Behavioral Health Business April 26, 2024
Virtual care behemoth Teladoc projects that revenue from its direct-to-consumer behavioral health service, BetterHelp, will remain in the red for the first half of the year.
In Q1, BetterHelp saw revenue decline by 4% and a membership decline of 11% compared to the same quarter last year. Looking into the next quarter, the company expects BetterHelp revenue to be in the range of negative 8% to negative 4% over the prior year period.
Company leadership attributed the BetterHelp turbulence to advertising yield cost, a historic difficulty for the company.
“Our second quarter guidance reflects challenging cost-per-acquisition through early Q1, which caused us to pull back on our advertising dollars in the quarter in keeping with our goal of balancing growth...
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