As part of the new collaboration, the Quartet has collected more than $60 MM for its next stage of growth, led by Independence with the participation of existing investors GV and Oak HC/FT. Moreover, Gregory E. Defense, President and CEO of Independence, will join the Quartet’s Board of Directors, effective immediately.
“Independence Corporation believes that integrating physical and mental health is fundamental to improving overall health and well-being,” said Independence Defense CEO. “This core belief underlies Independence’s efforts to collaborate with partners and clinicians to integrate the delivery of care. This is also the reason for Independence’s partnership and investment in the next phase of the Quartet’s strategic growth and development. We share the vision and commitment to solve mental, physical and health challenges in an integrated manner.”
Quartet is an independent technology and services company that uses SmartMatch capabilities enabled by advanced data and analytics to quickly connect patients with mental health solutions that fit their preferences, match their clinical needs, accept their insurance, and relate to the rest of their healthcare experience. In the first eight months of the Quartet and Independence working together, more than 1,100 mental health and primary care physicians in southeastern PA signed up to use the Quartet’s platform, and more than 2,500 members were connected to the Quartet’s platform of care.
“In the Quartet, we’ve seen first-hand the increased demand for mental health care services during the COVID pandemic to support the 40% of American adults who have experienced a mental health condition,” Puneet Singh |, CEO of Quartet Health. “As a provider of millions of people with complex mental health needs, I know firsthand how important it is for all people to get an accurate diagnosis, find the right provider quickly, get affordable in-network care, and know that treatment helps me. I am excited to work with Independence to build an equitable mental health care system, thereby connecting countless Americans with timely access to the high-quality care they want and deserve.”
The four-way strategic partnership will enable further capacity building to enhance support for both patients and clinicians:
- Patient identification and participation: The Quartet will continue to enhance its capabilities in data and analytics to proactively identify patients’ needs and preferences and triage them into appropriate mental health care.
- Results-driven provider network: To quickly deliver high-quality care, the Quartet will invest in expanding the network of independent mental health care providers.
- Actionable insights to measure and reward quality: The Quartet, in partnership with primary care physicians, will continue to leverage data to proactively identify patients with potentially untreated conditions for formal screening. Once care is received, clinical evaluations will be used to determine when people with certain conditions and the caregivers who treat them are improving. Over time, this will help enhance the accuracy of the quadruple matching algorithms and allow providers to reward high-quality care through value-based payment models.
- Patients and Population Conditions: The Quartet will also work to enhance its capabilities to support additional conditions, such as substance use disorders and serious mental illnesses, and serve additional populations, such as pediatrics and young adults in transition.
“The data, analytics, and technical capabilities that the Quartet provides provide a unique and differentiated offering in the behavioral health care market,” said the Quartet board member. Annie LamontCo-Founder and Managing Partner, Oak HC/FT. “We look forward to continuing to collaborate with Greg and his team who share Oak HC/FT’s commitment to providing equal health and complete personality and increasing access to this nationwide.”
“As a clinician, I’ve seen the challenges of integrating behavioral health care with our broader medical system firsthand,” said the Quartet board member. Krishna YishwantMD, managing partner, at GV. “A technology-driven patient approach characterizes Quartet’s integrated behavioral healthcare platform and services. I’m excited for the company to build on this model, delivering faster, higher-quality care to more people during a time when patients need it most.”
About Quad Health
Quadrant is a leading technology-enabled behavioral health company that works with plans, systems, and groups of health providers to deliver high-quality behavioral health care for everyone. Through cutting-edge data and analytics, along with personalized services, the Quartet exists to enhance quality of care as defined by four metrics: speed in care, seamless patient experiences, improved health outcomes, and affordability. To date, approximately 300,000 patients have been referred to the quartet, 80% of whom are primary care. The company is backed by investment funding from major investors including Oak HC/FT, GV (formerly Google Ventures), F-Prime Capital Partners, Polaris Partners, Deerfield Management, Echo Health Ventures, Centene Corporation and Independence Health Group.
About Istiklal Health Group
Independence Health Group, headquartered in Philadelphia, providing innovative solutions for health and well-being across the country. Through our subsidiaries, we offer a wide range of market-leading specialized health plans and services. Our portfolio includes coverage for national corporations, large employer groups, small businesses and individuals; Portable advantages when you travel or live abroad; Medicare supplement and Medicare Advantage products; Medicaid. and specialized services such as vision and dental coverage. Independence Health Group is an independent licensee of the Blue Cross and Blue Shield Association.
SOURCE Independence Health Group