Octave Expands Mental Health Access in California with Health Net Partnership, LA Launch
Company to provide in-network access to therapy and coaching services for 500,000+ Health Net members
SAN FRANCISCO, Sept. 15, 2021 /PRNewswire/ -- Octave today announced it is joining Health Net's network of providers to offer mental health services to more than 500,000 people with Health Net plans. The partnership expands access throughout California as Octave launches its presence in the Los Angeles area.
As a Health Net provider, Octave services - individual therapy, couples therapy, coaching, and groups - will be available in-network to employee-sponsored health plan members. The partnership will help meet the unprecedented demand for mental health services exacerbated by the COVID-19 pandemic - and allow people to access the care affordably.
"California is one of the most challenging markets for mental health services. About two-thirds of therapists here don't accept any insurance, which has made care prohibitively expensive for the average Californian," said Sandeep Acharya, co-founder and CEO of Octave. "We're proud to partner with a company like Health Net that recognizes the need to remove the barriers to effective care."
Since its founding in 2018, Octave's mission has been to increase access to high-quality mental health care through direct relationships with payers. The company has pioneered models for payer coverage - it was the first mental wellness company in the country to get both therapy and mental health coaching reimbursed by insurance.
Health Net is the third major insurance company to partner with Octave. The company already offers in-network benefits to members of Anthem Blue Cross of California, the largest PPO insurer in the state. In New York, Octave offers in-network benefits for UnitedHealthcare's UMR plan for Mount Sinai Medical Center employees. In all, Octave's services are now available in-network to more than 9 million people nationwide.
New LA, Bay Area Clinics Planned
With the recent close of a $20 million Series B round of funding, Octave is rapidly expanding its California presence. Recent growth includes:
- Recruitment of More Providers: In 2021, the company has doubled the number of its therapists, with more than 60 providers now licensed in the state.
- Launch of Stress & Anxiety Management Program: Octave designed a new evidence-based coaching program for those dealing with mild to moderate stress or anxiety.
- Los Angeles Clinic Coming Soon: Virtual services are now available throughout Southern California, with a physical clinic planned for West Los Angeles in the coming months.
- Greater Northern California Footprint: In addition to two San Francisco clinics, Octave providers will soon be able to meet with clients in more locations throughout the Bay Area, including Oakland and South Bay.
"The events of 2020 spurred the mental health industry to think more urgently about creating more accessible and more effective services," Acharya said. "Octave is responding on many fronts to meet this critical need - from new payer relationships, to new care models, to more geographic availability. There is still a lot of work to be done, but I'm heartened by the broader recognition that it's time to change how we deliver mental health care."
About Octave
Octave is a national mental health practice creating a new standard for care delivery that's both high-quality and accessible to more people. With in-person and virtual clinics in California and New York, the company offers personalized care plans that can include individual therapy, couples therapy, coaching, and groups, while pioneering relationships with payers to make care more affordable through insurance. Grounded in science, Octave enables clients to experience profound change that is as measurable as it is meaningful. Learn more at www.findoctave.com
SOURCE Octave Health Group
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