NEW YORK, March 17, 2022 (GLOBE NEWSWIRE) -- Grow Therapy, a leader in helping create life-changing therapeutic connections between therapists and clients, today announced its mental health care services are now available as an in-network benefit to all members of Aetna, a CVS Health company. Bringing Grow Therapy’s multi-thousand therapy and psychiatry provider group in-network with Aetna means it can now connect its provider network to millions of people in need, giving them more options to find the therapist that best meets their needs and takes their insurance, no matter where they are located.
Grow Therapy was started in 2020 when the Covid-19 pandemic started because its founders knew that nearly 70% of therapists do not accept insurance due to administrative burdens like all of the paperwork involved to file a claim. Factor in a near 20% increase in adults reporting symptoms of anxiety and/or depression due to the pandemic, the stress of everyone schooling and working from home, and therapy deserts, and the need for affordable mental health care access seemed more urgent than ever.
To make it less of a burden for therapists to accept insurance, Grow Therapy functions as the technology and centralized team providing the resources to help therapists operate in-network. As a result of a therapist being in-network through Grow Therapy, it cuts the price of an average visit for clients to less than $40, and in many cases, the visits are all covered.
Since the pandemic began, Aetna data indicates that 65% of Americans ages 18-34 have had concerns about their own mental health or the mental health of others in their lives, yet 25% of them aren’t confident in finding help.
Grow Therapy is proven to elevate care quality, using measurement-based care and machine learning to improve patient matching and triage. Through Grow Therapy, people can search for a therapist with the confidence that they will find a provider that fits their insurance, background, and needs. Scheduling is easy and clients can book instantly to see their therapist for the first time within two days. All therapists on Grow Therapy’s network meet our high-quality standards and have been interviewed and vetted for experience and passion.
“We started Grow Therapy to massively expand high-quality, affordable mental health care access to every community in America. We’re thrilled to deepen our relationship with Aetna to do just that for their 87 million members across all 50 states,” said Jake Cooper, co-founder, and CEO of Grow Therapy. “We’re proud to be working collaboratively with Aetna and its network of healthcare professionals, PCPs, and hospitals and are excited about what we can accomplish together.”
About Grow Therapy
Grow Therapy is building the most provider-centric mental health group in the US to deliver high-quality, affordable mental healthcare to everyone that needs it. Grow Therapy helps therapists easily start and grow thriving private practices, giving them the administrative and business tools, peer community support, and pipeline of referrals they need to make their lives better. As a result, clients can choose from a wide variety of therapists to not only find the one that best suits their needs, but that take their insurance. Founded in 2020 by Jake Cooper, Manoj Kanagaraj, and Alan Ni, Grow Therapy is based in New York City. Grow Therapy’s network includes thousands of therapists and works with major insurers including Aetna, Cigna, Optum, Blue Cross Blue Shield, and Humana. Some of Grow Therapy’s key investors include SignalFire and leaders of Oscar, Nurx, Quartet, Airbnb, Blackstone, and Harvard Medical School. More information about Grow Therapy can be found at www.growtherapy.com.
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Gina Giachetti
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