Alma Market Research Report
Company Overview
Name
Alma
Mission of the Company
Simplifying access to high-quality, affordable mental health care.
When was the Company Founded and By Whom
No information is available.
Key People in the Company
- Dr. Harry Ritter, Founder & CEO
- Ashley Faust, SVP, Sales
- Chris Davis, Chief Financial Officer
- Claire Spangenberg, SVP, Brand & Marketing
- Dara Williams, Chief People and Culture Officer
- David Kaplan, Chief Technology Officer
- Dr. Elisabeth Morray, VP, Clinical Operations
- Erik Lumer, Chief Product Officer
- Erin Trimble, SVP, Operations
- Kate Mellor, SVP, Payer Strategy
Where is the Company Headquartered
397 Bridge St, 7th Floor, Brooklyn, New York 11201, US
Number of Employees
201-500 employees
Revenue of the Company
No information is available.
What is the Company Known For
- Connecting providers and clients in mental health services
- Enabling providers to accept insurance and streamline administrative processes
Products
What Products Do They Offer
1. Platform Services
2. Membership Services for Providers
3. Insurance Program
4. Resource Hub and EHR Tools
High-Level Description of the Product
- Platform Services: Allows clients to search for and identify mental health providers, book appointments, and manage care using integrated third-party video-conferencing functionality. It also enables billing, scheduling, and insurance processing.
- Membership Services for Providers: Offers a monthly subscription that includes access to administrative support, enhanced rates for sessions, automated billing, and a suite of EHR tools.
- Insurance Program: Facilitates easier credentialing and guarantees payback for services while expanding patient access through insurance partnerships.
- Resource Hub and EHR Tools: Provides digital tools for clinical documentation, Wiley Treatment Planners, PHQ-9 and GAD-7 assessments, community spaces, and training modules.
Key Features of Each of the Products
- Platform Services:
- Search and match with therapists based on insurance coverage.
- Book consultations and therapy sessions.
- Virtual therapy sessions with integrated video-conferencing.
- Automated claims submission and billing.
- Membership Services for Providers:
- Administrative support for practice management.
- Insurance credentialing and simplified claims processing.
- Enhanced reimbursement rates and financial tools.
- EHR tools including treatment planners and assessments.
- Insurance Program:
- Simplified, 45-day credentialing process.
- Guaranteed payback within two weeks.
- Enhanced reimbursement rates for services.
- Integration with various major insurers like Aetna, Cigna, and UnitedHealthcare.
- Resource Hub and EHR Tools:
- Pre-written treatment plans from Wiley.
- Customizable PHQ-9 and GAD-7 assessments.
- Secure, HIPAA-compliant storage and export of documentation.
- Community resources, professional development courses, and identity groups for practitioners.
Recent Developments
What Are the Recent Developments in the Company
1. Funding Rounds: Alma has secured $220.5 million in funding, with the most recent Series D funding round raising $130 million in August 2022.
2. Growth: Alma has quickly grown to over 8,000 health providers licensed across 50 states.
3. Diversity Initiatives:
- 40% of providers identify as Black, LatinX, or Asian.
- Launched the Empowering Minds Scholarship with the American Psychological Foundation, awarding $5,000 to recipients from historically marginalized communities.
What Are the New Products Launched
No information is available on new products specifically launched.
What Are the New Features Added to the Existing Products
No information is available on new features specifically introduced.
Any New Partnerships
1. Partnered with over 20 insurance companies to expand in-network care, including major insurers like Aetna, Cigna, and Empire Blue Cross Blue Shield.
2. Added a new partnership with Prima to allow patients undergoing fertility treatment to access mental health care through Alma.
This company-focused market research report has been structured to address specific facets of Alma's operations, products, and recent advancements. For any further detailed information not covered in this report, direct company communication or further data source consultation might be required.
