Lyra Health

One of the distinctive features of the American health care system is that, even after the passage of the Affordable Care Act, most Americans receive their health care coverage through their employer. Accordingly, most Americans have their mental health care paid for by their employer.

In the past, there has been a certain of division of labor in this arrangement: health care is provided by a hospital or private therapist, and the bill is sent to the (employer-funded) insurance plan. In recent years, however, we are seeing this traditional boundary blur.

One of the most important companies in this space is Lyra Health . Lyra Health provides mental health care to individuals, yet is funded directly by their employers. Indeed, a main claim of Lyra Health is precisely that it reduces the consequences of mental health disorders that impact employers, such as days absent.

Much debate around mental health care funding focuses on the nature of insurance coverage. Arguably these debates overlook the impact of services like Lyra Health, which is already valued at over $2 billion. Insofar as the future of mental health care may be driven by the funding of mental health care, services such as Lyra Health such that corporations may have a significant impact on what the provision of mental health care may come to look like.

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