If Teladoc, the bigfoot of virtual care, comes poking around your turf, you’d better be ready.
For several billion-dollar mental health startups, that moment came last week, when the company announced a retooled, expansive offering for employers and health plans, trampling into a crowded market.
Teladoc’s move underscores both the scope of the opportunity and the increasingly competitive landscape, where companies with billion-dollar valuations like Lyra, Modern Health, and Ginger are also fighting for their share of the market. Their executives, armed with pitch decks and slick promises, must each do their best to prove to employers shopping their options that their company is best equipped to deliver cost-effective, quality care for employees.
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