Global AI in healthcare market expected to rise to $164B by 2030
The market size for 2023 was $10.31 billion
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Valera Health is a virtual mental health provider serving high acuity patients. Founded in 2015, the New York City-based company partners with healthcare systems and health plans, delivering clinical care to their patients and members, including adults, adolescents, teens, and children who have high acuity conditions, meaning those with patients with mild depression to schizophrenia.
Valera's services are available to more than 60 million lives across 10 states, and now the company will be able to offer its services to many more people, as it announced this week that Valera is available as an in-network benefit for some Humana Medicare Advantage members.
The partnership will begin in 10 states, with nationwide expansion expected in September.
With Valera, patients are able to schedule a free consult with one of the company's health connectors, who will call their phone directly during their scheduled appointment time. The patient and the health connector work together to make sure that the care is the right fit; during the consult, the health connector will assess the patient's needs and answer any questions they may have. The company will then matches the patient with a qualified provider and schedules their first appointment.
The company deploys a team-based model that includes licensed therapists, nurse practitioners, case managers, and psychiatrists who works with the members to create a treatment plan to meet their goals. Patients can connect to their care providers through Valera's app and participate in sessions using its built-in video platform.
Valera serves BIPOC and LGBTQ+ communities through culturally-intentional care and a diverse, multilingual provider network where more than 50% of clinicians self-identify as Black, Hispanic, or Asian.
Expanding access to services like Valera is important because research has shown that 25% of Medicare beneficiaries have a mental illness.
"We are looking forward to partnering with Valera Health to support the behavioral health needs in our Medicare Advantage population across our mutual footprint," said Cassie Gochenaur, Humana's Associate Vice President of Behavioral Health. "With a growing demand for all levels of behavioral health support, strong provider partnerships for both in-person and virtual care are a key aspect of ensuring quality and timely care for our membership."
(Image source: valerahealth.com)
The market size for 2023 was $10.31 billion
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