by Venkatesh Gomatam
Substance Use Disorder (SUD) is a huge societal problem, affecting over 48.7 million people. SUD’s tight nexus with mental disorders adds complexities to potential treatments, making it an even bigger challenge. We wrote more about SUD here along with data that highlights the scale of the problem.
The crisis is further exacerbated by the fact that only a small percentage of SUD patients get healthcare access and attention. In 2023, only 23% of those needing SUD treatment received it. Lack of access is in large part driven by high costs, lack of treatment facilities, and a limited healthcare workforce, especially in rural areas and regions with high substance abuse rates.
This is the problem area that companies like Eleanor Health are trying to solve. By building their solution primarily as a virtual care platform, they are able to mitigate some of the aforementioned access problems. As William McKinney, CEO of Eleanor Health, puts it, “By meeting people where they are, Eleanor’s approach opens the door for individuals to receive care who may not otherwise seek help, or who may face barriers that prevent their illnesses from responding well to traditional methods of treatment.”
Substance Use Disorder Treatment – Traditional Approach vs. Harm Reduction Model
The traditional methods mentioned above, used historically to treat people with substance use disorders, constitute the abstinence-based approach. Harm reduction – a more modern thinking that Eleanor Health subscribes to – is based on a compassionate model to address substance abuse problems without forcing sobriety.
Eleanor Health’s solution for SUD is an integrated model that includes medications such as Suboxone and Vivitrol, along with psychiatry, therapy, and peer recovery coaching. Eleanor currently has contracts with 17 payors – including five national payors – and its care is available in seven states (LA, MA, NJ, NC, OH, TX and WA).
Eleanor Health – Funding and Investors
With this $30 million Series D raise, Eleanor Health has cumulatively gotten over $166 million in funding since its inception in 2019. Investing in Series D was led by General Catalyst, with participation from Town Hall Ventures, Echo Health Ventures, Northpond Ventures, Rethink Impact and Emerson Collective.
Eleanor Health was founded by Corbin Petro and Chief Medical Officer Nzinga Harrison, M.D. Corbin Petro announced her plans to step down as CEO in August 2023. William McKinney, Eleanor’s current CEO, joined the company in January 2024.