Leading Mental Health: Insights from Lyra Health
Episode Overview
Lyra Health employs AI for provider matching. Importance of partnerships in employee benefits. Mental health is a top VC investment area. Curiosity and problem-solving as key business skills. Value-based leadership in healthcare.
Partnerships are crucial because we don't just sell to our prospects; we really want to partner with them.
In today's episode of Kellogg Healthscape, we delve into the transformative work of Lyra Health in the realm of mental health benefits. Amy Cosler, the Senior Vice President of Partnerships at Lyra Health, joins hosts Hannah McGilvery and Joy Basinger to discuss how Lyra is leading the way in providing innovative mental health solutions to employees worldwide. The conversation highlights Lyra Health's approach to enhancing mental healthcare access through strategic partnerships and cutting-edge AI technology.
Lyra Health is a prominent provider of workforce mental health benefits, serving over 17 million individuals globally. The organization uses AI-powered provider matching to connect users with mental health professionals who meet their unique needs, including language, ethnicity, and specific conditions. This personalized approach ensures that individuals receive the most suitable care, which has proven successful in improving employee presenteeism and reducing short-term disability leaves.
Amy Cosler shares her journey from leading commercial teams at Teladoc Health during the pandemic to her current role at Lyra Health. Her extensive experience in sales, marketing, and customer success has equipped her with the skills to drive growth and foster strong partnerships. At Lyra, partnerships are more than just sales transactions; they are collaborative efforts to make informed employee benefit decisions alongside benefit consultants from leading firms like Mercer and Willis Towers Watson.
An essential aspect of Lyra Health's strategy is understanding the economic challenges and overcoming them with data-driven solutions. The organization has demonstrated an ability to bend the cost curve while delivering positive outcomes for employers and employees alike. The episode also touches on the significance of curiosity and problem-solving skills in business, especially in sales roles. Amy emphasizes the importance of building trust and integrity, which are key components of value-based leadership—a concept championed by Professor Harry Kramer at Kellogg.
These skills allow business leaders to tackle complex issues and foster meaningful partnerships. As mental health continues to be a priority for venture capital investment, with $682 million raised in the first half of 2024, Lyra Health stands out by integrating global employee assistance programs (EAPs) and providing comprehensive mental health support. Listeners are encouraged to embrace curiosity and continuously learn from industry leaders, as exemplified by Amy Cosler's insights.
The episode concludes with an invitation to stay connected and explore future discussions on healthcare innovations.