Calculating the true impact of investing in a mental health benefit has been a challenge for many employers--until now.
Using the validated Cost Efficiency Measurement methodology pioneered by global professional services firm Aon, this third-party study shows Lyra’s workforce mental health benefits can have a significant impact on reducing medical claims for members who engaged with Lyra services.
This rigorous analysis examined claims data from customers across a variety of industries and is the first study of its kind to quantify the financial impact of a comprehensive mental health solution like Lyra.
Members who engaged with Lyra services saw:
Improved continuity of care and utilization: 12 completed visits compared to seven in the health plan. With Lyra, members stay engaged and get the care they need, when they need it.
Lower overall health care claims costs: ~$2,300 in reductions per engaged member per year, including costs related to general health care, prescription medications, and emergency department visits; this included $595 in lower non-mental health related medical claims per engaged member per year
Lower incidence of inpatient/outpatient mental health spending: $194 in reduced spending per engaged member per year
“Aon applied its rigorous methodology to analyze employee medical and mental health claims costs, finding that members who engaged with Lyra had lower overall claims cost and improved mental health service utilization,” said Todor Penev, Aon senior vice president, Fellow of the Society of Actuaries, and a member of the American Academy of Actuaries.
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