Description of the episode below ⬇️
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It’s no surprise that many are still feeling the psychological impact of the pandemic. And, as mental health becomes less stigmatized, a new wave of apps and companies, such as BetterHelp and Talkspace, have flooded this space, providing more affordable and convenient mental health services.
However, while this new wave of attention to mental health is good for society, the interest of VCs seeking to turn that attention into profit could actually be disastrous for the industry.
To discuss this new “Uberfication of Therapy,” we’re joined by William Schroeder, co-owner and counselor at Just Mind, an Austin, TX-based mental health clinic.
Schroeder explains how these big tech companies promise mental health specialists the ability to activate an app and get as many clients as possible with the promise of good earnings. However, much like Uber, those big payday promises fell flat. Especially when these companies gain market share, they cut workers’ wages or introduce subscription fees that claw back profits from the individual.
Schroeder also shares what he thinks needs to be done in order to provide better and more affordable mental health services to the general population. In response to that question, Schroeder explains the rollout of 988, an emergency number that will free up crisis teams across the country, so that when people are in a mental health crisis, whatever it may be, they can call this number.
It also details how student loan forgiveness could be a method to attract more mental health workers. And finally, Schroeder discusses how apps can be a useful tool in the battle for better mental health services.