Stephanie Strong is the CEO of Boulder, which has been blazing a trail in the virtual treatment of substance use disorder. She left venture capital to start the company and has been steadily building its capabilities and reach. We talked in depth about how Boulder helps its patients, who are predominantly on Medicaid and in general tend–as you’d expect–not to have easy circumstances. One remarkable thing Stephanie has done is spearhead resistance to the DEA’s proposal to ban telehealth prescribing of the anti-addiction drug Buprenorphine. And it looks like that campaign has been successful. that alone will save many lives. Watch this interview of a young female CEO who is making a real difference, and totally impressing me in the process—Matthew Holt
Inside Boulder Care’s $36 Million Series B & Scaling Telehealth Addiction Treatment in Medicaid
BY JESSICA DaMASSA, WTF HEALTH
Telehealth addiction treatment clinic Boulder Care just closed a $36 million Series B. I’ve got Founder & CEO Stephanie Strong here to talk about the virtual care company’s medication-assisted approach to opioid and alcohol use disorder treatment, and its growing-bigger-by-the-day presence in the Medicaid market.
In fact, more than 95% of Boulder Care’s revenue comes in from Managed Medicaid plans, and this focus on making medications like Suboxone accessible to traditionally marginalized patients is not only better for patients (drugs like these can cut all-cause mortality rate by half or more) but also compelling for payers. Stephanie says patients suffering from opioid addiction who go untreated are 550% more expensive to the plan than those who are not, and these types of medications facilitate recovery by making it bearable, blocking withdrawal symptoms.
We get into the details behind Boulder Care’s approach, which includes a number of wrap-around support services, including those provided by the startup’s care delivery team that is set to grow as a result of this Series B funding. And speaking of scaling… Does Stephanie have any concerns about challenges that Boulder Care might face prescribing-and-managing controlled substances as a result of the scrutiny created by Cerebral’s bad behavior? Any additional concerns about changes to the clinic’s telehealth practices when the Covid19 public health emergency comes to an end? And…what about competition in this space?? Particularly as similar-looking Bicycle Health announced its $50 million Series B just days earlier? A great inside look at how virtual care is changing the specialized mental health care space.
