Octave Expands Mental Health Services to 10 New States

SAN FRANCISCO, May 30, 2024 /PRNewswire/ -- Octave, an innovator in outcomes-focused behavioral health care, has launched its services in 10 new states, part of an expansion plan that aims to bring high-quality, in-network therapy to more people nationwide.

The new states are: Arizona, Georgia, Maryland, Massachusetts, North Carolina, Oregon, Pennsylvania, Tennessee, Virginia, and Washington.

With the additional locations, Octave now serves a total of 17 states. The expansion states were selected based on the need for in-network therapists ? seven of the 10 new states rank among the lowest in the nation for access to mental health care due to high cost and lack of availability.

"The key to reducing the critical need for mental health services in the U.S. isn't just about making care more available, but also making sure it's effective. We're seeing too many people dropping out of the system before they see improvement; and on the other side, we're seeing too many people churning within the system and not actually getting better," said Sandeep Acharya, Founder and CEO of Octave.

"Our model of carefully vetting therapists and delivering consistently high-quality care that's proven to work is what sets Octave apart. We're looking forward to expanding our care model to these new states, and very soon, nationwide," he said.

Proven Clinical Outcomes

A pioneer of value-based care in mental health, Octave's innovative care model has led to first-of-its-kind partnerships with major national payers. The model has yielded some powerful outcomes:

• 76% of Octave clients with clinical depression improved at least one severity level within 3 months of treatment.
• 74% of Octave clients with clinical anxiety improved at least one severity level within 3 months of treatment.
• Octave has one-third of the early attrition rates compared to industry averages, enabling more clients to experience clinically significant outcomes.

"Not all therapy is created equal, and these results show that Octave's model is outperforming the industry averages," said Golee Abrishami, PhD, VP of Clinical Care. "Our investment in quality is paying off in value for payers, higher reimbursement rates for providers, and most importantly, quality of life for our patients."

The expansion comes on the heels of Octave's $52 million Series C fundraising round, led by Cigna Ventures, Novo Holdings, and Avidity Partners. Earlier this year, the company announced a collaboration with Evernorth Behavioral Care Group to deliver care to Cigna Healthcare and Evernorth members, in addition to its existing national partnership with Aetna and regional health plans.

About Octave

Octave is a modern behavioral health practice creating a new standard for care delivery that's both high-quality and accessible to more people. With in-person and virtual clinics, the company offers personalized care plans that can include individual, couples, and family therapy, while pioneering relationships with payers to make care more affordable through insurance. Grounded in science, Octave enables clients to experience profound change that is as measurable as it is meaningful. Learn more at www.findoctave.com

SOURCE Octave Health Group