Health (7 days ago) WebLyra supports your people with: Instant access to individualized care, from self-guided programs and mental health coaching to therapy and medication management Care options that suit personal preferences , Health (5 days ago) WebLyra, which offers an easy-to-use digital platform to connect people with mental health providers, has around 1.5 million members so , Health (5 days ago) WebLyra Health offers its mental health platform to companies as a benefit for their employees. With the fresh capital, Lyra plans to accelerate its delivery of evidence-based mental health benefits for companies with employees located around the world. BURLINGAME, Calif., Jan. 19, 2022 /PRNewswire/ -- Lyra Health, the leading provider of innovative Workforce Mental Health solutions for employers, today announced it has . The former Facebook executive, who was previously the financial chief at Genentech before arriving at Mark Zuckerbergs social network, said he decided to start Lyra after having a difficult experience finding care for a family member. The tech industrys growth-at-all-costs outlook may not translate well to a field as delicate as mental health. As the company continues its rapid expansion, Lyra can focus on its mission of transforming mental health care knowing . Employees also appreciate Lyras ease-of-use. Thats going to be based on the patient and my discretion.. The company has also had a history of its clinicians feeling overlooked, two former employees said. Jennifer King, privacy and data policy fellow at the Stanford University Institute for Human-Centered Artificial Intelligence, said theres the legal process of gathering consent, and then theres the moral question of making sure people fully understand. Lyra Frequently Asked Questions (FAQ) What is Lyra Health? - Synopsys Lyra Health is changing mental health care in America - Fast Company Based in Burlingame, California, Lyra Health is a digital technology company that helps workplaces connect employees and their families to behavioral health services, partnering with behavioral health providers to make it possible. Lyra drives tangible results Employee Engagement 10x engagement compared to traditional EAP services Employees in Care 10% of eligible employees receive care with a Lyra provider Improved Workforce Health 88% of Lyra members clinically improve or recover from symptoms of anxiety and depression* *based on the PHQ-9 and GAD-7 clinical measures Employer-focused behavioral health startup Lyra scores $200M We serve these very large, US-based, multinational organizations, and one of the problems theyre trying to solve is how to deliver mental health care to a global employee population. Today Lyras U.S. network includes more than 5,000 providers, and its global network, through a partnership with ICAS, includes 85,000 additional providers across 180 countries. It can get dicey in terms of ethics, Reddy said. Stephanie leads people operations, recruiting, total rewards, and HR business partners at Lyra. Lyra developed an AI-enabled technology platform to match patients with the providers best suited to treat their specific needs. Worldwide, 970 million people are living with mental health issues. Starbucks bills its Lyra benefit as mental healthcare for a wide-range of needs, from mild to complex. But Rojass experience reveals one way patients can feel underserved by a startup aiming to be a model for modern mental healthcare. In interviews with BuzzFeed News, 18 users, therapists, and former Lyra employees voiced concerns about some of the companys business practices, including its productivity-based bonus structure for therapists and its use of patient data. Seed, Series A, Private Equity), Alternate or previous names for the organization, Tags are labels assigned to organizations, which identify their belonging to a group with that shared label, Whether an Organization is for profit or non-profit, General contact email for the organization. A third-party analysis shows Lyra can help reduce medical claims, improve utilization, and reduce spending. For conditions like anxiety and depression, it uses a blended care model that pairs virtual therapist visits with online videos and exercises to reinforce lessons between sessions. Burlingame, Calif.