PsyInnovations (wayForward )

PsyInnovations, operating under the name wayForward, developed a digital behavioral health platform that was acquired by DarioHealth in May 2021 for $30 million. The company was founded by the husband-and-wife team of Ritvik Singh and Dr. Navya Singh, along with Stan Miroshnikov. Ritvik Singh, the CEO, brought over a decade of experience as a portfolio manager on Wall Street and an educational background from IIT Delhi and Columbia University. His interest in healthcare was personal, stemming from a family of doctors and his experience launching a non-profit medication reminder service in India. Dr. Navya Singh, Chief Clinical Officer, is a psychologist and research scientist from Columbia University. Stan Miroshnikov, the CTO, also a Columbia University alumnus, has over a decade of experience in software development.

The company's core offering is a mental health platform that provides support for issues like stress, anxiety, and depression. It operates on a business-to-business-to-consumer (B2B2C) model, primarily serving self-insured employers and providing its services to their members. Before its acquisition, wayForward was providing its services to approximately 20,000 members across 20 employers. The wayForward platform uses AI-based screening to assess a user's needs and guide them to the appropriate level of care. This can range from self-directed digital programs and tools based on Cognitive Behavioral Therapy (CBT) to sessions with certified coaches and access to licensed therapists or psychiatrists through a customer's existing network. This tiered approach aims to provide cost-effective and precise care.

The platform's key differentiator is its ability to triage users, matching them to the optimal and most cost-effective intervention, which integrates with existing healthcare solutions rather than competing with them. This AI-driven navigation addresses a significant gap in behavioral health coverage by providing support for individuals who may not require a licensed clinician. The acquisition by DarioHealth was a strategic move to integrate wayForward's behavioral health capabilities into Dario's comprehensive digital therapeutics platform, which already covered chronic conditions like diabetes and hypertension. This created a more holistic solution, acknowledging the strong link between chronic physical ailments and mental health challenges.

Keywords: digital behavioral health, mental wellness platform, employee assistance program, cognitive behavioral therapy, AI-based screening, telehealth, corporate wellness, mental health triage, digital therapeutics, DarioHealth acquisition, self-insured employers, chronic condition management, integrated care, virtual mental healthcare, behavioral science, employee mental health, anxiety and depression support, mental health coaching, digital health solutions, workplace wellness