Beverly Hills, CA , USA , 05/20/2021 / Mission Matters Media /
Kimberly O’Loughlin served in a senior leadership position in various industries like telecommunications, insurance, and financial services until she found healthcare. She explains that the healthcare market has many unmet needs, making it full of opportunities to innovate and change the game.
Listen to the full interview of Kimberly O’Loughlin with Adam Torres on Mission Matters Business Podcast.
Meeting The Unmet Needs Of Healthcare
Kimberly has led global businesses in the healthcare sector that provide technology to help expand healthcare access around the world. She states that the U.S., despite having the highest healthcare cost per capita globally, is still not producing in the top 20 in terms of healthcare outcomes. “It is important for us to make the necessary changes to relieve provider burden and to harness the power of what software and analytics can do for healthcare to improve outcomes and have our grandkids experience those improvements someday,” she says.
She also emphasizes the importance of the mental and behavioral health market, which has 235 billion dollars of spend today. It is one of the ’fastest-growing areas of healthcare, having an expected growth of 7% a year. With this in mind, Therapy Brands’ mission is to provide mission-critical tools to providers, to reduce administrative burdens, extend access to care and improve patient outcomes and satisfaction.
The Foundation of Therapy Brands
Therapy Brands was founded in 2013 by O’Loughlin’s predecessor, Shegun Otulana. The company began with Shegun’s conversation with a psychotherapist, where he uncovered that the products on the market weren’t sufficiently specialized to meet the needs of practicing psychotherapists.
Therapy Brands expanded to other therapy markets, including substance use recovery for people with addiction issues, applied behavioral analysis, i.e., serving children on the autism spectrum, and the physical rehab market. Providers in each of these markets are broadly underserved, especially from a technology perspective, with a large portion of the market still using paper or general-purpose tools. This revelation led to even more opportunities for Therapy Brands to develop products that specifically served the needs of these markets.
On being asked what motivated O’Loughlin to join Therapy Brands, she said, “What’s so compelling is that this market has been underserved for a long time, with unmet needs not only for the providers but for their clients as well. The market dynamics are compelling with the increasing prevalence of mental and behavioral health issues, the rapidly aging demographic, improvements in coverage, and provider shortage areas. For example, 20 percent of the population today suffers from a mental health issue, yet many are not getting the treatment they need. With inefficiencies resulting from lack of technology adoption, there is an imbalance between supply and demand, and waitlists are prevalent. If therapeutic practitioners embrace the technology that’s available today, we can address the fundamentals of the triple aim of increasing satisfaction, lowering costs, and changing outcomes, and that’s what has me excited.”
Therapy Brands’ Service Areas
Therapy Brands’ core offering is the EHR or PMS system – Electronic Health Record or Practice Management System that is purpose-built for therapy market providers. This base software assists in clinical capabilities, administration, and billing. Additionally, Therapy Brands also integrates various essential capabilities needed for the practice, like HIPAA-compliant telehealth and patient engagement solutions.
Therapy Brands’ providers have a complex payer and regulatory landscape, so they also provide payment processing software and revenue cycle services to support the practices’ financial health. Ultimately, the company aims to provide easy-to-use and efficiency-driven solutions.
What Lies Ahead
Global Investment Firm KKR has recently agreed to acquire a majority interest in Therapy Brands. The approvals are still in process, but Kimberly shares that KKR will be an excellent partner. “KKR has more than 40 years of experience partnering with companies to build leading global enterprises,” she says. “They’ve been investing in and supporting health care companies for many years. They have global resources, a wealth of knowledge, and bring all of this to the table, which is a beautiful thing to have on our team.”
About
Therapy Brands is the leading provider of fully integrated Practice Management and EHR solutions for mental and behavioral health providers. The company aims to provide healthcare practitioners the best software, tools, and services to manage their practice. Therapy Brands looks forward to making a difference for the mental, behavioral and rehabilitative healthcare market. To learn more about Therapy Brands, visit www.therapybrands.com.
Media Communications
Inquiries: adamtorres@missionmatters.com
Publicist for Adam Torres and Mission Matters Media KISS PR Brand Story PressWire
Brand Publicity Partners KissPR.com
For more details, visit Kisspr.com. KISS PR Digital PR & Marketing powers the Mission Matters Business podcast with brand storytelling. T: 972.437.8942
Source: Adam Torres / Co-Founder
Release ID: 19144
Content Disclaimer:
The above review statements are those of the sponsor (Source of content) and do not necessarily reflect the official policy, position or views of the content publisher. The content distribution company is therefore not responsible for the content and its authenticity and legal standing of the above subject matter. Each individual is required to exercise its content when making a purchase from the above offer. The information does not constitute advice or an offer to buy. Any purchase made from the above press release is made at your own risk. Editorial merit of this content is subject to news publisher and its downstream partners. Consult an expert advisor/health and professional advisor before any such purchase. Any purchase made from this link is subject to the final terms and conditions of the website’s selling as mentioned in the above as source. The content publisher and its downstream distribution partners do not take any responsibility directly or indirectly. If you have any complaints or copyright issues related to this article, kindly contact the company this news is about.
DISCLAIMER of Liability. IN NO EVENT SHALL OUR PR COMPANY BE LIABLE OR RESPONSIBLE TO YOU OR ANY OTHER PERSON FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, OR EXEMPLARY DAMAGES OF ANY KIND, INCLUDING WITHOUT LIMITATION, LOST PROFITS OR LOST OPPORTUNITIES, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES IN ADVANCE AND REGARDLESS OF THE CAUSE OF ACTION UPON WHICH ANY SUCH CLAIM IS BASED, INCLUDING, WITHOUT LIMITATION, ANY CLAIM ARISING OUT OF OR IN CONNECTION WITH ANY OF THE CONTENT, INCLUDING, WITHOUT LIMITATION, AUDIO, PHOTOGRAPHS, AND VIDEOS, OR OF THE ACCURACY, RELIABILITY, OR LEGALITY OF ANY STATEMENT MADE IN OR OMITTED FROM ANY advertisement, sponsorship, endorsement, testimonial, opinion, or other product-related or service-related statement or review appearing in the Websites or in ANY post or article distributed via the Websites.
