Minded is a D2C telehealth app that is streamlining the prescription refill process for mental health patients
We are beyond excited to announce VWV’s investment in Minded. Founded by David Ronick (Brown ’89), Minded is creating a better way for people taking mental health medications to renew and refill their prescription, with online consultations, home delivery, and affordable pricing. VWV is excited to support a venture that is innovating in the healthcare sector and will join the company’s seed round along with investors from Streamlined Ventures and The Fund.
Pain Points
Currently, the prescription renewal process is extremely frustrating for the following reasons:
Wasted Time: Patients need to return to the doctor every three months for a simple 3-minute interaction
Insurance Coverage: The best psychiatrists, oftentimes, do not accept insurance (JAMA Psychiatry)
“Low reimbursement has been cited as a reason why psychiatrists do not accept insurance.” — Bishop et. al
The Minded Solution
To solve these problems, David and his team at Minded have developed an easy-to-use D2C app that streamlines the prescription process for mental health patients at an affordable price point ($25/month). Here are some of the product features:
Quick Online Prescription Survey — a short 5 min survey to determine the needs of the patient (medication, dosage, address, etc.)
Home Delivery — an ability to deliver prescriptions directly to the patient with 3rd Party Pharmacy/Delivery partners
Continuous Care — an online consultation program with real nurses and doctors (when necessary) to provide clinical touchpoints
Fraud Protection — a high degree of KYC capabilities with SoCure and patient verification with SureScripts
Why did we invest?
Underlying our decision to partner with Minded is a strong conviction that the COVID-19 pandemic is accelerating the shift to telemedicine in behavioral health specialties and expediting the destigmatization of mental illness.
Ultimately, after spending time with David and his core team of successful entrepreneurs, telehealth experts, and psychiatrists, we have extreme confidence that Minded’s easy-to-use platform can change the prescription renewal process for medications related to sleep, attention, anxiety, depression, and more.
We are excited to partner with Minded and can’t wait to help them mitigate inefficiencies and increase accessibility to the mental health industry.
—Ved