About Modern Health
Modern Health operates as a mental health benefits platform for employers. It covers mental well-being needs through both evidence-based technology and professional support from a coach or therapist. It was formerly known as Modern Healthcare. The company was founded in 2017 and is based in San Francisco, California.
ESPs containing Modern Health
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The corporate wellness platforms market offers solutions to improve the physical and mental health of employees in the workplace. These platforms address a range of issues, including stress, burnout, mental illness prevention, and cost containment for mental health services. Vendors offer personalized benefits that address common barriers to improved health and wellness, such as time, equipment, a…
Modern Health's Products & Differentiators
Modern Health is a comprehensive mental health platform available through iOS and Android mobile application or desktop, offering personalized, preventative care the moment it's needed. When users log into Modern Health the first time, they are given a short wellbeing assessment – based on the WHO-5, to identify their mental health needs. Based on this assessment and user preferences, they are triaged to the appropriate level and format of care.Modern Health offers users personalized stress management support, digital programs, an international network of certified coaches, and licensed therapists available in 35 languages to deliver wellness across a broad range of individual needs.
Research containing Modern Health
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Modern Health in 4 CB Insights research briefs, most recently on Sep 13, 2023.
Expert Collections containing Modern Health
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Modern Health is included in 7 Expert Collections, including HR Tech.
The HR tech collection includes software vendors that enable companies to develop, hire, manage, and pay their workforces. Focus areas include benefits, compensation, engagement, EORs & PEOs, HRIS & HRMS, learning & development, payroll, talent acquisition, and talent management.
Unicorns- Billion Dollar Startups
Digital Health 50
The most promising digital health startups transforming the healthcare industry
The digital health collection includes vendors developing software, platforms, sensor & robotic hardware, health data infrastructure, and tech-enabled services in healthcare. The list excludes pureplay pharma/biopharma, sequencing instruments, gene editing, and assistive tech.
Companies developing, offering, or using electronic and telecommunication technologies to facilitate the delivery of health & wellness services from a distance. *Columns updated as regularly as possible; priority given to companies with the most and/or most recent funding.
Latest Modern Health News
Dec 4, 2023
Complicating matters is that there’s a growing shortage of clinicians in the United States. “There has been a widening gap between the demand for healthcare services and the supply of clinicians to deliver that care,” Alexi Nazem , co-founder and CEO at Nomad Health , tells PYMNTS for the “Matchmakers” series. “There are many causes of this, but it primarily boils down to demographics. We have an aging population in the United States, and people who are over 65 consume three times as much healthcare as people under the age of 65. People over the age of 75 consume four times as much healthcare,” Nazem said. The care delivery shortage crisis has only intensified over the years, with the need for skilled employees growing substantially. The COVID-19 pandemic further accelerated this tension. “Meanwhile, on the supply side, there aren’t enough nurses and doctors and other healthcare professionals to deliver all of that increased need of care,” Nazem said. “They are also subject to demographics. A huge portion are expected to retire within the next couple of years, about 20%. There’s an increasing burnout crisis. So, the need for this contingent labor services to help cover gaps has grown substantially,” he added. To help meet this growing need, the traditional offline model of people-powered recruiting agencies has given way to a more efficient and scalable online marketplace approach. Navigating the Healthcare Staffing Crisis In an industry historically characterized by information asymmetry, Nazem emphasized the importance of aggregating data about clinicians, their qualifications, availability and job preferences, as well as details about job opportunities, pay packages and facility requirements. This wealth of information helps informs the creation of truly transparent marketplaces, revolutionizing the way clinicians connect with job opportunities. “There’s a lot of smart operators, and more and more smart money in the space,” Nazem said. Transitioning from traditional telephone-based recruiting to a self-service online experience, today’s platforms, like Nomad Health, align with the expectations of users accustomed to seamless online interactions in various aspects of their lives, he added, noting that “when you combine self-service, technology driven processes and transparency and data, you’re actually able to create a really scaled marketplace,” enabling