Monday, October 9, 2023

Plum's Telehealth Sees Fourfold Surge In Mental Health Consultations Among The 21-30 Age Group Compared To 31-40

~Females take a lead in seeking mental health support through telehealth services~

Plum, India’s leading insurtech platform offering group health insurance and business insurance solutions to over 3500+ corporations has observed a fourfold surge in its mental health tele-consultations among 21-30 age group as compared to 31-40. With about 73% of telehealth consultations bookings coming from the said cohort, it indicates increased awareness and acceptance of conversations around  mental health and self care.

Founded in 2019, Plum extends its telehealth consultation services to its customers and their employees. With 100+ doctors and medical practitioners on Plum’s telehealth panel (16 number of psychologists and counsellors) Plum noted nearly 5500 bookings for mental health tele consultations this year. Analysing the data ahead of World Mental Health Day, observed on October 10, Plum noted the following:

* Women taking the lead: Females have sought more consultations than males, with approximately 55% of consultations being sought by females and 45% by males. This indicates that women are more open to seeking assistance for mental health issues, whereas men may be less inclined to do so.

* Family wellness at the forefront: Plum noted that employees extended the benefit of mental health teleconsultations to their loved ones - 10% of all bookings come from their siblings, 6% from their spouse, and 4% from their parents and in-laws.

Reasons for increasing consults include - anxiety, stress and coping; relationship issues; self growth; grief and loss and also a clinical diagnosis.

Saurabh Arora, Co-founder & CTO, Plum, expressed, "At Plum, our mission has always been to make a positive difference in people's lives by looking out for their physical, mental, and financial well-being. We take great pride in leading the way in offering convenient telehealth services to our customers and their employees. It's truly heartwarming to see that our platform is not only used by individuals but also by their families and loved ones. While mental health awareness has been growing, it's crucial that we now focus on closing the gender and age gaps in accessing these services."

The cost of mental health consultations can often go high. In major cities like Mumbai, Delhi, and Bangalore, the base price for a consultation typically ranges from INR 1200 to INR 2400. This cost can vary further depending on the years of experience of the Psychologist or Psychiatrist providing the service, all for a 50-minute session. Recognizing the financial barriers that may deter individuals from seeking the vital support they need, Plum is dedicated to making mental health care more affordable and accessible. Through their innovative approach and partnership with employers offering group health insurance policies, Plum aims to ensure that individuals can access quality mental health consultations without the burden of exorbitant costs, ultimately prioritising their emotional well-being.

Plum also offers telehealth and a 24/7 mental health support and anonymised helpline to its own employees.

Earlier this year, Plum introduced super-top health insurance plans in group policy settings helping individuals to enhance their health insurance coverage and making it accessible for their senior citizen parents with convenience and affordability.

About Plum:

Plum is India’s leading insurtech platform offering employee wellness solutions and business insurance solutions to 3500+ corporations. Founded in 2019, the company is on a mission to accelerate the adoption of health insurance in India by making employee health insurance accessible, affordable and usable for employees. It is re-imagining the health insurance stack and accelerating the penetration of health insurance in India to 100%. Plum aims to reach a milestone of 10 million lives insured by 2025. It launched Plum Business in July 2023, thereby extending its product offerings to cover the health and wellness of employees and businesses as a whole. Plum is currently in the Series-A stage and has raised $20million till date. It is backed by marquee investors, Tiger Global and Peak VX Partners.

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