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Investments in behavioral health virtual delivery systems have dwarfed investments in brick and mortar services. In 2020, digital behavioral health funding increased nearly threefold over 2019, with $1.8 billion in funding across 55 deals, compared to $609 million in 2019 (see 2020 Market Insights Report: Chasing A New Equilibrium). In the first quarter of 2021, investments in new digital health deals were at a high of $6.7 billion, with mental health investments once again topping the list (see Digital Is Hot & Mental Health Is Hotter).

The new all-virtual delivery systems have been viewed as something “apart . . .

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