CCBT Companies: Competitive Analysis

Part
01
of three
Part
01

CCBT: Competitive Analysis Part 2

The organizations SilverCloud, Magellan Health, Talkspace, Health Rythms, MyStrength, Headspace, and Teladoc have competitive advantages over each other ranging from readily available funding, decades of research and global reach. Their strengths include affordability, convinience and awards won. They have different weakness ranging from lacking availability outside the US to expensive price points.

A detailed report can be found in the attached spreadsheet on rows 11 -17, columns B - E.
Part
02
of three
Part
02

CCBT: Competitive Analysis Part 1

One of AbleTo's strengths is its library of published clinical research, and its weakness is the delay between requesting a call and receiving a call. For Amwell, one of its strengths is that its app is powered by American Well, the top platform for telemedicine services, and a weakness is that its price point may still be out of the reach of individuals without insurance. Calm's strength is its rapid growth despite being an early entrant into the mental health field, and its weakness is overcoming the stigma of mental and behavioral health services. This spreadsheet contains the details of our findings.

ABLETO

TECHNOLOGY SPECIFICS
AbleTo provides deep insights on behavioral health, using an integrated proprietary platform. Insurers contract with AbleTo to provide individual behavior health care services, which the company achieves by engaging individuals in a personalized call or video chat with a professional therapist and coach.
COMPETITIVE ADVANTAGE
AbleTo is a market leader for technology-based behavioral health care. It recently purchased Joyable, an app for cognitive-behavioral therapy (CBT).

STRENGTHS
AbleTo has numerous published research articles which show an improvement in clinical outcomes by 50% and a 48% decrease in hospital stays. Additional reports indicate improvements in self-care, behavioral health, and chronic pain due to the company's techniques.

WEAKNESSES
For clients to access AbleTo's services, they usually have to initiate a call through an online portal, then wait for a call back, which is not ideal in the case of an emergency. AbleTo uses a screening call to explain their services, confirm insurance coverage, and determine if the individual is eligible. Currently, it is unclear if an individual can contract with AbleTo directly.

AMWELL

TECHNOLOGY SPECIFICS
Amwell is an app that offers users an online platform to consult with physicians for urgent care, therapy, and psychiatry. American Well powers the app.
COMPETITIVE ADVANTAGE
American Well is a top telehealth platform that provides services for health systems, plans, employers, and physicians. Individuals enjoy convenience, easy, and quick consultation with doctors, as they get to book appointments and communicate with them virtually. AmWell is ranked as one of the best telemedicine apps by Kays Harbor Technologies.

STRENGTHS
Amwell's strengths include that it eliminates the need for some urgent care visits, basic virtual consultations usually come at a low cost, and it was selected as the best overall for telemedicine services in 2019 by TopTenReviews.
WEAKNESSES
Amwell's low points include that services other than a basic consultation can be expensive, and some insurers do not cover telehealth services.

CALM

Tech Specs
Calm is an app that provides hundreds of relaxation programs to help ease the mind of its intermediate and advanced users.

COMPETITIVE ADVANTAGE
Calm promotes meditation and mindfulness, and it is partners with celebrities such as Matthew McConaughey and Ashton Kutchner. It successfully raised $116 million in four funding rounds, despite being an early entrant in the mental wellness digital market.
STRENGTHS
Calm was the top health and fitness app in Canada for March 2019, with 8,465 downloads. It has over 40 million downloads globally, proving that it is an effective medium for sleep, relaxation, and meditation. The society's negative conception of mental health issues is also beginning to take a more positive turn. Calm is currently valued at $250 million.

WEAKNESSES Calm's low points include the bias toward the physical body in fitness instead of mental fitness. Also, some of its content does not resonate with users who are unfamiliar with mindfulness and meditation.

Part
03
of three
Part
03

CCBT: Competitive Analysis Part

The companies Mindcare, Owl Insights, Regroup, CogCubed, CureApp, Mentegram, Learn to Live, and MDLive, have competitive advantages over each other which vary from having the most extensive library of evidence-based measures in the health industry to having the most extensive library of industry standard tools and questionnaires. Their strengths include, as in the case of CogCubed, being 15% more accurate in diagnosing ADHD than existing devices on the market; and helping a single clinician to realize an extra $50,000 in insurance reimbursement revenue annually, as in the case of Mentegram. There are also many weaknesses throughout the companies, but most prominently, companies do not offer enough treatments/treatment options.

In rows 18-25 of the attached spreadsheet, we have provided the technology specifics, competitive advantages, strengths, and weaknesses of the companies mentioned above.
Sources
Sources

From Part 02
Quotes
  • "American Well wants to set up every virtual visit with the appropriate clinical context from a variety of different sources so physicians can treat patients as if they were in the same room together."
From Part 03