Monument

Monument Inc. is a telemedicine company headquartered in New York City that provides virtual medical and mental health care through video appointments. Its original focus was online treatment for alcohol use disorder, delivered through therapy sessions, physician appointments for medication prescriptions, and online support groups conducted entirely over video calls. The current platform positions itself more broadly as a single service covering both physical and mental health needs, pairing each member with a licensed therapist and a medical doctor.

Patients select their state of residence, describe their reason for seeking care, create an account, check insurance eligibility using their plan and member ID, and book one-time or recurring appointments (weekly or every other week for therapy). Prescriptions are sent to the patient's preferred pharmacy. The service emphasizes continuity, with members able to remain with the same therapist and doctor over time; therapists handle mental health goals while physicians manage prescriptions, medication adjustments and related medical needs. Support is provided by email and phone during weekday office hours.

Monument was founded by entrepreneur Mike Russell, who started the company after selling a prior startup, Paintzen, and recognizing his own struggles with binge drinking and alcohol use disorder. By 2023 the company reported at least 100,000 registered users.

Founding story

Mike Russell founded Monument in New York City after selling his third startup, Paintzen, and recognizing that he was a binge drinker struggling with alcohol use disorder; the company raised seed funding in 2019 and launched in early 2020.

Business model

Monument sells virtual clinical care directly to consumers, billing health insurance where the patient is covered and charging a flat cash-pay rate otherwise. It also markets the same platform to employers as a benefit, positioning it as whole-person mental and medical care without per-employee-per-month fees or setup fees.

Per-visit fees. Insured patients typically pay $25 per therapist or doctor video appointment (a price that includes a prompt-pay discount, with a refund of the difference if the patient's cost is lower), while uninsured or out-of-network patients pay a flat self-pay rate of $100 per session. Monument is in-network with Carelon, UHC/Optum, Cigna/Evernorth and Aetna, plus additional state-specific plans.

Traction

The company reported at least 100,000 registered users by 2023 and advertises a 4.8/5 rating across more than 87,000 appointments.

Latest developments

Monument currently markets a combined medical and mental health telehealth offering at $25 per video visit with insurance ($100 self-pay), with in-network coverage from Carelon, UHC/Optum, Cigna/Evernorth and Aetna plus state-specific payers, and an employer-facing plan with no setup fees or PEPM charges.