Behavioral Health Business January 16, 2024
Matthew Blake

Stephanie Strong founded Boulder Care in 2017 with an ambitious goal: build a profitable substance use disorder (SUD) treatment business that would also accept Medicaid patients, many caught up in the opioid epidemic.

Strong’s timing proved auspicious. Over a year later, a new federal law came into effect requiring states to cover federally approved opioid medications under Medicaid.

Propelled by additional economic and legal shifts, including the ability to now prescribe opioid medication buprenorphine over a telehealth session, Portland, Oregon-based Boulder Care in 2022 raised $35 million in its second venture capital fundraising round.

In just a few years, Strong said, Medicaid coverage for SUD has improved dramatically. It is still not nearly enough, however.

“Medicaid will cover a...

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Topics: Insurance, Medicaid, Mental Health, Patient / Consumer, Provider
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