Ovia Health, a digital well being platform for household care, is about to introduce a fertility and family-building profit designed to comprehensively assist the varied journeys of staff and well being plan members.
Slated for launch in January 2024, the providing goes past conventional fertility options, aiding your 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 assist and providers providing real-time, one-on-one assist and medical steering from Ovia’s in-house care crew will even be obtainable.
A variety of reimbursement choices for certified bills shall be included, together with in vitro fertilization (IVF), egg freezing, adoption, surrogacy and different deductible providers.
The corporate additionally introduced a brand new profit, the Ovia Pockets, a monetary device enabling employers to contribute funds for eligible providers 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 an announcement. “We consider our new Fertility and Household Constructing Profit is a key step towards enhancing well being fairness, offering higher entry and assist for households on their family-building journeys.”
THE LARGER TREND
In 2021, diagnostics and drug-development behemoth Labcorp purchased Ovia Health, previously generally known as Ovuline.
Earlier this yr, Ovia added menopause-focused offerings, together with the power to trace signs and entry academic content material with remedy choices and tips about speaking with physicians. Enterprise clients have been additionally allotted further entry to on-demand well being teaching.
Femtech’s present market dimension ranges from $500 million to $1 billion, based on a report by McKinsey & Company, and projections recommend alternatives for double-digital income development within the coming years.
Different firms within the femtech house embody Tia, a hybrid digital care and brick-and-mortar girls’s healthcare firm; Progyny, which affords fertility and family-building advantages for employers; and Maven Clinic, which affords digital care geared towards girls and households.