NEW YORK--(BUSINESS WIRE)--Talkspace (NASDAQ: TALK), a leading online behavioral health care company, today announced a strategic partnership with Wisdo Health, a clinically-proven and AI-powered social health and peer support platform focused on combating loneliness. This collaboration aims to improve access to mental health resources for the 65+ community, while also reducing healthcare costs, increasing member engagement, and addressing the growing mental health crisis that is prevalent among older adults.
Loneliness is a critical issue for millions of seniors across the U.S., with approximately 40% of individuals aged 65+ self-identifying as lonely. In a landmark 2023 advisory, the U.S. Surgeon General declared loneliness and social isolation a public health crisis, comparing the health risks of social disconnection to smoking 15 cigarettes a day. The advisory further highlighted that loneliness doubles the risk of depression and anxiety and that socially isolated individuals experience higher rates of emergency room visits, hospitalizations, and primary care usage. In fact, each socially isolated older adult accounts for $1,643 more in annual Medicare spending costs.1
"By partnering with Wisdo Health, we are deepening our mental health care expertise for older adults as well as addressing the hidden epidemic faced by this population," said Erin Boyd, Chief Growth Officer at Talkspace. "Together, we offer Medicare Advantage plans a continuum of evidenced-based care, from 24/7 peer communities to therapy with licensed providers, helping them address the unique needs of the senior population at scale.”
Wisdo Health brings valuable research and expertise on loneliness and has demonstrated clinically significant reductions in loneliness while improving quality of life and mental health outcomes, including 28% reduction in depression symptoms.2 Its platform uses a patented AI precision matching technology to connect members with trained peers who have been in their shoes, along with 30+ moderated communities and group coaching to build social resilience and healthy habits, all continuously tailored to each member’s unique persona. The platform also generates actionable data on clinical outcomes and gaps in care. When therapy is deemed appropriate or necessary, users will be easily referred to Talkspace therapy and can use their Medicare benefits (depending on their state of residence).
“Peer support provides an evidence-based and scalable solution to address the loneliness epidemic, improve mental health outcomes, and reduce cost, said Wisdo Health Chief Executive Officer Ron Goldman. “By partnering with Talkspace, we are advancing our mission to help people lead happier, healthier lives through meaningful connections and community support.”
This partnership comes as Talkspace continues to expand its mental health services for older adults, including offering in-network access through Medicare, now available in 30 states including NY, TX, CA, FL, and OH, along with select Medicare Advantage plans.
For additional information, contact Talkspace.
About Talkspace
Talkspace (NASDAQ: TALK) is a leading virtual behavioral healthcare provider committed to helping people lead healthier, happier lives through access to high-quality mental healthcare. At Talkspace, we believe that mental healthcare is core to overall health and should be available to everyone.
Talkspace pioneered the ability to text with a licensed therapist from anywhere and now offers a comprehensive suite of mental health services, including therapy for individuals, teens, and couples, as well as psychiatric treatment and medication management (18+). With Talkspace’s core therapy offerings, members are matched with one of thousands of licensed therapists within days and can engage in live video, audio, or chat sessions, and/or unlimited asynchronous text messaging sessions.
All care offered at Talkspace is delivered through an easy-to-use, fully-encrypted web and mobile platform that meets HIPAA, federal, and state regulatory requirements. More than 151 million Americans have access to Talkspace through their health insurance plans, employee assistance programs, our partnerships with leading healthcare companies, or as a free benefit through their employer, school, or government agency.
For more information, visit www.talkspace.com.
1 <Journal of Aging Health> 2018
2 <JMIR Formative Research> 2023
