It is with a heavy heart that we are forced to admit that Lantern as it exists today will not be able to accomplish its mission to provide affordable and accessible mental health services that empower people to live their healthiest and happiest lives.
We’ve spent the past six years working hard to build a product that is engaging for users, reduces symptoms, and has a sustainable business model. After some trial and error in the direct to consumer and employer spaces, we ultimately pursued a strategy of alignment with traditional healthcare insurance companies. Healthcare moves very slowly and we made the mistake of misjudging the time it would take to achieve sustainable revenue through this approach.
We were never alone in this space. There are many talented people working hard to solve the very real problems in the field of mental health. We sincerely hope that someone is able to create a sustainable business delivering digital mental health tools through the existing healthcare system.
And yet we’ve learned that even if those organizations succeed, there will still be large populations of people left without access to tools that can help them live healthier, happier lives. Many people in America live without access to health insurance that adequately covers mental health, or a job that provides them the type of benefits likely to include digital behavioral health tools.
Mental health literacy and preventative care in underserved populations is a very real problem today, and the problem is only growing. A group of us here at Lantern believe we can take the learnings, technology, and skills we attained over the past six years and address this problem without a need to focus on profits and exit strategies.
We look forward to bringing that work forward, and hope you’ll continue to engage with us in our efforts.