Virtual mental health platform Valera Health announced it is now an in-network provider for Humana Medicare Advantage members in 10 states in the U.S., with nationwide expansion expected in September.
Valera offers a virtual platform for high-acuity patients aged six and above with serious mental illness and severe depression. The company matches patients to a health coach, who helps them find a therapist or doctor who meets their needs.
The New York-based company works via a team-based model that includes nurse practitioners, licensed therapists, case managers and psychiatrists. Clients reach providers through the Valera app. The company also offers a library of mental health resources.
“We are looking forward to partnering with Valera Health to support the behavioral health needs in our Medicare Advantage population across our mutual footprint,” Cassie Gochenaur, Humana’s associate vice president of Behavioral Health, said in a statement. “With a growing demand for all levels of behavioral health support, strong provider partnerships for both in-person and virtual care are a key aspect of ensuring quality and timely care for our membership.”
THE LARGER TREND
In 2021, Valera raised $15 million in funding and last year, the company announced it scored $44.5 million in growth equity financing.
Mental healthcare continues to make up a significant portion of telehealth utilization. According to FAIR Health’s Monthly Telehealth Regional Tracker, mental health diagnoses rose from 67.4% of telehealth claim lines in March to 68.4% in April, the fourth month of national increases.
Other virtual platforms offering high-acuity mental healthcare include virtual psychiatry company Iris Telehealth, teletherapy provider Sensible Care and mental health startup UpLift.