Slow and Steady Growth: Freespira’s Innovative Approach to Digital Health Treatment Adoption

Freespira, a digital health company that creates software- and device-based treatments for panic and post-traumatic stress disorders, has taken a different approach to achieving rapid adoption and large revenues. Unlike many other digital health companies that have struggled to meet their promises, Freespira has focused on building up its patient base slowly, one thousand patients at a time.

Recently, the Kirkland, Washington-based company raised $10 million to support its growth and improve its products in order to reduce costs. Freespira’s CEO Joe Perekupka has set a goal of enrolling 2,500 patients in treatment this year, doubling sales from the previous year. The company anticipates reaching a break-even point by the end of 2025 and becoming cash flow positive in 2026.

Freespira’s treatment has been cleared by the FDA but is not automatically covered by insurance providers. Therefore, the company’s business strategy involves establishing strong relationships with regional health plans that are willing to explore new payment options and collaborate to increase adoption rates. To date, Freespira has partnered with five payers and aims to add an average of three more per year in order to expand its reach and impact.