How Monument Helps People Change Their Relationship With Alcohol

When Mike Russell determined that he wanted to vary his relationship with alcohol, he realized that almost all assets have been centered solely on the day by day drinker. This impressed him to launch Monument, a web based therapy platform for anybody trying to change their relationship with alcohol. I sat down with Mike to study his private journey launching Monument, and the impression Covid-19 has had on telehealth companies like his. 

Dave Knox: What impressed you to launch Monument and go on this journey of beginning this new enterprise?

Mike Russell: Monument could be very a lot a productization of what helped me finally cease consuming. On the time, I wasn’t even eager about it as a enterprise or a know-how. I used to be simply making an attempt to determine clear up my very own challenges with alcohol. I wasn’t an on a regular basis drinker. I used to be consuming perhaps as soon as a month. I might consistently attempt to persuade myself, “I can have one drink.” However I by no means was in a position to have only one drink. I lastly got here to phrases with the truth that I wished to interrupt the cycle however I could not do it by myself, and I wanted some assist. So by analysis and speaking to associates, I found there was FDA-approved medication to stop drinking, together with one choice that created an allergic response to alcohol. I took it each morning and it inhibited my physique’s skill to metabolize alcohol. In different phrases, if I have been to drink whereas on it, I might get sick. And that kick-started my journey. As soon as I modified that habits, I needed to sort out among the psychological well being points that have been arising. And I did that by a really particular sort of remedy. 

As I used to be having success with this, I used to be writing issues down. I hold an “thought listing” the place I observe issues which are difficult, or simply tougher than they need to be. And I put this problem of breaking the unhealthy consuming cycle on my thought listing. After I completed the earnout from promoting my prior know-how firm, I checked out my thought listing and this one jumped out at me. I mentioned, “Possibly there is a enterprise right here, and there is a method to assist folks at scale. There’s most likely lots of people on the market like me.” In order that’s the way it all started.

Knox: How precisely does Monument work?

Russell: Initially, I wished to present folks the flexibility to get began free of charge and educate themselves. I realized by studying medical research, however I additionally realized by speaking to folks just like me, and listening to what labored for them. At Monument, you get entry to a digital neighborhood that’s nameless and free. In that neighborhood, you discover assets, instruments, boards, and therapist-moderated alcohol support groups by matter. The purpose is to first educate any person on the place they stand, what labored for different folks like them, and what did not work. 

The subsequent step could be to affix a medical therapy plan if it’s best for you. Our purpose shouldn’t be essentially to get any person right into a Monument therapy plan. Our purpose is to get any person to the suitable place for them. If any person does be a part of a Monument therapy plan, they get entry to video calls with a doctor who can prescribe medicine to cease consuming if secure and applicable. Pending a prescription, medicine is discreetly delivered to your door. Then there’s ongoing remedy. You’ve video calls with a therapist, and you are able to do that each different week, or each week, relying in your preferences and desires. Remedy at Monument is concentrated on the particular challenges that will come up when any person modifications their relationship with alcohol, and empowering more healthy coping mechanisms and routines. It isn’t common speak remedy. While you mix all of those evidence-based instruments, we’ve seen fairly superb successes on the well being outcomes facet.

Knox: When you have been on the founding group of a number of startups, that is probably the most private connection that you have needed to a enterprise. How’s that modified your expertise as a founder and as a frontrunner?

Russell: I’ve spent plenty of the final 11 years in know-how, leveraging know-how to make issues simpler, easier, and more economical for folks. I’ve by no means had an organization or an expertise the place we constructed one thing that truly saved folks’s lives and households. Seeing the response from our members and the letters that get written in present we’re in a position to attain folks and really make a distinction within the trajectory of their lives. We have gotten to know folks, and it is simply such superb, courageous folks which are members of Monument. To me, that’s the most rewarding expertise I’ve ever had in a enterprise. It’s really superb to see how what we’re engaged on day by day is making a major impression on folks’s lives.

Knox: During the last two years, telehealth has had its second within the solar due to the pandemic. What impression did which have on Monument?

Russell: We have been in beta in January 2020 and we launched publicly in Could amidst the pandemic. Sadly, there was an excessive enhance in alcohol consumption in the course of the pandemic. By whole coincidence, we have been delivering a service that actually helped folks on the time they wanted us most. Second, shoppers have been keen to undertake applied sciences whereas remoted in the course of the pandemic, when they could not have in any other case. That gave Monument and plenty of direct client healthcare firms a decrease barrier to trial than ordinary. Folks have been consuming loads, they have been caught, they have been reduce off from their prior remedies, they usually have been in want of assets. We initially have been going to take a look at therapist-moderated assist teams as a method to generate income. However once we seemed on the panorama, we have been like, “We bought to get this out as quickly as attainable, and free of charge.” So we determined to subsidize the price of the therapist moderated teams as a enterprise, and provide them free of charge. That drove enormous progress and engagement in our free neighborhood. After which folks began becoming a member of therapy, which could be very reasonably priced relative to different choices. We have been in the suitable place on the proper time to assist folks, and I’m so grateful we have been ready to take action. 

