Women account for half of consumers, hold power over 80% of family financial decisions, and make 70% of health care decisions in their families, but their access to adequate health care often fails .
Especially in the post-Roe world, women are increasingly turning to employers to obtain adequate health care for themselves and their families. Maven Clinic, a virtual clinic for women and families, allows companies to offer their employees an extensive online network of fertility, pregnancy, adoption, parenting and pediatrics services.
“With our platform, patients have access to all of these different types of care providers – adoption coach, surrogacy coach, OBGYN, midwife, doula – they can get quick support within 10, 20 minutes and talk to. people they trust who share their experiences, “Kate Ryder, CEO and founder of the Maven Clinic, told CNBC reporter Leslie Picker at the CNBC Work Summit on Wednesday. “Our care advocates are helping them navigate benefits or laws and ask if their health plans have done anything to add to this new and changed landscape.”
Ryder’s goal for Maven is to put women first when it comes to health care, bridging any gaps they may encounter. It is the largest virtual platform for services to women and family.
“The health of women and families has always been underestimated,” Ryder said.
Since Ryder founded the Maven Clinic in 2014, the company has raised over $ 200 million and has been valued at $ 1 billion after its latest funding round in August 2021, making it the first female-centric healthcare startup. to achieve this goal. Its services have helped support more than 15 million members in over 175 countries, and the platform supports over 30 supplier specialties in 30 supplier languages. The Maven Clinic was ranked 19th on CNBC Disruptor 50’s 50 list of 2022.
Ever since the Supreme Court overturned Roe v. Wade in June, the company saw a 67% increase in opportunities from companies seeking travel benefits as well as other health support for pregnant women.
Ryder said the Maven Clinic was anticipating the overturning of Roe v. Wade after SB-8 in Texas in 2021, which banned virtually all abortions and abortion-related health care after six weeks.
“Because we are in the market, because we had a platform that we could access, we were able to jump in and step up our products,” Ryder said.
Maven Clinic has seen a larger increase in demand for its products over the past two years amid a pandemic and a tight labor market, which it attributed to the accessibility of its virtual platform and its explicit support for health equity.
Amidst the large resignations, more and more companies are adding fertility benefits to their list of benefits to stay competitive as part of diversity, equity and inclusion efforts. Services such as in vitro fertilization (IVF) treatment are offered to 42% of large employers in the United States and 27% of small employers as of 2020 and 19% of large employers and 11 % of small employers have offered egg freezing.
Additionally, 80% of people say they look at a company’s DEI efforts when considering an employer, and 40% of people would be willing to change jobs if they felt their employer does not prioritize reproductive rights , according to Ryder.
“All the major medical associations have come out … saying this is a health access problem, a health care problem,” Ryder said. “It’s also the right thing to do: make sure your families, at a time when they’re truly vulnerable, get the right access and support.”
The Covid-19 pandemic has also disproportionately affected poorer communities and people of color, making it more difficult for them to find adequate care.
In the wake of the pandemic, there has also been an exodus of dependent women, as well as female leaders who have left their companies and changed jobs at some of the highest rates seen in recent years. The number of women currently in the workforce is similar to that of the 1980s, reversing decades of progress.
“If you’re a company looking to increase your profits, it’s a matter of people,” Ryder said. “It’s about health equity and how, for example, if you have a large virtual care platform, it’s easier to really deal with it, because you have the ability to have a supplier’s workforce.”