Ovia Health, a digital well being platform for household care, is ready to introduce a fertility and family-building profit designed to comprehensively help the various journeys of workers and well being plan members.
Slated for launch in January 2024, the providing goes past conventional fertility options, aiding the complete family-building course of, together with preconception, being pregnant and postpartum.
Employers and well being plans can customise their advantages and help packages primarily based on particular objectives and budgets, together with providing assisted reproductive applied sciences, adoption and surrogacy.
The providing additionally contains care navigation for help in figuring out and navigating fertility clinics, suppliers and adoption businesses. Concierge help and companies providing real-time, one-on-one help and scientific steerage from Ovia’s in-house care workforce may also be obtainable.
A spread of reimbursement choices for certified bills might be included, together with in vitro fertilization (IVF), egg freezing, adoption, surrogacy and different deductible companies.
The corporate additionally introduced a brand new profit, the Ovia Pockets, a monetary instrument enabling employers to contribute funds for eligible companies with versatile cost choices.
Ovia partnered with monetary know-how platform First Greenback to offer a number of cost choices, from a digital pockets to a bodily debit card.
“As people and households more and more pursue fertility, adoption and surrogacy to construct their households, many really feel remoted or unequipped to navigate these processes themselves,” Dr. Jenny Carrillo, president of Ovia, stated in a press release. “We consider our new Fertility and Household Constructing Profit is a key step towards bettering well being fairness, offering higher entry and help for households on their family-building journeys.”
THE LARGER TREND
In 2021, diagnostics and drug-development behemoth Labcorp purchased Ovia Health, previously often called Ovuline.
Earlier this yr, Ovia added menopause-focused offerings, together with the flexibility to trace signs and entry academic content material with remedy choices and recommendations on speaking with physicians. Enterprise clients have been additionally allotted extra entry to on-demand well being teaching.
Femtech’s present market measurement ranges from $500 million to $1 billion, in response to a report by McKinsey & Company, and projections counsel alternatives for double-digital income progress within the coming years.
Different corporations within the femtech house embrace Tia, a hybrid digital care and brick-and-mortar girls’s healthcare firm; Progyny, which presents fertility and family-building advantages for employers; and Maven Clinic, which presents digital care geared towards girls and households.