Knox: How are you persevering with to distinguish Monument as you develop?

Russell: There are such a lot of completely different healthcare challenges that may be tackled. You’ll be able to construct know-how to ship higher therapy, less expensive therapy, attain extra folks, break down among the obstacles of the healthcare world. We’ve got a singular give attention to alcohol use dysfunction. There are 40 million People that drink an excessive amount of per the CDC. That is lots of people right here. And worldwide, it is astronomical. So we will proceed to remain centered on treating alcohol use dysfunction. We will proceed to remain hyper-focused on our North Star KPI; well being outcomes. We’re not simply trying to develop a enterprise or develop income. We need to be certain that on the finish of the day that members that be a part of Monument are getting higher. And so they’re getting higher at a quicker price than wherever else on the planet. And I feel our particular vertical focus and our give attention to well being outcomes shall be what units us aside on the finish of the day.

We have a look at alcohol use dysfunction as a continual medical situation. You’ll seemingly take medicine, or a minimum of take into account it, when you have been sick. That is how we method it. Primarily based upon my scenario and others that we’re seeing, I consider this may be successfully handled by medicine and remedy. We additionally acknowledge that altering your consuming is a non-linear journey, and encourage folks to remain linked to Monument. The therapy instruments can change over time, and we’re right here to offer ongoing, versatile assist in order that success charges keep excessive, relapsing stays low, and folks can take pleasure in a wholesome, happier life.

Knox: Why did you make the selection to launch B2C as a substitute of B2B?  

Russell: Pre-pandemic, everybody thought this wouldn’t work. Every little thing in healthcare, predominantly, was B2B. We’d hear that “B2C does not work.” My thought was actually that, “It does work when you’ve gotten any person that’s so scared to speak in regards to the stigma round habit, or to speak to an employer about habit.” I’ve heard of individuals paying out of pocket, tens of hundreds of {dollars}, after they have the insurance coverage that will cowl it. Simply because they do not need their employers to seek out out. My thought was that we have to construct one thing that is extraordinarily non-public, very reasonably priced, and efficient, that offers folks consolation and aid. And we have to go on to the folks to begin, and we have to construct belief that method. Finally, that ended up being the suitable choice. We’ve got over 30,000 folks on the platform proper now. Individuals are becoming a member of at increased charges day by day. Going direct to shoppers in a very hypersensitive space like substance use helps construct model and belief, and you’ll tackle B2B afterward. 

Knox: Concerning that hypersensitivity, how is Monument serving to break that stigma?

Russell: In all of the messaging and every part we do, we remind those that alcohol use dysfunction is a medical situation. The way in which your mind chemistry works, or no matter it’s that drives alcohol use dysfunction in some folks, and never others, is influenced by organic, psychological, and social components. There isn’t a disgrace in that. We actually attempt to hammer that dwelling. And we join folks to compassionate and skilled therapists and physicians to offer care. So fairly than shaming folks, or making them really feel dangerous, we assist empower them. We assist educate them. We wish them to really feel actually good about taking that first step in becoming a member of Monument, or any therapy. As a result of that first step is so arduous. It is so arduous, due to the stigma, and the dialogue round alcohol use. 

We additionally attempt to begin this variation in our tradition as an organization. None of our occasions are constructed round alcohol. While you take alcohol out of the equation, you’ve gotten superb actions that construct bonds at a special stage between staff. Simply take away alcohol from the middle of every part, and let folks attempt new issues and be ok with going to occasions and be ok with themselves.

Knox: As we transfer into 2022, what’s subsequent for Monument?

Russell: Proper now, we’re very a lot centered on rising the patron base. But additionally, it is necessary to everybody at our firm that that is one thing that’s reasonably priced or free for everyone. We are attempting to indicate that we are able to ship increased high quality care at a fraction of the fee. Not simply decrease price, however higher therapy. Section two is working with companions throughout the payer panorama, and sections of the federal government, to determine how we get this completely coated, or reasonably priced for everyone within the U. S., and finally the world. As a result of folks should not have particular therapy or entry to care based mostly upon the place they stay, demographics, or earnings ranges. It must be an equal taking part in discipline, and everyone ought to have entry to Monument. That is going to be a very large focus for us. Now that now we have information round success and a rising member base, now we have the levers to begin going out and actually discuss partnerships, price discount, and full protection of price for folks going ahead.

Knox: Any parting recommendation you’d give to your fellow entrepreneurs and founders?

Russell: Do one thing you like and that is rewarding to you. I feel that is one of the simplest ways to rise up and go to work day by day. Monument is ardour pushed. While you’re pushed by ardour, the percentages of success go up considerably. As a result of with this enterprise, we won’t fail. Folks depend on us. Individuals are utilizing it, they usually’re folks we have to attain. They depend on us, and we should ship for them.