ParetoHealth has teamed up with Lyra Health to enhance access to quality mental health care. Lyra, a leader in workforce mental health, will provide its effective care solutions to businesses with 50 or more employees. This partnership enables over 3,500 employers and 1.2 million individuals to access benefits that were once limited to large companies.
More than 60 million Americans are employed by businesses with fewer than 500 workers, but most lack access to robust mental health benefits. “The scale of the Pareto community enables us to offer Lyra to close that gap, expand access to world-class mental health care, and help employers manage costs more effectively,” said Kevin Kickhaefer, Chief Revenue Officer at ParetoHealth.
With the power of advanced data analytics and clinical insight, the ParetoHealth Savings Engine helps employers reduce healthcare costs by addressing the root causes of high-dollar claims. A multi-year study found that companies moving from fully insured plans to Pareto realized a 7.5% cost reduction in year one, coupled with an incremental 16.5% annual reduction by year three.
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Lyra’s evidence-based approach ensures quick access, clear outcomes, and cost savings. Employees and their families typically connect with a qualified mental health provider in one day. Also, 90% of Lyra members improve or recover. This lowers the need for expensive ER visits and hospital stays, while boosting productivity and retention.
“Small and midsize businesses care deeply about their people, but too often the cost and complexity of benefits have held them back,” said Sean McBride, chief revenue officer at Lyra Health. “Together with Pareto, we’re removing those barriers and setting a new blueprint for how high-quality mental health care can reach millions more employees and their families — quickly, affordably, and at scale.”
