Modern Health is a digital health platform that aims to help people get the right information about how to improve their health. The company’s founders have a mission to promote health and wellness for all. They aim to do this through a wide range of products and services. While some of their offerings are more niche than others, they are all in line with modern health’s core values. Those values include a focus on diversity, equity, inclusion, and belonging.
Headspace
Headspace and Ginger have combined their values, visions, and technologies to launch a new company: Headspace Health. Both firms offer digital solutions for mental health and wellness. This merger will expand the reach of each company to over 100 million consumers.
The merger between these two companies is expected to close in the last quarter of 2021. It will add nearly $300 million in combined bookings by 2021. With a valuation of more than $3 billion, the combined company will have the largest data set in the industry.
The merger is expected to allow the combined company to provide a comprehensive suite of digital mental health services to users of all walks of life. This will include a range of mental health offerings from on-demand video therapy to behavioral health coaching.
Headspace and Ginger will combine to create a company with more than 800 employees and a valuation of around $3 billion. Their combined company will be in the upper echelon of large employee mental health support providers.
Headspace is a consumer meditation app that helps users manage stress and thoughts. With a subscription, members can access a wide range of guided meditations and exercises. Some meditations focus on resilience, sleep, and compassion. These meditations help users to manage feelings and create conditions for a restful sleep.
Headspace also offers mindfulness products to government organizations, health plans, and non-governmental organizations. The company has also forayed into the workplace by developing a business-to-business program. Headspace partners with top research institutions to develop these products.
With the integration of the two companies, Headspace Health will have the ability to offer a more comprehensive suite of digital mental health services to consumers and employers alike. For example, Headspace Health will offer an expanded EAP. In addition to mental health care, the EAP will include work-life services like critical incident support and manager consultations.
Lyra Health
Lyra Health is a digital benefits platform focused on behavioral health. The company offers a suite of services that connects employees with mental health coaches and therapists. It also provides an array of research-based self-care resources.
Lyra’s platform pairs video therapy sessions with personalized digital lessons based on cognitive behavioral therapy. It also measures users’ progress with clinically validated assessments.
Lyra Health also serves as an Employee Assistance Program (EAP), providing support for employees and their families. In addition, it offers free tools for legal, ID theft and financial consultations.
Lyra is working to expand its global strategy. It plans to support more employers with mental health benefits, while accelerating its delivery of evidence-based mental health benefits.
Today, Lyra provides behavioral health services to over two million members globally. Through a network of more than 85,000 providers, it offers care to adults, teens and children.
The company employs its own therapists, who are paid for their services. A representative from Lyra declined to comment for this article. However, BuzzFeed News did speak with seven therapists at Lyra. They reported that therapists felt overlooked and often treated like second-class citizens.
Therapists also said that data collection was a major concern. Early Lyra employees reported that they were unable to recruit therapists because of concerns about the use of patient data. Some therapists said that Lyra’s bonus structure could push staff to “churn out” patients quickly, without sufficient time for care.
According to the company, Lyra’s surveys are sent to patients, asking them to rank their intensity from 0 to 3. Patients answer questions that are clinically validated. This helps the company determine what type of care is most effective for each individual.
Twill
Twill is a company untangling the myriad strands of care that weave in the digital and the human. They’ve partnered with health plans, pharma companies, and insurers to deliver on their promise of delivering better care at lower cost to patients and caregivers alike. It’s a win-win proposition.
Twill’s Intelligent Healing platform enables the savvy health care consumer to leverage their unique clinical profile, personal preferences, and digital assets to augment customer offerings and deliver intelligent journey management. It’s designed to be purpose-built for the broadest array of medical conditions. The company has a clinically validated platform that provides a global catalog of interventional and wellness products and services.
The company also offers an app that features some nifty health and fitness related tools, as well as games and activities. Soon, they’ll be introducing some of the same features to address ailments like psoriasis and multiple sclerosis.
The aforementioned app has been mentioned by 6 research briefs at CB Insights, including one highlighting the company in their aptly named Expert Collections. This is a great example of how Twill is leveraging their own unique brand of clinically validated digital technology to deliver on their promise of better care at lower costs.
The company has been able to double its revenue in a matter of months and has a solid footing in the market. Twill will continue to make their mark in the coming years as they expand their vision of Precision Care. They’ve recently announced a pivotal new partnership with e-Psychiatry, a national leader in telepsychiatry. With a full suite of mental and physical health solutions, they can help companies and their employees meet their wellness and health care goals.
Diversity, equity, inclusion, and belonging (DEIB) has been core to Modern Health’s values
Diversity, equity, inclusion, and belonging are business functions that help organizations to improve performance and financial outcomes. As a result, many businesses have invested in DEI programs. However, they often fail to realize that these initiatives are difficult to implement. Creating an inclusive environment requires active, intentional, ongoing efforts, and leadership that is committed to fostering a culture of diversity, fairness, and inclusivity.
Inclusion is the process of making staff with diverse backgrounds feel valued and treated fairly. It also ensures that each team member is given equal access to employment and advancement opportunities.
Equity refers to removing institutional barriers that prevent employees from achieving their full potential. Among the most important factors that contribute to the success of a company are pay and benefits, and the ability to attract and retain top talent.
Having a diverse workforce can create a more productive, engaging workplace. While it is not possible to hire employees from every group, recognizing and implementing policies and practices that promote inclusivity can significantly affect how teams perform.
Embracing diversity can help your organization to make a meaningful and lasting impact on society. Specifically, it can be beneficial to your employees’ mental health.
Building an inclusive environment involves a number of practices and policies, including hiring practices that make it easy for people of different backgrounds to join a team. This is particularly important for attracting millennials, who actively avoid companies that do not have a diversity and inclusion strategy in place.
The first step to creating an inclusive work environment is recognizing and articulating your individual and collective perspective. You must evaluate how the marketplace, your business strategies, and your own power affect your ability to foster an inclusive culture.
Investors
Modern Health is a virtual mental health care platform that helps employers provide comprehensive, cost-effective mental health benefits to their workforce. The company offers evidence-based psychological assessments, a suite of products and a global network of certified behavioral health coaches.
Modern Health is headquartered in San Francisco and serves more than 190 enterprise customers worldwide. In the past year, the company has doubled its revenue and tripled its headcount. It has also expanded its offerings to include major brands like Pixar and Clif Bar.
Modern Health is a technology company whose core offerings are psychological assessments, virtual coaching, career coaching, and stress management. As part of its mission to improve workplace productivity, it will expand its provider network, add new solutions, and create customized mental-health management tools.
Its mental-health offerings have been proven effective for both individuals and organizations. A recent survey found that nearly 60% of American workers had symptoms of a diagnosable mental health condition in the prior year.
While most employees don’t talk about their mental health in the workplace, more and more companies are focusing on preventative care and encouraging employees to take care of themselves. With over $190 billion in employee burnout costs every year, it’s becoming increasingly important for leading businesses to help employees feel better.
Earlier this year, Modern Health announced that it would launch a new sales organization and expand its provider network. These efforts are set to help the company maintain its upward momentum.
The company is currently hiring dozens of tech professionals in its office in San Francisco. LinkedIn lists more than 720 Modern Health employees across the globe.