Talkspace, a video chat service that allows users to interact with a licensed therapist from the comfort of their own home and for a fraction of the price of a face to face meeting is announcing that CEO Oren Frank has brought in senior medical director at UnitedHealth Neil Leibowitz to offer his expertise to the company. The move is thought to be in reaction to rumors about Talkspace seeking to go IPO or Initial public offering. Talkspace, which offers an incredibly low price of $79 for weekly service said that the company has now signed up their 1 millionth user after only five years in business. Find out more about at Oren Frank at Huffpost.
CEO Oren Frank stated that Talkspace is now generating tens of millions of dollars per year and the introduction of Neil Leibowitz will only help to enhance those margins. An unknown benefit of the introduction of Leibowitz is that the companies therapist are now allowed to prescribe medications to their users. This, however, will be conducted under federal and state laws that will only allow this practice if the prescription is done through video chats and not via text messages. On the question, if any type of medication will be banned such as Opiads, Oren Frank stated that there are no plans at the time to ban any particular medication.
Neil Leibowitz also brings a plethora of experience as a former insurance executive for large companies. Oren Frank commented that Neil would hold a prominent position in the companies corporate functions, as well as they, seek to grow the company by offering as a wholesale their service to employers across the country. Neil Leibowitz states that mental illness is a very real thing and the negative effects that can cause on business revenue are real as well, therefore he encourages employers to seek help such as what Talkspace offers to their employees.
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