Demand for mental health services has risen consistently over the past few years and is continuing to do so, largely as a result of pandemic-related challenges. In fact, Mental Health America reported a 500 percent increase from 2019 to 2021 in the number of individuals who completed its online screening in search of help with conditions like anxiety and depression.
The emergence of more virtual health solutions has been instrumental in ensuring this growing number of people receive the help they need. One such solution, Options MD, extends a helping hand to those seeking care for severe mental illnesses. The telehealth startup announced Tuesday a $2.35 million addition to its pre-seed round, bringing its total funding round to $3.8 million. Bread & Butter Ventures led the investment.
Options MD’s ultimate goal is to help save lives. Its platform is a tool people can turn to when mental health conditions grow in severity to the point that they become resistant to standard treatments. Options MD’s telehealth solution connects users to a clinical team to help them find a treatment that meets their particular needs.
The company’s founding team set out to create a virtual clinic that could deliver curated care to underserved patients who live with treatment-resistant conditions. Options MD was inspired by the founders’ personal experiences with depression as well as those of their family and friends.
“Instead of being incentivized to only offer one or two treatments, at Options MD, we believe care should be comprehensive and personalized,” Morgan Hewett, co-founder and CEO of Options MD, said in a statement. “Through our virtual platform, we are nurturing one of the country’s largest communities for treatment-resistant depression. We are focused on providing high-touch, high-quality care for this historically difficult-to-treat patient population.”
Specializing in treatment-resistant depression, or TRD, Options MD offers more than 200 treatments ranging from pharmacological protocols to evidence-based behavioral treatments, according to the company. Its solution assesses a person’s history with depression as well as their symptoms, lifestyle and overall health before scheduling a session with a psychiatrist.
“The average patient in Options MD’s community has suffered from chronic depression for 10 years, has already tried seven medications and is in a state of hopelessness by the time they access Options MD,” Dr. Carl Marci, medical advisor at Options MD, said in a statement. “By combining digital assessments with human interactions and advanced care planning, Options MD is in a unique position to make an impact on one of the most critical populations within mental health.”
Options MD is currently working to build out its solution. Its new injection of funding will help the company expand its clinical operations and medical research. Options MD also plans to enhance its clinical protocols.
