SilverCloud Health

Description

Around the world, mental health services are characterized by high costs and low availability. SilverCloud is an outcomes-focused online mental health and wellbeing support platform. The platform has been designed and developed for over a decade of academic and clinical research into online delivery of mental health. It enables the delivery of clinically proven, evidenced based content, programs and support within the area of mental health (depression, anxiety, stress, etc.) and long term/chronic illness care (diabetes, CVD, cancer, etc.).

SilverCloud enables its customers to provide their clients with online psychotherapy that is clinically effective, proportionate to their clinical need, tailored to their personal circumstances, and scalable – rather than on a one-to-one basis.

According to the CDC, 1 in 4 people worldwide will have a clinically significant mental health problem in any given year. The U.S. spends $26 billion annually on depression treatment alone, yet about 50 percent of patients are not treated due to high costs, a global shortage of clinicians, and the stigma associated with mental health issues. Psychotherapy is a key element of treatment and is widely reimbursed. Access is via self-referral, or through a primary care, hospital or a corporate referral. However, services are expensive to deliver, at about $1,150 per episode of care, and difficult to access. 60 percent of U.S. counties have no psychotherapy services.

Clients access SilverCloud programs according to their clinical need and circumstances, and outcomes are measured using validated patient-reported screening tools and techniques. Randomized clinical trials have been published in peer-reviewed journals showing outcomes equivalent to one-to-one therapy. Since 2012, over 50,000 patients have been treated using the platform at a fraction of the costs of traditional therapy.

SilverCloud’s customers are primarily payers, providers and self-insured employers, who buy the platform to reduce costs and improve outcomes. Key customers include SUMMA Health (USA), over 35% of the NHS (UK), Ministry of Defense (UK), Anna Freud Centers (UK), and Anycare (Germany, Switzerland, Austria). Since its foundation in 2012, SilverCloud has more than doubled its sales each year and is on track to achieve over $4 million in the current financial year.

Company News

SilverCloud Health Raises $8.1M in Series A

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DateJan 18, 2017
Digital Health company SilverCloud Health, the leading provider of evidence-based online mental health and behavioral healthcare solutions, announced that it has raised $8.1 million in Series A funding.