Lyra Health, a leader in Workforce Mental Health solutions, has announced compelling results from a recent mental health study conducted by global professional services firm Aon. The study reveals that a leading Fortune 500 employer saved $4,138 per member in the first year by utilizing Lyra’s services.
Study Findings
- Cost Savings: The study found that individuals using Lyra services saved an average of $4,138 per member compared to a matched control group from the same employer who did not use Lyra services.
- Health Care Costs: The analysis underscores the impact of Lyra’s services on reducing one of the most significant and unpredictable operational costs for employers.
Impact on Employers
- Sustained Savings: Building on a previous report, Lyra has demonstrated an average annual savings of 26% over four years for employers across various industries.
- High-Quality Care: Lyra’s approach not only offers high-quality clinical care but also delivers predictable cost reductions, improving overall health care cost management for employers.
Statements from Key Figures
- Dr. Connie Chen, Chief Operating Officer at Lyra Health:
- Affirms that the study validates Lyra’s founding belief in the link between high-quality care and reduced health care costs.
- Highlights the role of Lyra’s evidence-based provider network and substantial investment in clinical innovation and research, supported by 16 peer-reviewed papers.
- Ron Ozminkowski, Senior Vice President of Commercial Analytics at Aon:
- Notes the significant return on investment, with $3.04 in health care savings for every $1 spent on Lyra’s services.
- Emphasizes the effectiveness of Lyra’s services in reducing overall health care expenditures.
Lyra Health’s Approach
- Evidence-Based Care: Lyra focuses on providing high-quality, evidence-based mental health care.
- Investment in Research: The company’s significant investment in clinical research contributes to its industry-leading outcomes.
The study by Aon highlights the substantial cost savings achieved by a Fortune 500 employer using Lyra Health’s mental health services. With significant savings and improved health care outcomes, Lyra continues to demonstrate its value in managing and reducing health care costs for employers.
