Proving ROI

“If you look at your health care claim data for any other condition, mental health is absolutely the outlier. There is no other condition category where people are using so much out-of-network care. So you have to ask yourself the question: Why?”

Dana Erdfarb

Executive Director of Benefits

Morgan Stanley

Morgan Stanley prioritizes benefits solutions that can serve their diverse group of employees and dependents. For years, the benefits team had been hearing from employees about challenges with accessing in-network mental health providers. This was validated by their claims data—they saw that 50 percent of mental health visits were out-of-network, translating to 72 percent of mental health spend. Their out-of-network costs were two and half times that of in-network costs.

Morgan Stanley rolled out Lyra in June of 2020, and quickly felt a return on their investment. Erdfarb said, “Lyra was significantly more expensive than our existing EAP, but we were able to prove that the value of the solution was worth the cost. The majority of the costs are variable and based on the amount of care our employees are getting. We’re not paying a high fixed cost for care that our members may not use.”