Talkspace, an online therapy service which strives to make therapy accessible to everyone, continues to pick up speed, and currently claims to have one million users. Offering an alternative to traditional therapy, Talkspace allows clients to connect with a therapist through video chat or messaging. After more than five years in business, Chief Executive Officer, Oren Frank, says Talkspace generates revenue in the tens of millions.
The company recently hired a chief medical officer. Neil Leibowitz, former United Health senior medical director became a part of the Talkspace team in April of 2018. This move allowed business to expand as prescribing medicine through the app became a possibility. However, state and federal regulations limit prescription to the video tool. Watch Oren Frank on Youtube.
Frank hopes to build up business in the corporate world as employers are increasingly recognizing the importance of the mental health of their employees. Depression and anxiety, which has increased among millennials, has a negative effect on productivity. Therefore, providing employee access to a service like Talkspace is beneficial to companies. Frank anticipates partnerships with businesses will make up half of Talkspace’s revenue by 2019.
Oren Frank uses his Twitter account to further his positive mental health messages. Frank shares articles, resources, and books that may be of interest to anyone struggling with a mental health issue. For example, Frank alerted followers of the mental health benefits of disengaging from social media by sharing a recent study,
Recently, Oren Frank tweeted a link to a mental health success story whose author concludes that “mental health shouldn’t be a luxury for the rich”. Obviously, Frank agrees and is dedicated to the task of erasing stigmas and making access to mental health resources a priority. As Talkspace continues to grow, more and more people will be able to improve their state of mind by using this beneficial service.