Wait, it’s Q4? Much as each week seems to end with a “holy crap it’s Friday!” it’s mind-blowing that we’re already approaching the end of the year. And what a year it has been. Vaccine rollouts, mask mandates, hiring sprees, record funding in digital health – not to mention 5,000 of us wandering around the Boston Convention Center last week trying to recognize each other by our eyeballs. In spite of what feels like a perpetual twilight zone, time marches on, and this will go down in the books as a remarkable year. This quarter, we sat down with our friend Marjorie Morrison, the Co-Founder and CEO of Psych Hub, to talk about what she and Patrick Kennedy are building, and why a focus on mental and behavioral health is more important now than ever. We are also doing a bit of a retrospective view in honor of the rollout of our Second Annual Digital Health Executive Compensation Study, looking back at the first run last year, and how much has changed during such a wild year in the industry. And speaking of that wild year, I took a little shot at how Founders and CEOs can compete in an unprecedented hiring market without totally blowing up their P&Ls. It was great to see so many of you last week, and I hope the year ends on a high note for you. See you at JPM in January!
— Tim

An Interview With Marjorie Morrison, Co-Founder and CEO of Psych Hub

Marjorie Morrison is the Co-Founder and CEO of Psych Hub, the most comprehensive online educational platform on mental health, substance use, and suicide prevention in the world. Their fast-growing library of learning solutions are empowering professionals, providers and allies in their efforts to continuously improve lives and outcomes. We sat down with Marjorie this quarter to hear more about her founding story, the mission she’s on, and the big picture vision for Psych Hub.

TG: What was the inspiration behind co-founding Psych Hub?

MM: If you’ve ever tried to find mental health care, it’s really hard. Right now, for the most part, behavioral health providers are generalists. So, when you see someone, it doesn’t really matter what your symptom is or what you’re going to see them for. They pretty much treat everything the same. When you’re a therapist, every hour you see something different. It could be ADHD at 9am, bipolar at 10am, and complicated grief at 11am.

There are targeted evidence-based interventions for different diagnoses that exist and are proven to be more effective. The impetus of Psych Hub is to get providers everything they need to be using these evidence-based interventions so they can treat more effectively. Psych Hub was designed to get behavioral health providers trained and certified into specialties using evidence-based practices to increase precision matching so people can get connected to the right care. This is a win-win for everybody. Clients get better in shorter periods of time; providers are less burnt out because they’re really honing their craft; and there’s overall savings in the cost of care.

It’s Not Just About the Money

We are in a bull market for Digital Health right now. Full stop. We are at minimum 4 quarters deep into it, and depending on how you view Q2 of 2020, it may have started before then, with a brief pause to watch Covid pour jet fuel all over this fire. Whether or not we’re in a bubble is a conversation for another day, or a beer (in person!) at JPMorgan in January. What’s not up for debate is the impact this environment is having on talent acquisition, and while I know some will frown on the term “war for talent,” that’s probably putting it mildly. Here’s just a few things we’ve seen in the last 9 months:

A candidate reached offer stage for a complex search and was contacted by another opportunity, to which they told them that they were getting ready to receive said offer. To compete, the competing company made them an offer BEFORE interviewing them, and then conducted their full interview process in a compressed time-frame.

WELCOMING OUR NEWEST PRINCIPAL:
Are You Paid What You’re Worth?

“Am I paid what I’m worth?” A quick question that hangs in the air uncomfortably as you try to unpack the impact of the word “worth.” And while worth may be hard to quantify, payment certainly isn’t. You know exactly what your base, bonus and equity is in money terms. OK, maybe not equity.

Aequitas Partners has always been a human capital company with equity at its heart. To aid in the search for further transparency and insight, last year we launched a resource center, including the industry’s first executive compensation study. And today, we’re announcing the long-awaited sequel – the 2nd Annual Digital Health Executive Compensation Study.