How Cerebral went from a hyped $4.8 billion mental-health startup to fighting for its survival
to fill prescriptions for controlled drugs. Cerebral still works with many insurers, the spokesperson said.changes the company has made. But his involvement in Cerebral's questionable prescribing practices has cast a shadow over those efforts.meant to increase stimulant prescriptions, in part by emailing clinicians and asking them to reassess cases in which they hadn't prescribed stimulants, according to an internal document recently reviewed by Insider.
Earlier in the year, the company had found that ADHD patients treated with stimulants subscribed to Cerebral for longer periods than other patients, according to a slide from an internal presentation from July 2021 recently reviewed by Insider.There were consequences to Cerebral's push into controlled medications and its decision in May to cease prescribing them.
Clinicians who worked for the company are still dealing with the fallout. Some have had trouble getting prescriptions they write for controlled substances filled at certain pharmacies because of their past or current affiliations with the startup, two of them told Insider.Cerebral's troubles have become a lesson on chasing growth at the expense of patients. Investors and industry observers told Insider the events at Cerebral inspired more caution.
Some venture capitalists attribute Cerebral's rise to an era when raising funds was easier and some big investors failed to adequately scrutinize the companies they backed. They say this period of cheap capital gave founders the edge in negotiations for investments, and healthcare-industry outsiders like SoftBank placed bets quickly and valued startups too highly.
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