Teletherapy company Talkspace announced it is partnering with Amazon Health Services to help the tech giant’s customers check their eligibility for and enroll in Talkspace’s mental health services.
When Amazon customers search for terms such as “family therapy,” “sleep help” or “stress relief” on Amazon.com, they will discover therapy and psychiatric services that can assist with these issues and check their employer or health plan benefits to determine if they have access to these services.
Through the partnership, customers can also visit Amazon Health’s webpage to check insurance coverage for Talkspace and review the mental health company’s offerings.
Enrollment will be done via Talkspace’s website, where the customer can be paired with a therapist in their state in a matter of days or immediately schedule live online sessions via audio, video or chat.
“Amazon aims to simplify the journey to better health by making it easier for customers to discover and access the products, services, and professionals they need,” Aaron Martin, vice president of healthcare at Amazon, said in a statement.
“Our collaboration with Talkspace will not only help customers discover their mental health benefits but also, if they choose, gain access to their own dedicated, licensed therapist in a fraction of the time it might take to see someone in person.”
THE LARGER TREND
Last month, Talkspace announced a partnership with the Professional Tennis Players Association (PTPA) to give pro tennis players 13 and older, their families and support teams free, 24/7 access to Talkspace’s self-guided therapy app, Talkspace Go, and its virtual therapy offering at a discount.
The company also reported its second quarter 2024 financial results, showing a 29% year-over-year increase in revenue to $46.1 million, driven by a 62% increase in payor revenue and a 20% increase in revenue from its Direct-to-Enterprise sector.
Operating expenses increased 1% from the prior year to $24.4 million due to increased administrative and general expenses in Q2 2024, and gross profit increased to $21 million, an 18% jump from Q2 2023.
Net loss improved to $0.5 million, compared to $4.7 million last year, which the company said was driven primarily by increased revenue, and adjusted EBITDA was $1.2 million in the second quarter of 2024, improved from a loss of $4 million in Q2 2023.
Earlier this year, Talkspace launched a Behavioral Health Consortium to refer insured members with high-acuity needs to in-network specialty-care providers for alcoholism, substance use and eating disorder treatments.
Telehealth platform Wheel also added Talkspace to its virtual care platform, and Talkspace and telemedicine company Thirty Madison collaborated to launch mental health offerings for Thirty Madison’s reproductive health platform Nurx and migraine-focused offering Cove.
The HIMSS Healthcare Cybersecurity Forum is scheduled to take place October 31-November 1 in Washington, D.C. Learn more and register.
