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Rey, an Austin, Texas-based mental health and wellness startup that integrates immersive tools and digital interventions with teletherapy, announced the debut of its virtual mental wellness platform.
The platform, powered by OxfordVR, a company derived from Oxford University, will initially be available throughout Texas with a roadmap to reach the rest of the United States in 2022. The starting price starts at $ 36 per session and a monthly subscription price. of $ 295, though the company also noted that it would offer users a 50 percent discount during the first month with the platform.
The service combines individualized care with RV tools to elevate treatment progress and recycle the brain. It offers personalized therapy sessions designed to elicit the same psychological and physiological reactions as real-life situations. The goal is to ensure that what patients learn from virtual reality stays with them in the real world.
Rey, which was launched in April 2021, uses a customized combination of cognitive behavioral therapy, conversation therapy, medication capabilities, and clinically validated technology tools such as virtual reality (VR).
The company specializes in collaborative care with a full-time staff of multidisciplinary specialists, including experts in CBT, EMDR, meditation, mindfulness and vital training.
The company was founded by Deepak Gopalakrishna, a geneticist who settled into the business and launched other biotech startups. In July, the company announced that it had raised $ 10 million in new investment, bringing its total Series A financing round to $ 26 million.
OxfordVR was founded, which focuses on the use of VR in serious mental illness. The founder of the company, Dr. Daniel Freeman, a professor of clinical psychology at Oxford University, is Rey’s senior scientific advisor for the development of new automated therapeutic products. Possible future treatments include obsessive-compulsive disorder and substance use disorder.
The number of patients with depression and anxiety has increased as psychologists responded to the coronavirus pandemic, according to a November 2020 survey by the American Psychological Association.
The vast majority (96%) of psychologists said they treated patients remotely (64% treated all patients remotely) and 32% treated some patients in person and some remotely.
Most psychologists (63%) said treating patients remotely was more difficult than treating patients in person, with about a quarter of respondents reporting “an amount or more” of challenges or barriers. for patients to receive telehealth treatment.