of Quartet Health. "Data shows that 65% of mental health organizations have had to cancel, reschedule, or turn away patients during the pandemic. By coming together with InnovaTel, we believe we can successfully meet this increased demand with a focus on speed to quality care for all."
As one of the nation's leaders in virtual psychiatric care delivery, InnovaTel has 130 clinicians on staff, 51% of whom are prescribers and 27% of whom are clinicians of color. The company's model of working with community mental health centers to get patients in-network mental health care has improved the capacity to treat patients with mental health needs by anywhere from 5x to 10x. More than 50% of patients who InnovaTel serves have a serious mental illness.
"As a longtime clinician and provider of care, I know first-hand the systemic challenges that people face everyday across our country when they need to quickly access mental health care," said Jonathan Evans, clinical psychologist and InnovaTel's President and CEO. "We are thrilled to come together with Quartet Health to build a comprehensive, nationwide solution to help all people - across insurance types and clinical needs - obtain timely access to high-quality care. Quartet's sophisticated data and analytics and technology infrastructure will provide the framework for InnovaTel to scale quickly to communities nationwide, with a continued focus on those with the most complex needs."
Unique to their shared approach is the focus on connecting all people to "quality care,'' as measured by Quartet's platform and defined across four areas:
Over time, the companies will leverage these four measurement domains to develop actionable insights about the quality of care mental health clinicians deliver, and then reward high-performing clinicians through value-based payment arrangements.
About Quartet Health
Quartet is a leading tech-enabled mental health company that works with health plans, systems, and provider groups to deliver speed to quality mental health care for all. Through sophisticated data and analytics, along with personalized services, Quartet exists to advance quality care as defined by four measures: speed to care, seamless patient experiences, improved health outcomes, and affordability. To date, more than 300,000 patients have connected with Quartet for mental health care, 80% of which are referred from primary care. The company is backed by venture funding from top investors including Oak HC/FT, GV (formerly Google Ventures), F-Prime Capital Partners, Polaris Partners, Deerfield Management, Echo Health Ventures, Centene Corporation, and Independence Health Group.
About InnovaTel Telepsychiatry
InnovaTel Telepsychiatry is a clinically-led mental health as a service (BHaaS) platform dedicated to improving mental health outcomes for individuals and communities by providing timely access to a national network of qualified psychiatrists, psychiatric nurse practitioners, and licensed clinical social workers. The company is backed by Canyon Healthcare Partners, a private equity firm founded by Christopher D. McFadden and invested in companies that drive innovation in healthcare delivery. InnovaTel was named one of Modern Healthcare's 2021 Best Places to Work in Healthcare. The company is licensed to provide care in all 50 states nationwide. For more information, visit www.InnovaTel.com.
SOURCE Quartet Health
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