Behavioral Health Business March 1, 2024
Teladoc’s (NYSE: TDOC) direct-to-consumer mental health subsidiary, BetterHelp, refunded $93 million to consumers in 2023.
That amounts to about 8% of the company’s revenue, according to public SEC filings. BetterHelp saw its refund total increase by 15% compared to 2022.
“BetterHelp regularly discloses the annual amount of refunds issued to members. Refunds may be offered for any number of reasons if a member decides BetterHelp is not right for them,” a BetterHelp spokesperson told Behavioral Health Business. “The amount of refunds issued to members has been a consistent percentage of revenue over the past several years.”
But in its annual financial report for 2023, Teladoc (NYSE: TDOC) notes that refunds are unique to BetterHelp. Teladoc’s other services line —...
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