Latest / Becker's Healthcare Behavioral Health / Talkspace Upped Revenue 11% in Q1; Brightline Suffers Data Breach, Potentially Impacting 783K Patients

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Talkspace Upped Revenue 11% in Q1; Brightline Suffers Data Breach, Potentially Impacting 783K Patients · Becker's Healthcare Behavioral Health

• 0:00
  This is Randy Homan with Becker's Behavioral Health Podcast.
• 0:04
  Here's your daily industry news brief for May 4th, first,
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  virtual therapy company,
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  Talkspace increased its first quarter revenue by 11%.
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  Talkspace attributes that growth to its 71% increase in business to business
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  revenue year over year.
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  It now has the largest payer network for mental telehealth. In the US
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  its gross profit is over 16 million.
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  The company saw a 40% decrease in consumer revenue compared to the first quarter
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  of last year. Operating expenses decreased 29% from last year.
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  Net loss was 8.8 million. Based on these results,
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  the company projects its revenue will hit as much as 5 million. This year.
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  Talkspace expects to break even on its adjusted earnings by the end of next
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  year's first quarter. This is one quarter earlier than initially expected.
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  Second pediatric virtual mental healthcare provider.
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  Bright Line is laying off 20% of its staff.
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  This is its second round of layoffs in six months.
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  Bright Line has partnerships with large healthcare payers like Cigna Group.
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  It indicates the job cuts will affect corporate non-patient facing staffers.
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  And an email to Becker's.
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  A Bright Line spokesperson says this will ultimately serve its clients better
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  and provide for more families.
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  Bright Line First laid off 20% of its staff in
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  November 3rd, bright Line also experienced a data breach.
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  It may have affected as much as 783,000 people.
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  Bright Lines vendor for detected the breach January 30th for
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  is the third party provider of file transfers known as Go Anywhere MFT
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  software as a service. Bright Line. Learned about the breach February 4th,
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  it determined the incident was limited solely to the Fortress Service and did
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  not impact Bright Line's own network.
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  Bright Line's investigation into the breach determined that a limited amount of
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  protected health information was impacted. This includes names, addresses,
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  dates of birth, member identification numbers, dates of health plan coverage,
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  as well as employer names in response to the incident.
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  Bright Line is offering impacted individuals,
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  two years of complimentary identity theft and credit monitoring services by
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  Cyber Scout. Thanks for listening.
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  Deal more of the latest info and behavioral health delivered directly to your
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  inbox.
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  www dot becker's behavioral health.com.