Leading Virtual Behavioral Health Provider Talkspace Introduces New Superbills Feature

Rhea-AI Summary

Talkspace (TALK) has launched a new feature allowing users to access Superbills for insurance reimbursement seamlessly. This update addresses the significant demand from consumers for better access to their invoices, enhancing the reimbursement process for mental health services. As consumers prioritize mental health, Talkspace aims to improve user experience and reduce barriers associated with insurance and cost. In a study, 80% of participants found Talkspace as effective or better than traditional therapy, highlighting its appeal and accessibility.

Positive

• Launch of Superbills feature to expedite insurance reimbursement.
• 80% of users reported Talkspace as effective as or more effective than traditional therapy.
• User experience improvement through direct access to Superbills.

Negative

• None.

Superbills Enable Talkspace Users To Access Invoices Necessary For Insurance And FSA/HSA Reimbursement At The Click Of A Button

NEW YORK--(BUSINESS WIRE)-- Talkspace (NASDAQ: TALK), today announced a new feature that will help consumers expedite reimbursement for mental health services claims. The new feature comes at a time when many Americans are prioritizing their mental health needs, and health plans expand their coverage of behavioral health benefits.

“Talkspace’s mission has always been to make quality therapy accessible to all. We understand that insurance coverage and cost can be barriers for many,” said Asaf Broide, Talkspace’s VP of Product & Enterprise Solutions. “By listening to our customers, we learned that their number one support request was to gain immediate access to their Superbills in order to submit for reimbursement to their health plan or FSAs/HSAs.”

This simple update, allowing clients to view and download Superbills directly from the platform, will improve our users’ experience and allow our members more time to focus on their mental health and personal growth.

Talkspace offers a broad suite of evidence-based virtual behavioral health services ranging from self-service tools through Psychiatry, including the ability for clients to track their own progress against their personal mental health goals. In a study published in the Journal of Telemedicine and e-Health, 80% of patient participants found Talkspace to be as effective or more effective than traditional therapy. Talkspace also generated greater satisfaction in terms of its delivery, its accessibility, and affordability compared to traditional therapy.

Talkspace recently added live chat sessions (to their live audio and video capability), yet another way for patients to connect with their licensed therapists, as a result of listening to customer feedback.

ABOUT TALKSPACE

Talkspace is a leading virtual behavioral healthcare company enabled by a purpose-built technology platform. As a digital healthcare company, all care is delivered through an easy-to-use and encrypted web and mobile platform, consistent with HIPAA and state regulatory requirements.

Today, the need for care feels more urgent than ever. When seeking treatment, whether it's psychiatry or adolescent, individual or couples therapy, Talkspace offers treatment options for almost every need. With Talkspace, members can send their dedicated therapists text, video, and voice messages anytime, from anywhere, and engage in live video sessions.

For more information about Talkspace commercial relationships, visit https://business.talkspace.com/. To learn more about online therapy, please visit https://www.talkspace.com/online-therapy/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220131005153/en/

John Kim, jkim@skdknick.com

Source: Talkspace

FAQ

What new feature did Talkspace announce for insurance reimbursement?

Talkspace announced the launch of a Superbills feature that allows users to access invoices necessary for insurance and FSA/HSA reimbursement.

How effective is Talkspace compared to traditional therapy?

According to a study, 80% of patients found Talkspace to be as effective or more effective than traditional therapy.

What is the stock symbol for Talkspace?

The stock symbol for Talkspace is TALK.

When was the Superbills feature launched by Talkspace?

Talkspace announced the Superbills feature in a press release on the date of the announcement.