During the pandemic there were many companies in the mental health space that made a heap of money, including Lyra Health, which helps companies improve access to effective mental health care for their employees. That included a $75 million in March 2020; $110 million in August 2020; $187 million in January 2021; and $200 million in June 2021.
While not all of those companies were able to maintain their momentum in the years after, Lyra not only continued to raise money, with another $235 million in 2022, but it also added over 800,000 new members, bringing its total membership to over 1.5 million.
Now the company has announced that is going all in on artificial intelligence with a new AI-platform called Lyra Empower, which brings all of its artificial intelligence tools and features onto one single platform, while also announcing new AI features for HR, members, and providers.
Founded in 2015, Lyra Health is a provider of mental health benefits for employees and their dependents in the U.S. The company uses matching technology and a digital platform to connect companies and their employees, along with their families, to therapists, mental health coaches, and personalized medication prescribing.
Among the new products and features that Lyra plans to roll out over the next 12 months include Lyra Connect, a predictive insights engine for HR that provides an anonymized, aggregated, and real-time view of employee mental well-being.
That includes AI analysis that compares workforce information against peers, industries, and evidence-based best practices, along with predictive analytics to help HR leaders plan. As the data is provided in real-time, it allows for quick response to external crises or workplace issues. In addition, Lyra Connect includes expanded evidence-based tools and resources address the specific issues impacting a region’s population in the local language and are adapted to cultural norms.
Meanwhile, for members, the company is enhancing Lyra Care, its proprietary care model that combines evidence-based therapy with personalized support between live sessions that was first introduced in 2016. Going forward, Lyra Care will more intelligently anticipate member care needs, match them with the right provider, recommend supportive resources, and coordinate care across benefits.
The company is also adding four new features to Lyra Engage, its AI-enhanced Care Delivery System for providers that streamlines scheduling, documentation, and outcomes tracking. Those include enhanced predictive risk flagging, a new safety monitoring system that allows providers to engage members at the earliest signs of risk, as well as personalized patient communication, using AI to support providers in sharing personalized summaries after each session. Other features include connected documentation and scribing, assisting providers in generating session notes, and instant online booking for every provider, so that members can easily book online with providers across the Lyra network, with appointment reminders and calendar management.
Finally, the company is introducing Lyra Link, which builds on the company’s Integrated Benefits Ecosystem, introduced in 2023, in which benefit recommendations were personalized to each member based on their clinical needs and situation. Now, for example, if a weight loss benefit is integrated, a specialist helping a member with diabetes management can coordinate with a Lyra therapist to ensure mental health needs are addressed alongside physical care.
Using AI is not new for the company; as Chief Technology Officer Jenny Gonsalves,, wrote last year, it has been part of Lyra’s mission from the beginning, using artificial intelligence to match clients with providers for nearly a decade.
“At Lyra, we’ve been investing in AI-powered mental health care since 2016 with a thoughtful, intentional, and measured approach. As I discussed in my January 2024 blog, we are committed to continue investing in AI to improve the client/“patient” experience and to make a meaningful impact on the care journey and outcomes. We are also now incorporating AI into more parts of our providers’ workflows to support them in doing their best work,” she wrote.
“Further, we are creating an even more personalized and continuous care experience for our clients and continuing to raise the bar on the new standard of care that we created in this industry.”
(Image source: lyrahealth.com)
