Ovia Well being, a digital well being platform for household care, is about to introduce a fertility and family-building profit designed to comprehensively help the various journeys of staff and well being plan members.
Slated for launch in January 2024, the providing goes past conventional fertility options, aiding the whole 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 targets 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 medical steerage from Ovia’s in-house care crew may also be out there.
A variety of reimbursement choices for certified bills shall 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 fee choices.
Ovia partnered with monetary know-how platform First Greenback to offer a number of fee 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, mentioned in a press release. « We imagine our new Fertility and Household Constructing Profit is a key step towards enhancing well being fairness, offering larger entry and help for households on their family-building journeys. »
THE LARGER TREND
In 2021, diagnostics and drug-development behemoth Labcorp bought Ovia Well being, previously generally known as Ovuline.
Earlier this yr, Ovia added menopause-focused choices, together with the flexibility to trace signs and entry instructional content material with therapy choices and tips about speaking with physicians. Enterprise clients had been additionally allotted further entry to on-demand well being teaching.
Femtech’s present market dimension ranges from $500 million to $1 billion, in keeping with a report by McKinsey & Firm, and projections recommend alternatives for double-digital income progress within the coming years.
Different corporations within the femtech house embody Tia, a hybrid digital care and brick-and-mortar girls’s healthcare firm; Progyny, which gives fertility and family-building advantages for employers; and Maven Clinic, which gives digital care geared towards girls and households.