Company: TALK
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000950170-25-038107
Chunk: 5

Company: Talkspace, Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 5
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Our Mission 

Our mission is to make behavioral health care available to all and help people everywhere to heal.

Overview 

Talkspace, Inc. together with its consolidated subsidiaries (referred to herein as the “Company”, “we”, “our”, “us” or “Talkspace”) is a leading virtual behavioral health company connecting millions of patients with licensed mental health providers across a wide and growing spectrum of care through virtual psychotherapy and psychiatry. Through our purpose-built platform created to address the vast, unmet and growing demand for behavioral health services, we serve:

•Health insurance plans (commercial and government) and employee assistance programs (“Payor”) who offer their members access to our platform at in-network reimbursement rates,

•Direct-to-Enterprise (“DTE”) comprised of enterprises who offer their enterprise members access to our platform while their enterprise is under an active contract with Talkspace, and

•Individual subscribers (“Consumer”) who subscribe directly to our platform.

Through our psychotherapy offerings, our licensed therapists and counselors treat mental health conditions in over 150 clinical conditions, such as depression, anxiety, trauma and other fields of human challenges. Through our psychiatry offerings, our board-certified psychiatrists and prescription-eligible nurse practitioners treat a higher acuity patient demographic, including those who may have pharmacological needs. Our psychiatry clinicians, may at their discretion, refer the member to a primary care provider or in-person psychiatrist if the clinical need arises, including to address potential needs for controlled substances. In accordance with the Drug Enforcement Administration (“DEA”) Ryan Haight Act, Talkspace providers do not prescribe controlled substances.

We have a vast nationwide network of fully-credentialed providers across all 50 U.S. states and the District of Columbia. Our network is sustained and enhanced by an attractive value proposition to providers, including flexibility, convenience, efficiency, professional development opportunities and compensation. We also believe that our platform provides other benefits to providers through expanded clinical reach, steady access to member referrals, reduced administrative burdens, more efficient time utilization and data-driven clinical insights. We designed our provider network to be scalable and to leverage a hybrid model of both employee providers and independently contracted providers to support multiple growth scenarios.

Our network has the power to deliver an enhanced care journey, higher member lifetime engagement and meaningful outcomes for our members, as well as generally greater margins when compared to in-person treatment. In pursuing our mission of making behavioral health care available to all, we aim to provide our members with high-quality behavioral healthcare via coverage through a health insurance plan,