Talkspace chose Jon Cohen, M.D., as its new CEO in the fall of 2022. As an experienced healthcare executive, Dr. Jon R. Cohen plans to continue growing the company’s B2B platform and membership base.
Talkspace, an online therapy platform that offers mental health services continues from licensed therapists for publicly traded companies, recently came under financial scrutiny. The stock price has fallen from $9 per share to $1 per share.
Dr. Cohen is here to turn things around.
In this blog post, we’ll take a look at Dr. Cohen’s background, and his vision for Talkspace, and answer a bunch of commonly asked questions.
Why Did Talkspace CEO Step Down?
As of November 2021, Talkspace’s interim CEO board and co-founder Roni Frank, as well as President and COO Mark Hirschhorn, have both stepped down from their positions following an internal review of their conduct with strategic direction.
The company has not provided specific details about the nature of the review, but it has been reported that there were issues surrounding behavior at an offsite event.
Talkspace has named Dr. Jon Cohen as its new CEO transition plan and has also announced layoffs as part of a turnaround effort. While the leadership shake-up may cause some uncertainty for Talkspace users, the company remains committed to providing accessible mental health care through its teletherapy platform.
If you are a Talkspace user or considering using the service, it may be helpful to stay informed about any updates from the company and to communicate with your therapist about any concerns you may have.
Dr. Jon Cohen’s Background
Cohen is a seasoned executive with more than 30 years of experience in healthcare4.
- He has led strategic transformations and put operational discipline in place while developing several new business ventures. Cohen has a lot of experience making digital health and mobile health technology projects and growing them.
- As Executive Chairman and CEO of BioReference Laboratories, one of the four largest commercial labs in the country, he built and grew Scarlet Health, the country’s largest digital at-home blood draw solution used by major telehealth platforms. This service is now covered by more than 83 million people.
- As a member of the executive leadership team at Quest Diagnostic and BioReference, Cohen has also built strong business relationships with a number of large national health systems and payers.
New Talkspace CEO Vision for Talkspace
Dr. Cohen says5, “I have long admired Talkspace for its commitment to transforming the delivery of mental health care, an unmet need for millions of Americans, and I couldn’t be more excited to join Talkspace’s talented team at this time,”
“I look forward to continuing to build out the B2B platform, working with our dedicated network of therapists to keep growing our offerings and ensure we continue to deliver best-in-class care to our members, payor, and enterprise partners.”
If you’re wondering what’s going on with Talkspace, here are some key points to consider:
- Talkspace is an online therapy service that connects users with licensed therapists from the comfort of their own devices.
- Talkspace offers convenient and affordable mental health care through insurance, with plans starting at just $69 per week.
- You can choose from a variety of therapy options, including messaging therapy, live video sessions, and couples therapy.
- Talkspace is available in all 50 states and accepts many major insurance plans.
- If you’re interested in trying Talkspace for yourself, you can download the app from the App Store or Google Play.
Who Is The Founder Of Talkspace?
Talkspace is an online therapy platform that provides access to licensed therapists via video chat or text.
The company was co-founded by Oren and Roni Frank in 2012, with a mission to democratize access to high-quality behavioral health services.
Oren Frank is the former CEO of Talkspace, while Roni Frank previously served as the Head of Clinical Services.
Both founders have been recognized for their contributions to the mental health industry, with Roni and Oren Frank being named among TIME’s list of the 50 Most Influential People in Healthcare in 2018.
Despite recent leadership changes at Talkspace, the company remains committed to providing accessible and affordable mental health care to those who need it most.
Who Is Oren Frank?
Oren Frank is an Israel native and the co-founder and former CEO of Talkspace, an online therapy platform that provides access to licensed therapists via video chat or text.
He is recognized as a progressive creative strategist and leader in the new media-marketing world. Oren has a firm grasp of media, marketing, and technology services.
He has been featured in various publications such as Ad Age, Bloomberg, and Crunchbase. Oren co-founded Talkspace with his wife Roni Frank in 2012 with a mission to democratize access to high-quality behavioral health services.
The company has made therapy accessible and affordable to millions of people worldwide. Oren stepped down from his role as CEO in 2020 but remains an active member of the company’s board of directors.
Who Is The CEO Of Talkspace?
If you are wondering who the CEO of Talkspace is, his name is Dr. Jon Cohen. He assumed the role of chief executive at Talkspace, a virtual mental health company based in Midtown, after more than three decades of experience in healthcare and technology.
Is Talkspace Under Investigation?
Yes, Talkspace digital healthcare company is currently under investigation for potential breaches of fiduciary duty by its officers and directors, as well as possible false statements in connection with a merger and another network behavioral health.
- The investigation is focused on whether the company’s officers and/or directors breached their fiduciary duties to the company’s shareholders.
