Ovia Health, a digital well being platform for household care, is ready to introduce a fertility and family-building profit designed to comprehensively assist the varied journeys of workers and well being plan members.
Slated for launch in January 2024, the providing goes past conventional fertility options, aiding all the family-building course of, together with preconception, being pregnant and postpartum.
Employers and well being plans can customise their advantages and help packages based mostly on particular targets and budgets, together with providing assisted reproductive applied sciences, adoption and surrogacy.
The providing additionally consists of care navigation for help in figuring out and navigating fertility clinics, suppliers and adoption companies. Concierge assist and companies providing real-time, one-on-one assist and scientific steering from Ovia’s in-house care group can even be accessible.
A variety of reimbursement choices for certified bills might be integrated, 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 device enabling employers to contribute funds for eligible companies with versatile fee choices.
Ovia partnered with monetary expertise 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, stated in an announcement. “We imagine our new Fertility and Household Constructing Profit is a key step towards enhancing well being fairness, offering better 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 often known as Ovuline.
Earlier this 12 months, Ovia added menopause-focused offerings, together with the power to trace signs and entry instructional content material with remedy choices and tips about speaking with physicians. Enterprise clients had been additionally allotted extra entry to on-demand well being teaching.
Femtech’s present market dimension ranges from $500 million to $1 billion, in response to a report by McKinsey & Company, and projections counsel alternatives for double-digital income progress within the coming years.
Different corporations within the femtech house embrace Tia, a hybrid digital care and brick-and-mortar ladies’s healthcare firm; Progyny, which affords fertility and family-building advantages for employers; and Maven Clinic, which affords digital care geared towards ladies and households.
