Mental health issues such as anxiety in addition to depression continue to be on the rise across the world. Being a global leader in offering online therapy for patients with such illnesses, Talkspace announced that it’s serious about hiring additional employees and has recently brought on board Neil Leibowitz, who initially worked at UnitedHealth as an executive health director. This addition comes as the online therapy provider shapes its enterprise by transforming into a potential IPO.
Regarding the new appointment of an executive, Oren Frank, the CEO of Talkspace stated to CNBC that as a company that provides a $ 79 weekly service for having a talk with a therapist online or approximately $ 49 service for texting a mental healthcare professional, the firm recently hit 1 million subscribers after over five years of serving in business. He added that the organization is generating millions of dollars in profits. Read more about Oren Frank at cnbc.com
The primary focus of the organization is providing mental healthcare to patients. With Leibowitz on board, Talkspace’s healthcare practitioners will soon be prescribing medicine particularly when it’s needed. Independent consultants who also serve as psychiatrists will be in a position to prescribe medication and therapy via the created video tool because of the federal regulations. Leibowitz also added that Talkspace hasn’t decided if there are medications it will avoid prescribing, for instance, opiates. Being a former insurance executive, Mr. Leibonwitz is bringing on corporate board experience, which Oren Frank believes will represent half of the organization’s revenue. The organization was getting into traction in the same area because of a partnership with Magellan Health.
Oren Frank is a firm believer in the influence of innovation to a better society. Born and raised in Israel, he developed a strong career background in marketing as well as advertising. He resides in New York and is the head cheerleader of Talkspace.
Learn more: https://www.crunchbase.com/person/oren-frank