- Additionally, there are concerns about Talkspace’s data privacy practices, including sharing analytics with Facebook and not disclosing critical growth headwinds.
- A class-action lawsuit has also been filed against the company for securities fraud1.
It is important to note that while these investigations are ongoing, Talkspace continues to provide online therapy services to its clients and is fighting back against these accusations in court.
If you have any concerns about your data privacy or the quality of care you are receiving from Talkspace or any other mental health app, it is recommended that review the Consumer Reports’ Digital Lab investigation of mental health apps3 that covers Talkspace.
Please know that from their investigation of Talkspace and 7 other online therapy companies, it does appear that most adhere to HIPPA-complaint rules – but only for desktops. Mobile apps are not covered under HIPPA, and it appears these companies share info with 3rd parties.
When Did Talkspace Go Public?
Talkspace went public in the summer of 2021 through a merger with SPAC Hudson Executive Investment Corp., in a deal that valued the company at $1.4 billion.
Who Developed Talkspace?
Talkspace is an online and mobile therapy company that was founded by Oren and Roni Frank in 2012. The husband-and-wife team started the company with a mission to democratize access to high-quality behavioral health services.
Why Was Talkspace Created?
Talkspace was created to provide a convenient and affordable way for individuals to improve their mental health.
Here are some reasons why Talkspace was created:
- To make therapy accessible to everyone: Talkspace allows you to connect with a licensed therapist from the comfort of your device, making it easier for you to fit therapy into your busy schedule.
- To remove the stigma around mental health: By offering an online platform for therapy, Talkspace hopes to reduce the stigma associated with seeking help for mental health issues.
- To increase access to mental health care: Talkspace has over 1 million users and offers therapy in all 50 states, making it easier for individuals in remote areas or without access to transportation to receive mental health care.
- To provide affordable therapy options: Traditional in-person therapy can be expensive, but Talkspace offers a variety of plans at different price points so that you can find an option that works for your budget.
Who Is The CFO Of Talkspace?
If you’re wondering who the CFO of Talkspace is, her name is Jennifer Fulk.
She was appointed as Chief Financial Officer in July 2021, replacing Mark Hirschhorn who went on to become Chief Operating Officer for a short period of time. Fulk has a strong background in finance, having previously served as Chief Financial Officer-US Bio-Medicines at Eli Lilly & Co.
he holds a Bachelor’s degree in Accounting from Indiana University and an MBA from the University of Chicago Booth School of Business. As CFO of Talkspace, Fulk is responsible for overseeing the company’s financial operations and ensuring its continued growth and success.
If you want to learn more about Jennifer Fulk or Talkspace, you can check out their official website or read articles from reputable sources like Business Wire and The Wall Street Journal.
What Are Talkspace Company Values?
Talkspace is an online therapy service that connects users to licensed therapists in their state of residence.
The company’s mission is to make mental health care more accessible and affordable for everyone. Here are some of Talkspace’s core values:
- Inclusivity: Talkspace believes that everyone deserves access to mental health care, regardless of their background or financial situation.
- Innovation: The company is committed to using technology to improve the quality and accessibility of mental health care.
- Empathy: Talkspace therapists are trained to provide compassionate, non-judgmental support to clients.
- Collaboration: The company values teamwork and encourages therapists to work together to provide the best possible care for clients.
- Transparency: Talkspace is transparent about its pricing, policies, and practices.
What Makes Talkspace Unique?
If you’re looking for a convenient and affordable way to improve your mental health, Talkspace may be the solution for you.
Here are some reasons that make Talkspace unique:
- Access to licensed therapists: With Talkspace, you can connect with a licensed therapist from the comfort of your device. This means that you can receive professional help without having to leave your home or office.
- Affordable pricing: Talkspace offers a range of plans to fit different budgets, starting at just $65 per week. This is significantly less expensive than traditional in-person therapy sessions.
- Flexible communication options: You can communicate with your therapist via text, audio, or video messages. This allows you to choose the method that works best for you and fits into your schedule.
- Privacy and security: Talkspace takes privacy and security seriously, using encryption and other measures to protect your personal information.
What Kind Of Company Is Talkspace?
Talkspace is an online therapy company that provides convenient and affordable mental health care to individuals. Here are some key points about Talkspace:
- Talkspace connects you with licensed therapists from the comfort of your own device, making it easy to fit therapy into your busy schedule.
- With over 1 million users, Talkspace is one of the #1 rated online therapy services.
- Talkspace offers a variety of therapy options, including messaging, video sessions, and live chat.
- The company is committed to providing high-quality care and employs only licensed therapists who have undergone rigorous training and certification.
- Talkspace is available in all 50 states and accepts most major insurance plans.
Is Talkspace Ethical?
If you are wondering whether Talkspace is ethical, it is important to consider the various allegations and criticisms that have been made against the therapy app.