clinicians and employers to find each other more effectively. And as with digitally driven businesses, competitive edges lie in the amount of quality proprietary data organizations have at their disposal. “If you’ve played your cards right and set things up properly, you’re also collecting a tremendous amount of very useful data,” Nazem said. The continuous accumulation of data enhances algorithms, contributing to competitive advantages and driving differentiation by using data science to drive better matches, build improved features and enhance overall efficiency. “As the algorithms get smarter, the competitive separation increases,” Nazem said. The Role of Generative AI in Healthcare’s Future The rapid evolution of the healthcare industry poses both exciting opportunities and significant challenges. The volatile nature of the market, characterized by both massive growth and contraction, demands continuous adaptation. Within this context, the integration of generative artificial intelligence (AI), specifically large language models (LLMs), has been a game changer for organizations operating within the healthcare space. “Why people come to a marketplace is to transact… much of our journey, both from a self-service and automation standpoint, and from a data collection and optimization standpoint, has been about serving that goal. And so being able to better identify the functional matches, who is going to be a great person to fill this job? What is a great job for this person? Who is more likely to take this job? Who is more likely to get an offer for this job?” Nazem said. “We’ve built a very flexible modular modern technology platform. And what that has allowed us to do is to be ready to engage with the newest cutting-edge technology and take advantage of those things,” he added. Removing obstacles between providers and patients remains a driving force, and Nazem said that because Nomad Health has been able to collect “a lot of really high-quality data,” when LLMs are commercialized, his platform is ready take advantage of them. “We have a number of [AI] products in production,” he added. And as the healthcare industry continues to undergo significant transformations, the future of healthcare staffing is poised to shaped by those who tap technology, data and a user-centric approach. Recommended
Modern Health Frequently Asked Questions (FAQ)
When was Modern Health founded?
Modern Health was founded in 2017.
Where is Modern Health's headquarters?
Modern Health's headquarters is located at 650 California Street, San Francisco.
What is Modern Health's latest funding round?
Modern Health's latest funding round is Series D.
How much did Modern Health raise?
Modern Health raised a total of $168.06M.
Who are the investors of Modern Health?
Investors of Modern Health include Kleiner Perkins Caufield & Byers, Founders Fund, Felicis, Battery Ventures, Lachy Groom and 14 more.
Who are Modern Health's competitors?
Competitors of Modern Health include Likeminded, Dialogue, Therify, Headspace, Twill and 7 more.
What products does Modern Health offer?
Modern Health's products include Modern Health.
Who are Modern Health's customers?
Customers of Modern Health include Hubspot.
Compare Modern Health to Competitors
Lyra Health provides mental health benefits for employees and dependents. It uses matching technology and a digital platform that connects companies and their employees plus spouses and children to therapists, mental health coaches, and personalized medication prescribing. It was founded in 2015 and is based in Burlingame, California.
Spring Health provides personalized mental healthcare for employees' well-being. It uses an assessment and machine-learning technology to understand all of the conditions of person may be experiencing and uses those results to match them to a care plan personalized to their needs. Spring Health was founded in 2016 and is based in New York,New York
Unmind operates as a workplace mental health platform. The platform offers scientifically-backed tools and training for healthier, happier, more human organizations.
Twill provides digital therapeutics and care delivery models focusing on mental and physical health. It partners with enterprises, pharma companies, and health plans to create new products to help support and manage specific mental and physical conditions. The company was formerly known as Happify Health. It was founded in 2012 and is based in New York, New York.
Headspace develops an online membership platform offering guided meditation and mindfulness. It operates a business-to-business (Headspace for Work) to offer its mindfulness products and services to sectors such as government entities, non-governmental organizations, and National Health Service (NHS) to offer digital mental health tools. The company was founded in 2010 and is based in Santa Monica, California.
Calm operates as a mental wellness brand in the health and wellness industry. The company provides a digital platform for sleep, meditation, and relaxation, aimed at helping users manage stress, sleep better, and live healthier, happier lives. It primarily serves the corporate sector providing mental fitness and resilience as an employee benefit. It was founded in 2012 and is based in San Francisco, California.