Two Chairs recently secured an investment to continue expanding its innovative hybrid model. The $72 million funding round was led by Amplo and Fifth Down Capital, with additional equity primarily comprising the bulk of the investment, and debt financing provided by Bridge Bank. This new influx of capital raises Two Chairs’ total funding to $103 million. The company’s rapid expansion stands out, with an eightfold growth in the last three years and a staff comprising over 500 clinicians across California, Washington, and Florida. These funds are earmarked for further market expansion and enhancements in their technological capabilities. This financial backing shows a strong investor confidence in Two Chairs’ model and its capacity to scale effectively without compromising the quality of care it delivers.
Two Chairs’ operational ethos focuses on its commitment to creating optimal patient-therapist matches and employing measurement-based care, which is a method to monitor patient progress systematically. Alex Katz, the company’s founder and CEO, emphasized the importance of the therapist-client relationship in achieving positive mental health outcomes. Two Chairs has developed an algorithm that considers up to 300 variables to facilitate effective matches between patients and therapists. 97% of clients have reported a strong relationship with their therapists, highlighting the effectiveness of this personalized approach. The company also uses technology to gather and analyze real-time data on patient well-being, including symptoms and overall quality of life, prior to each appointment. This approach tailors treatment plans more accurately and enhances the ongoing therapeutic relationship, ensuring better health outcomes.
Two Chairs understand the importance of in-depth support systems in behavioral health. They excel in this area by offering strong support systems for clinicians and complex cases. The company’s structure allows clinicians to manage higher acuity cases effectively, providing them with access to team consultations and coaching from clinical managers. A well-defined crisis protocol further supports the clinicians’ ability to manage a diverse range of patient needs, including those requiring more intensive care. Collaborations with primary care providers and psychiatrists augment this support system, ensuring care that extends beyond the immediate reach of behavioral therapy. This structured support improves clinical efficacy and contributes to the high retention rates of patients, with 90% continuing to their fourth session, much higher than the industry average.
Two Chairs’ partnerships with major healthcare providers like Aetna and Kaiser Permanente enhance its reach and service accessibility, indicating a forward-thinking approach to healthcare integration. These collaborations, along with planned expansions, are poised to increase the availability of services to a broader demographic, including Medicaid and Medicare patients. The integration of in-network services helps minimize out-of-pocket expenses for patients, further improving access to quality mental health care. As Two Chairs continues to expand and refine its service offerings, its focus remains on delivering high-quality care and an exemplary clinical experience. This patient and clinician-centric approach sets Two Chairs apart in a rapidly evolving healthcare industry and ensures its continued growth and relevance in the field of behavioral health.
