What You Ought to Know:
– Quartet acquires InnovaTel Telepsychiatry, a supplier of digital psychological healthcare companies with a differentiated experience in treating complicated situations.
– The partnership lays the muse for a complete, nationwide answer to assist all folks — together with these with complicated wants — and focuses on velocity to high-quality psychological well being care.
Quartet Well being, a tech-enabled psychological well being care firm that works with well being plans, methods, and supplier teams to ship velocity to high quality look after all introduced the acquisition of InnovaTel Telepsychiatry, a supplier of digital psychological healthcare with a differentiated experience in treating complicated situations, at present introduced their determination to accomplice to assist hundreds of thousands of individuals nationwide get velocity to high quality psychological well being care. The acquisition of InnovaTel is Quartet’s subsequent step to advance its new strategic route that was introduced final week.
Acquisition Affect for Quartet
Via this acquisition, Quartet will develop market-leading care supply capabilities to enrich its current ecosystem of high-performing clinicians who apply in-network on behalf of medical insurance plans. InnovaTel will even increase its attain to serve members of well being plans and methods nationwide by way of this partnership. Over time, the 2 firms will increase their digital care supply capabilities, with an preliminary concentrate on offering well timed and high-quality entry to look after these with a critical psychological sickness.
To this point greater than 300,000 folks throughout the nation — throughout Medicaid, Medicare Benefit, and business insurance coverage — have come to Quartet to entry high quality care. Along with care navigation groups that present high-touch, white-glove assist to sufferers who need it, Quartet’s refined information and analytics allow its SmartMatch know-how to seamlessly route sufferers to the care that’s most applicable for them, together with in-network psychological well being care professionals nationwide. The deep concentrate on supporting and enabling psychological well being clinicians — together with these on employees with InnovaTel — will enable Quartet to enhance velocity and high quality for sufferers throughout situations. On account of the acquisition, Quartet will scale to greater than 30 states by the tip of 2022.
“At Quartet, throughout this time of elevated demand, we’ve seen first hand the constraints of the system’s present capability,” stated Puneet Singh, CEO of Quartet Well being. “Knowledge reveals that 65% of psychological well being organizations have needed to cancel, reschedule, or flip away sufferers through the pandemic. By coming along with InnovaTel, we consider we are able to efficiently meet this elevated demand with a concentrate on velocity to high quality look after all.”
InnovaTel Background
As one of many nation’s leaders in digital psychiatric care supply, InnovaTel has 130 clinicians on employees, 51% of whom are prescribers and 27% of whom are clinicians of coloration. The corporate’s mannequin of working with group psychological well being facilities to get sufferers in-network psychological well being care has improved the capability to deal with sufferers with psychological well being wants by wherever from 5x to 10x. Greater than 50% of sufferers who InnovaTel serves have a critical psychological sickness.