Valera Health, a virtual mental health platform, has recently become an in-network provider for Humana Medicare Advantage members in 10 U.S. states. The company plans to expand nationwide in September.
Valera Health specialises in offering a virtual platform for individuals aged six and above with serious mental illness and severe depression. The company connects patients with a health coach who assists them in finding a therapist or doctor suitable for their needs.
Operating from New York, Valera Health follows a team-based model that includes nurse practitioners, licensed therapists, case managers, and psychiatrists. Clients can access providers through the Valera app, and the company also provides a library of mental health resources.
Cassie Gochenaur, Humana's associate vice president of Behavioral Health, expressed enthusiasm about the partnership with Valera Health, emphasising the goal of meeting the behavioural health needs of their Medicare Advantage population. Strong partnerships with providers offering both in-person and virtual care play a crucial role in delivering quality and timely care to Humana's members.
In terms of industry trends, Valera raised $15 million in funding in 2021 and secured $44.5 million in growth equity financing the previous year. Mental healthcare continues to be a significant component of telehealth utilisation, with an increasing proportion of telehealth claim lines dedicated to mental health diagnoses. Several other virtual platforms, including Iris Telehealth, Sensible Care, and UpLift, also offer high-acuity mental healthcare services.
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