It turns out that Quartet offloading its psychiatry business last week was only half of the story, and NeuroFlow will be writing the next chapter after acquiring the rest of the value-based behavioral care enabler.
Quartet works with health plans, health systems, and community centers to connect patients with behavioral care needs directly to high-quality providers, including its own medical group.
- Just last week, it sent 165 of those providers to Iris Telehealth through the acquisition of its innovaTel psychiatry division, which specializes in difficult to manage conditions.
- It wasn’t exactly clear why Quartet felt it was the right time for an exit, or why it split up the business, but it’s apparently been looking for mission-aligned partners to help expand its impact.
NeuroFlow checks all the boxes. The NeuroFlow platform centers around integrating behavioral health into physical health workflows, eliminating a major blindspot for physicians looking to improve overall outcomes – not to mention quality and risk management programs.
- Since launching in 2016, NeuroFlow’s raised $58M of total funding (versus a hefty $266M for Quartet), and it hasn’t shied away from adding new capabilities through M&A.
- It picked up measurement-based care company Owl in 2024, and it’s fresh off the acquisition of Intermountain’s behavioral health risk analytics model earlier this month.
It’s hard for healthcare organizations to manage the quality, outcomes, and cost of their patients’ care without managing behavioral health. NeuroFlow makes that happen at scale.
- It handles everything from the identification, triage, and measurement of that care, while also equipping patients with self-guided programs that allow providers to track their progress and update their risk levels.
- Quartet’s expansive provider network and referral management expertise will bolster NeuroFlow’s offerings for its existing customers, and bring along new ones like PA-based Independence Blue Cross, which was specifically called out in the release.
The Takeaway
There’s unfortunately no shortage of demand for behavioral health services, and many expect a new wave of consolidation to be driven by companies pooling resources to build platforms that can keep up. That wave could already be here, with NeuroFlow’s acquisition of Quartet adding to back-to-back busy weeks in the segment.
