New findings show a leading Fortune 500 employer saved $3.04 in health care costs for every $1 invested in Lyra mental health benefit
July 31, 2024– 012:00 PM ET, BURLINGAME, Calif. — Lyra Health, the leading provider of innovative Workforce Mental Health solutions for employers and health plans, today announced the results of a mental health study by global professional services firm Aon, which found that a leading Fortune 500 employer saved $4,138 per member on their health plan in year one.
The analysis compared health care costs between individuals who utilized Lyra services with a matched control group of individuals from the same employer who did not use Lyra over one full calendar year.
For many organizations, health care expenses are one of the most significant and least predictable operational costs. This leaves employers with the difficult task of balancing limited budgets to find the best care for their people.
Today’s study builds on a recent landmark report showing that Lyra also delivers the only sustained health care savings, with employers across various industries saving an average 26% each year over four years. These results demonstrate Lyra provides the highest-quality clinical care and predictable cost reductions for employees.
“This new report is a testament to the belief system that Lyra was founded on — the highest quality care gets people better and keeps them better, reducing overall health care costs for employers,” said Dr. Connie Chen, chief operating officer, Lyra Health. “Core to this success is our evidence-based provider network and significant investment in clinical innovation and research with 16 peer-reviewed papers demonstrating Lyra’s industry-leading clinical outcomes.”
“Our analysis showed $4,138 in cost savings per member, demonstrating effectiveness in reducing health care expenditures for users,” said Ron Ozminkowski, senior vice president of commercial analytics at Aon.
To learn more, download the full Aon report here.
About Lyra Health
Lyra Health is the leading provider of Workforce Mental Health benefits, available to more than 17 million people globally. Lyra is transforming access to life-changing mental health care using AI-powered provider matching, personalized support, and a digital platform to deliver evidence-based support for individuals and teams. Lyra quickly connects members to the largest dedicated global network of evidenced-based mental health providers and well-being tools, to address every mental health need and deliver outstanding positive outcomes that are equitable across diverse racial and ethnic groups. Peer-reviewed published research confirms Lyra’s transformative care model helps people recover twice as fast and a 26% reduction in overall health care claims costs for participants annually. For more information about Lyra Health’s Workforce Mental Health benefits for employers, visit lyrahealth.com.