-based Lyra Health, which just raised $200 million at a $4.6 billion valuation, is cashing in by filling the void: offering mental health benefits to large employers that. Prior to Lyra, Sean worked at Castlight Health, the National Economic Council, and the Brookings Institution. Lyra Health Pricing Plans & Cost Guide (Oct 2019) - ITQlick Tech giants like Facebook and Google often weather criticism for taking liberties with peoples personal information, but the business model behind startups such as Lyra has received less scrutiny. By data. The number one thing is continued interest in new partnerships to drive better solutions for people [accessing] mental health care, and were continuing to see a lot of interest from large enterprises. The process to access care usually starts online. Lyra, which offers an easy-to-use digital platform to connect people with mental health providers, has around 1.5 million members so far, adding more than 800,000 people since the start of the pandemic. January 19, 2022. Lyra did not address these allegations and Facebook declined to comment. Connie leads product, clinical operations, and research at Lyra. Lyra Health. How long does it take to use Lyra? For Lyra Health, a mental health care benefits startup with unicorn status, not only has the company weathered the headwinds of the economic downturn, but thrived in them as well. You see that in the buildout of our provider network and in the buildout of our platform, which was really about redefining access. Then, in December, Keiser pre-filed legislation that aims to give workers more rights when it comes to EAPs. That funding helped push Lyras total valuation above $1 billion, making it one of a very few unicorns in the behavioral health spaces. Veterinarians face higher rates of serious psychological distress and as many as one in 6 U.S. veterinarians have considered suicide, according to the CDC. Health Insurance For Mental Health Is Terrible. This $4.6 Billion Our huge technology companies don't hold personal privacy with the same regard that I think they should, Keiser told BuzzFeed News. Thats where one of Lyras flagship products comes in: Blended Care. Headspace and Ginger were founded in 2010 and 2011, respectively. He was previously president of markets at Cityblock, and formerly served as CFO and chief strategy officer of the Massachusetts Medicaid program. Prior to joining Lyra, she was the co-founder and chief medical officer at Vida Health. Lyra Health Stock Price, Funding, Valuation, Revenue & Financial Statements Meet the technologists, mental health experts, and business leaders driving the strategy behind Lyra. He also worked at General Catalyst, Bain Capital, and McKinsey. Lyra charts patient progress longitudinally and shares it back with our providers to enable feedback-informed treatment. Google and Starbucks confirmed they receive data from Lyra in order to judge the services value to employees. Receive industry updates and breaking news from Behavioral Health Business, more employers are offering mental health benefits, according to the fundraising tracker Crunchbase, Payers Must Create Infrastructure to Support Behavioral Health Providers Moving Towards Value-Based Care Contracting, CVS Health to Staff MinuteClinic Locations with Licensed Mental Health Providers, As UnitedHealth Group Looks to Deploy Capital on Provider Acquisitions, More Behavioral Health Deals Could Be Coming. Innovative talent drives the aging industry forward. Lyra Health's Annual Report & Profile shows critical firmographic facts: What is the company's size? How Much Does Lyra Health Pay in 2023? (366 Salaries) Before the pandemic, the trends were shifting in favor of both increased use of telemedicine and behavioral health services, but no one could have predicted just how rapid the acceleration would be. Lyras supporters cite good wages for therapists, a well-built software platform, and the awareness the company has brought to people who might not have otherwise sought therapy. Lyra Health is , Health (3 days ago) WebLyra Health's annual revenues are $100-$500 million (see exact revenue data) and has 100-500 employees. endobj He holds an Honours degree from Wits University and an MA in Clinical Psychology from the University of Natal. While therapy and psychiatry are available through Ginger, coaching is the companys most popular level of care, according to co-founder and COO Karan Singh. BURLINGAME, Calif., June 14, 2021 /PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care , Health (4 days ago) WebIn the latest development, it emerged that Lyra Health, a platform that focuses on providing workforces with mental health care, has filed paperwork to raise a , Onesource passport health provider login, Government employee health association geha, Assisted living mental health facilities, Jefferies london health care conference 2022, Advent health shared services phone number, Best short term health insurance colorado, Maxhealth bradenton physicians patient portal, Department of health federal government, Health disparities environmental factors, 2022 health-mental.org. Lyra supports your people with: Instant access to individualized care, from self-guided programs and mental health coaching to therapy and medication management Care options that suit personal preferences and lifestyles, including in-person, video conferencing, and text messaging Jun 14, 2021, 08:00 ET. While more and more employers are offering mental health benefits, that doesnt always translate into opportunities for traditional behavioral health providers. Their latest funding was raised on Jan 19, 2022 from a Series F round. Lyra Health Completes $235M Funding Round, led by Dragoneer, to Fuel Funding. Google then demanded and received