NEW YORK, October 23, 2024– (BUSINESS WIRE) – Talkspace (NASDAQ: TALK), a leading online behavioral health company, today announced a strategic partnership with Wisdo Health, a clinically proven and AI-powered social health and peer support platform focused on combating loneliness. This collaboration aims to increase access to mental health resources for the 65+ population while reducing healthcare costs, increasing member engagement and addressing the growing mental health crisis prevalent among older adults.
Loneliness is a critical issue for millions of seniors in the United States, with approximately 40% of those over 65 describing themselves as lonely. In a landmark 2023 advisory, the U.S. Surgeon General declared loneliness and social isolation a public health crisis and compared the health risks of social separation to smoking 15 cigarettes a day. The recommendation also highlighted that loneliness doubles the risk of depression and anxiety and that socially isolated people experience higher rates of emergency room visits, hospitalizations and primary care use. In fact, each socially isolated older adult incurs $1,643 more in annual Medicare spending.1
“By partnering with Wisdo Health, we are deepening our expertise in mental health care for older adults and addressing the hidden epidemic facing this population,” said Erin Boyd, Chief Growth Officer at Talkspace. “Together, we offer Medicare Advantage plans a continuum of evidence-based care, from 24/7 peer communities to therapies with licensed providers, helping them address the unique needs of the older population at scale.”
Wisdo Health brings valuable research and expertise on loneliness and has demonstrated clinically significant reductions in loneliness while improving quality of life and mental health, including a 28% reduction in depression symptoms.2 Its platform uses patented AI precision matching technology to connect members with trained peers who have been in their shoes, as well as over 30 moderated communities and group coaching to build social resilience and healthy habits, all continuously tailored to each one’s unique personality tailored to the member. The platform also generates actionable data on clinical outcomes and care gaps. If therapy is deemed appropriate or necessary, users will be easily referred to Talkspace Therapy and begin using their Medicare benefits (depending on state of residence).
“Peer support provides an evidence-based and scalable solution to combat the loneliness epidemic, improve mental health outcomes and reduce costs,” said Ron Goldman, Chief Executive Officer of Wisdo Health. “By partnering with Talkspace, we are advancing our mission of helping people lead happier, healthier lives through meaningful connections and community support.”
