"Our rapid provider growth has been fueled by our business model transition by making it easier for more providers to join Zocdoc, we can offer more choice and availability to patients," said Oliver Kharraz, M.D., Zocdoc founder and CEO. Speed of access is critical in ensuring people who are motivated to get care do not "drop out" along the way: citing a recent study from the National Council for Behavioral Health (NCBH) and the Cohen Veterans Network, NCBH President and CEO Linda Rosenberg said, "For every one day of wait time, you lose 1 percent of the patients - so if you have a 21-day wait, 21 percent of the patients seeking care just will give up and not show up." This is particularly notable for mental health: patients wait an average of 25 days to see a psychiatrist, with some waiting more than 90 days, and wait times for mental practitioners overall continuing to grow. In addition to making it easier to find and book care, Zocdoc also strives to make it faster, significantly decreasing the average wait time to see a provider. With more than 40% of US adults reporting symptoms of anxiety and depression in 2020, and providers reporting a 93% increase in patients seeking anxiety resources from patients, it is critical that people can easily find and book the mental health care they may need. In the mental health space in 2021 alone, notable mental health organizations such as Choosing Therapy, Grow Therapy, Headway, and Thriveworks have all joined Zocdoc to reach new patients seeking care via its marketplace.Īt the same time, amid the COVID-19 pandemic, there has been a sharp and continued rise in demand for mental health care. This transformation moved Zocdoc from a subscription pricing model to a transaction model in which the company charges providers a fee per each new patient booking it facilitates - a change that lowered the barrier to entry for providers.Īs a result of this transition, Zocdoc has seen accelerating growth in new providers, from solo practitioners to large care organizations, have joined the marketplace, and the company has deepened its relationships with existing provider customers. Zocdoc's provider growth across all specialties, including mental health, has primarily been driven by the company's successful transition to a new business model. While Zocdoc experienced provider growth across specialties from September 2020 to September 2021, mental health was the company's fastest-growing segment Zocdoc saw approximately 128% growth in mental health providers joining its platform, offering more choice and better access to people seeking care.
3, 2021 /PRNewswire/ - Zocdoc, a leading healthcare marketplace that makes it easy for people to find and book in-person or virtual care across +200 specialties, today announced record-setting year-over-year mental health provider and appointment booking growth.
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