the notes as well. So the bottom line is money, said one former Lyra employee who worked on the companys clinical team. That type of acceleration has been really inspiring to see. The San Francisco-based virtual behavioral health care system delivers text- and video-based mental health services to users, including behavioral health coaching, therapy and psychiatry. SUCCESS STORY Lyra Health is the leading provider of global workforce mental health care benefits. By comparison, Headspace which provides virtual meditation and mental fitness products and resources has raised just over $168 million, while Ginger has raised $70.5 million, Singh previously told BHB. One of the biggest challenges in the $280 billion behavioral health market is access, given that only a fraction of the people that actually need care, get it, says Thomas Bremner, partner at Adams Street Partners. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. The surveys, which use clinically accepted and standardized questions, are optional. Glassons former therapist didnt respond to multiple requests for comment. Some patients and therapists didnt mind the data being shared anonymously, since it might be valuable for a company to know if its workforce is depressed or riddled with anxiety. The San Francisco , Health (5 days ago) WebLyra whose juggernaut slate of corporate clients also includes Google, Facebook parent Meta, and Morgan Stanley is one of the leaders in a wave of startups focusing on mental health, applying , Health (2 days ago) WebLyras tools and services are compliant with HIPAA laws. Our aim is to revolutionize behavioral health care not only for employers, but for providers, too.. Our privacy policy is standard format and provides detailed information about our practices.. Since then, more than 300 leading companies have partnered to offer Lyras mental health benefits to their employees, including Meta, Pinterest, and Starbucks, giving more than 13 million people access to life-changing care. Lyra offers its customers access to a curated network of both virtual and in-person mental health providers, along with a virtual platform that aims to help people get better faster through evidence-based methods like cognitive behavioral therapy. Lyra Health - Funding, Financials, Valuation & Investors The company's behavioral health transforms behavioral health care with a human touch and helps people feel emotionally healthy . It is classified as operating in the Management, . BuzzFeed News interviewed eight current and former Lyra therapists, and six of them said they did not know about the data sharing. Read the article below in order to calculate the total cost of ownership (TCO), which includes: customization, data migration, training, hardware, maintenance, upgrades, and more. It was an opportunity for positive change.. Lyra Health revenue is $52.7M, valuation more than $1.1B Lyra also offers mental health coaching which are sessions for patients with mild symptoms that do not rise to a clinical diagnosis as more of a preventative measure. Covid wasn't the beginning of the mental health epidemic that we face. per-member-per-year reduction in health care claims costs. He holds an MBA from Harvard Business School and a BA in chemistry from Princeton University. In an October op-ed for Insider, she called for more transparency in the relationship between third-party mental health providers and employers. Rojas, a 25-year-old shift supervisor in Buffalo, New York, had been dealing with gender dysphoria and body image problems, two issues he says compound each other like a snake eating its tail. So Rojas jumped at the coffee giants offer of 20 free counseling sessions from Lyra, a Silicon Valley darling cofounded and led by former Facebook CFO David Ebersman. So the bottom line is money.. stream Innovative talent drives the aging industry forward. Behavioral Health Business (BHB) is the leading source for news and information . Join Lyra and hundreds of HR leaders for our two-day, in-person conference to "break through" the tough issues surrounding workforce mental health. Sands Capital and the company's existing investors also participated in the raise. Facebook and Morgan Stanley declined to comment. The average Lyra Health hourly pay ranges from approximately $25 per hour for a Client Support Specialist to $33 per hour for a Therapist. The increase year over year was primarily driven by higher clinical development costs related to the Company's three ongoing . The $110 million Series D raise comes on the heels of a $75 million Series C closed in March. A study published in the Journal of Medical Internet Research, led by Lyras director of clinical product Anita Lungu, recorded a significant decrease in anxiety or depression symptoms after 5 sessions among 385 patients, although it did not include a control group. Its really difficult just to find a provider thats going to be available for an appointment, [or] a provider thats offering the kind of services you need. Lyra has