Digital behavioral health provider Lyra has launched a new service for individuals with complex mental health issues.
This new service takes a multi-pronged approach to supporting individuals with severe mental health needs.
“When building Lyra Complex Care, we focused on four key components not offered elsewhere: a specialized network of facility partners; a multidisciplinary network of complex care experts; A dedicated team. A comprehensive assessment and triage process designed to accurately connect members to the right level of acute care. And true end-to-end support.” said Dr. Smita Das, vice president in charge, in a blog post.
Lyra was founded in 2015 as a mental health product for workers. Lyra has been attracting attention from investors in recent years. The company raised $680 million after completing a $200 million Series C funding round in 2021.
As part of this new combined care service, we are partnering with 250 specialty network providers, including Mount Sinai Health System, Hazelden Betty Ford, and Charlie Health. These partnerships allow Lyra’s team to refer patients with urgent needs to healthcare providers who specialize in these conditions.
Lyra also trained a new in-house multidisciplinary team, including psychiatrists, social workers, and master’s level clinicians. These teams can collaborate on treatment plans and collaborate with the organization’s partner healthcare providers.
Part of complex care delivery is a triage component. This element allows health care providers to help patients determine which program is best for them or whether an outside program, such as an Intensive Outpatient Program (IOP), is the best option.
This is not Lyra’s first service for urgent mental health needs. The company also has a Dialectical Behavioral Therapy program aimed at reducing suicide risk and self-harm. Additionally, he also offers a product called Lyra Renew for people with substance use disorders. This program offers group sessions and medication-assisted treatment.
Although Lyra is expanding its reach in the severe mental illness space, digital-first companies are mostly focused on the lower-level mental illness space. Still, there may be opportunities for venture-backed startups to explore serious mental illness (SMI) care.
“I think [SMI] Often a new model of care will be required. Private equity is focused on extending proven models rather than building new ones,” said Terry Hyman, managing partner at Northwood Healthcare Partners. he told Behavioral Health Business. So I actually think the venture community is very well suited to do the work of building models, and in some ways better suited than classical private equity. ”