Here are some key points to keep in mind:
- Talkspace has been accused of several ethically questionable practices, including data-mining patients’ private conversations with therapists and not adequately respecting client privacy.
- The company has also faced criticism for its labor practices and efficacy, with some therapists questioning whether they can meet their legal and ethical obligations without full and immediate access to a client’s information.
- In addition, former employees have alleged that Talkspace made burner phones available for fake reviews, which raises concerns about the company’s commitment to transparency and honesty.
- However, it is worth noting that Talkspace does have a Code of Business Conduct and Ethics that outlines general guidelines for conducting its business. This code emphasizes the importance of integrity, honesty, and compliance with laws and regulations.
- Ultimately, the question of whether Talkspace is ethical may depend on your individual values and priorities. If you are considering using this therapy app, it may be helpful to do your own research and carefully weigh the potential benefits and risks.
Talkspace CEO Conclusion:
Whether you’re looking for information on Talkspace CEO Dr. Jon Cohen or simply curious about what makes this digital health startup so successful, this blog post should give you some insight into his background, vision for Talkspace, and current financial standings.
Leave a comment below with your thoughts or give us a suggestion for an online mental health review we should try next.
Sources:
- Therapy app Talkspace accused of ethically questionable practices. (2016, December 20). MobiHealthNews. https://www.mobihealthnews.com/content/therapy-app-talkspace-accused-ethically-questionable-practices
- Jennifer Fulk. (n.d.). Linked In. Retrieved March 9, 2023, from https://www.linkedin.com/in/jennifer-fulk
- Mental Health Apps – 2-Page Brief. (n.d.). In https://advocacy.consumerreports.org. Retrieved March 9, 2023, from https://advocacy.consumerreports.org/wp-content/uploads/2020/12/cr_mentalhealth_2page.pdf
- Talkspace Announces Jon Cohen, M.D. As Next Chief Executive Officer – Talkspace, Inc. (2022, November 8). Talkspace, Inc. https://investors.talkspace.com/news-releases/news-release-details/talkspace-announces-jon-cohen-md-next-chief-executive-officer
- T. (2022, November 8). Talkspace Announces Jon Cohen, M.D. As Next Chief Executive Officer. GlobeNewswire News Room. https://www.globenewswire.com/en/news-release/2022/11/08/2550673/0/en/Talkspace-Announces-Jon-Cohen-M-D-As-Next-Chief-Executive-Officer.html
More Talkspace Resources
- We Bought Talkspace (Video) – Here’s Our Complete Review
- Why Michael Phelps Says, “Talkspace Saved My Life”
- Insurances Talkspace Accepts – Covers 40 Million Americans
- Talkspace Cost Breakdown – What We Paid
- The Public and Private Talkspace Discounts We Found
- Talkspace Phone Number (?)
- Talkspace Company Financial Info
- The Salary of Talkspace Therapists
- How To Cancel Your Talkspace Subscription
- The Talkspace App Is Popular!
- Talkspace Versus Calmerry
- Talkspace Versus Brightside
- Talkspace Versus Sesame Care
Talkspace Review
Overall
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Third Party Reviews
(3.5)
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Therapists
(4.5)
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Pricing / Insurance
(4.75)
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Design
(4.5)
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Customer Support
(3)
Summary
Talkspace is best if you’re new to therapy, have insurance, and looking for online convenience for mild to moderate mental health struggles.
Get $100 off your first month with code SPACE at Talkspace.com.
Pros
- No commuting with flexible online sessions from home
- Multiple subscription plans available
- Quick signup with user-friendly platform and app
- Constant access with round-the-clock text messages and live chats available
- You can choose your therapist from three options, allowing you to somewhat customize your experience
- Serves all 50 states
- You can switch therapists whenever you want at no extra cost.
- Has an easy-to-navigate app
- High user satisfaction
- Flexible plans, accepted by most health insurers and contract-free
- The service can connect you with a psychiatrist who can evaluate you and prescribe medication that you can pick up from your local pharmacy
- Provides individual therapy, couples, and teen therapy
- All sessions with well-qualified therapists
- The platform encrypts your conversations and offers a password-secured login system to keep your data private.
Cons
- Providers and AI algorithm choose 3 therapists for you
- No group or family counseling sessions
- Exact pricing only revealed upon sign-up
- Most affordable plan is messaging-only
- Text therapy may not be suitable for everyone as it may feel impersonal due to automated messages
- No sliding scale or financial aid options available
- Medicare and Medicaid do not cover services
- Live sessions are only 30 minutes long and must be purchased with higher-priced plans
- Overall best suited for cases of anxiety or depression
- If cancelled within the month, Talkspace will still charge the subscriber for the entire month
- AI analysis may be done on conversations with your therapist
- Chat history cannot be deleted
- Some misleading claims