demonstrated, through peer-reviewed research, that its model helps people improve their mental health conditions more quickly than traditional approaches. Lyra makes it easy to prove the ROI of your mental health investment. Around one in four U.S. adults suffer from a diagnosable mental health condition and depression is one of the leading causes of disability worldwide. <> Lyra is an employee wellness solution that enables employees to receive care for their emotional and mental well-being. This isnt an assembly line. One of the former therapists, Megha Reddy, said the bonus model can push therapists into churning out patients quickly. Junto Health High-flying startup Lyra Health banked $200 million in new funding to raise its valuation to a reported $4.6 billion. BHB is part of the Aging Media Network. The Burlingame-based company will use the money to continue international expansion. That is a component of our goals around expanding our provider network, both in numbers and diversity. Lyra's platform helps members identify the particular services that are available and that they are best suited for through an algorithmic process known as intelligent matching technology, which pairs users with therapists, coaches or physicians specializing in mental health or addiction treatment care. While it provides both in-person and online therapy, its telehealth-first. By Nick Jaworski / May 13, 2021 Telehealth is all the rage since the start of the pandemic with many startup providers receiving sky-high valuations. Learn More. Lyra is for everyonefamilies, couples, adults, teens, and children as young as 2. Lyra shows no signs of slowing down in the new year. This was done so that our best and most productive therapists have the opportunity to earn more, CEO Kyle Robertson said in response. Thats our plan for the foreseeable future. I'm a senior writer covering healthcare technology. SaaS, Android, Cloud Computing, Medical Device). We want to expand those options. It is classified as operating in the Management, Scientific & Technical Consulting Services industry. Lyra Health has 5 employees at their 1 location and $890.1 m in total funding,. One former Facebook employee, who worked on privacy initiatives at the tech giant, was concerned the data could be abused even if aggregated and anonymized. Active, Closed, Last funding round type (e.g. Lyra Health gets $235M, soars to $5.58B valuation with new acquisition After employees use all of their free sessions, they can continue seeing their Lyra therapist by paying out of pocket or through health insurance. Lyra is an alumnus of this year's Forbes Next Billion-Dollar Startups list and is the third company from the 2020 list to cross the $1 billion. Nominate a behavioral health future leader who is spearheading the transformation of one of the fastest-growing segments in the healthcare continuum. 2023 State of Workforce Mental Health Report, Why Culturally Responsive Care Must Be Part of Your Mental Health Benefits Strategy, Diversity, Equity, Inclusion, and Belonging, Lyra raises $75 million in Series C funding, 2020 list of the Worlds Most Innovative Companies, Limit the Use of My Sensitive Personal Information. Some of Lyras corporate partners include Uber (NYSE: UBER), eBay (Nasdaq: EBAY) and Amgen (Nasdaq: AMGN), among others. Lyra expects to help more than 2 million people with their mental health problems by the end of this year. It usually takes less than 5 minutes to complete the online assessment and get , Health (Just Now) WebFunding. Were in a really strong financial position right now. Divaldo Pereira de Lyra Jr 6 Affiliations 1 . 4 0 obj Lyras provider network is unique to each market in which it operates. It would also make it illegal for an employer to obtain individually identifiable information about an employee. Jan 19, 2022, 08:01 ET. This is actually people, Reddy said. Learn what 2,500 employees and 250 benefits leaders had to say about workforce mental health in our 2023 report. Lyra would not exist if it were not for the incredibly talented and caring providers with whom we partner, Renee Schneider, vice president of clinical quality at Lyra told Behavioral Health Business. Vanderhorst said providers are the ones that determine how many sessions a patient needs. Through our clinician-led workshops, interactive online courses, and other tools, Lyras experts will help you decrease stigma, address tough challenges such as employee burnout, and embrace diversity, equity, inclusion, and belonging. That, in turn, allows Lyra to offer member employees various levels of care, from coaching to more intensive in-person therapy. They should be able to select whether they're willing for their outcomes to be reported, she said. Along with the raise, which brought the company's total funding to more than $910 million, Lyra Health also . Five years later, Lyra is rapidly expanding, and by the end of this month expects to have delivered its one-millionth session. Lyra's matching technology and innovative digital platform connect members to a curated network of top therapists , Health (6 days ago) WebLyras model is relatively unique when you compare it to other startups offering employee mental health benefits. Lyra helps companies improve access to effective mental health care for their employees. We basically started an industry. Before they made the switch, employees were complaining they couldnt get timely access to care. Google does not access the medical records of people using Lyra Health, and we have no special access, Google spokesperson Jennifer Rodstrom said in a statement. After that, Glasson said, her therapist called and indicated she was no longer comfortable seeing her. 11:47 am. Behavioral health is one of the defining problems of our time. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. Some Lyra therapists were not aware Lyra shares outcomes data with employers, either. Glasson, who is based in Seattle, filed a complaint against her therapist, and the situation is now under investigation by the Washington State Department of Health, according to emails viewed by BuzzFeed News. Lyras solution combines one-on-one video sessions with digital exercises to reinforce cognitive behavioral therapy lessons. Meanwhile, Lyra connects its members with partner providers who offer various levels of care in various settings. The solution uses screening tools to identify people at risk of behavioral health issues and then engages with them to provide care services. Lyra vs Modern Health vs Ginger: What's the Best Mental Health Platform Along with technology, Jennys passion lies in growing people and teams to tackle challenges with creative solutions. The company frequently cites a retrospective study of 385 Lyra patients published in the Journal of Medical Internet Research, which found its blended model helped 83% of participants improve anxiety or depression over a 6-week period. Lyra Health's latest post-money valuation is from January 2022. Other mental health startups have also reportedly incentivized productivity from therapists. The Burlingame, California-based company expects to hit more than $100 million in revenue by the end of the year, and the latest funding round brings its valuation to $1.1 billion, according to a company representative. Just as they have access to an acupuncturist or physical therapist, we encourage our employees to consider Lyra part of their holistic care team.. Diversity Spotlight (US Headquarters Only), Edit Lists Featuring This Company Section, Pelican Products Partners with Lyra Health to Expand Mental Health Services for Employees, Forecast: 15 Startups We Think Could Go Public In 2023, Telehealth Startups Pivot (Yet Again) As Employer Benefits Get Reevaluated In Layoff-Looming Economy, Western US Information Technology Female Founded Companies, Health Care Late Stage Companies With More Than 10 Employees, West Coast Information Services Female Founded Companies. Depression and anxiety disorders lead to $1 trillion in lost productivity worldwide each year, according to the World Health Organizationand that was before the Covid-19 pandemic. Lyras growing list of corporate clients includes eBay (Nasdaq: EBAY), Morgan Stanley (NYSE: MS), Uber (NYSE: UBER) and Zoom (Nasdaq: ZM). The veterinary profession as a whole has some really unique challenges, says VCAs director of associate well-being Johanna Baldwin, including compassion fatigue and burnout. Lyra Health Helps Providers Improve, Capitalize On Employee Mental Discover job postings and attract candidates across the post-acute and senior care continuum. Previously, Stephanie was an HR executive at Gusto, overseeing internal communications, people operations, total rewards, and people analytics. EDITOR'S NOTE: This story has been updated to reflect Lyra He | Mental health benefits provider Lyra Health grabbed $235 million in a series G round that boosted its valuation to $5.58 billion. Lyra Health and commercializing the behavioral health sector - FlowBank Network with thought leaders and discover solutions to todays tough issues in workforce mental health. Kyle Coward is a former mental health professional with more than a decade of experience as a freelance writer. Lyra Health Introduces New Innovations in Care for Alcohol Use Disorder Lyra whose juggernaut slate of corporate clients also includes Google, Facebook parent Meta, and Morgan Stanley is one of the leaders in a wave of startups focusing on mental health, applying Silicon Valley's data-absorbed ethos to the discipline of therapy. He said he had to constantly re-explain things hed gone over in previous sessions, which made him relive the same traumas every time he had to repeat them. Lyra Health - Wiki | Golden Lyras total contracted member base is around 2.2 million people globally, though not all those people are using Lyras services. Lyra Health scales with Stripe, easily handling 200% growth in payment transactions. One-third of people couldnt find any mental health prescriber who would accept their insurance.