Talkspace Teams Up with Wisdo Health to Tackle Loneliness amongst Older Adults 65+

TALKW 10.23.2024

Full Press ReleaseSEC FilingsOur TALKW Tweets

About Gravity Analytica

Recent News

  • 01.16.2025 - January 21st is National “Check Your Coverage Day”
  • 01.15.2025 - 43rd Annual J.P. Morgan Healthcare Conference
  • 01.15.2025 - Talkspace Launches AI-Powered Insights to Advance Provider Efficiency and Enhance Therapeutic Care

Recent Filings

  • 01.15.2025 - 8-K Current report
  • 01.15.2025 - EX-99.1 EX-99.1
  • 12.19.2024 - 4 Statement of changes in beneficial ownership of securities
PDF Version

NEW YORK--(BUSINESS WIRE)--Oct. 23, 2024--Talkspace(NASDAQ: TALK), a leading online behavioral health care company, today announced a strategic partnership withWisdo 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 theU.S., with approximately40% of individualsaged 65+ self-identifying as lonely. In a landmark2023 advisory, theU.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$1,643more in annual Medicare spending costs.1

"By partnering withWisdo Health, we are deepening our mental health care expertise for older adults as well as addressing the hidden epidemic faced by this population," saidErin Boyd, Chief Growth Officer atTalkspace. "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 Healthbrings 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.2Its 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 toTalkspacetherapy 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, saidWisdo HealthChief Executive OfficerRon Goldman. “By partnering withTalkspace, we are advancing our mission to help people lead happier, healthier lives through meaningful connections and community support.”

This partnership comes asTalkspacecontinues to expand its mental health services for older adults, including offering in-network access throughMedicare, now available in 30 states including NY, TX, CA, FL, and OH, along with select Medicare Advantage plans.

For additional information, contactTalkspace.

AboutTalkspace

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. AtTalkspace, we believe that mental healthcare is core to overall health and should be available to everyone.

Talkspacepioneered 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 atTalkspaceis 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 toTalkspacethrough 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, visitwww.talkspace.com.

1<Journal ofAging Health> 20182<JMIR Formative Research> 2023

View source version onbusinesswire.com:https://www.businesswire.com/news/home/20241023796664/en/

Media:Luke Fanous|lfanous@skdknick.com

Source:Talkspace

Please be aware that the following content has been generated by an AI system and may contain errors, inconsistencies, or outdated information. It is provided as-is without any warranties or guarantees of accuracy. We strongly recommend using this content as a starting point for further research and consultation with relevant experts or authorities. We disclaim any liability for damages or losses resulting from the use or reliance on this content.Please note that this is a beta version of the Gravity Analytica LLC’s AI Service which isstill undergoing final testing before its official release. Theplatform, its software and all content found on it are provided on an“as is” and “as available” basis. Gravity Analytica LLC does not give any warranties,whether express or implied, as to the suitability or usability of thisservice, webpage, or its software or any of its content.Should you encounter any bugs, glitches, lack of functionality orother problems on the website, please let us know immediately so wecan rectify these accordingly. Your help in this regard is greatlyappreciated! You can write to us at this addressteam@gravityanalytica.com