San Francisco CA, USA – January 11, 2021 – THERA Inc., a VR therapy start-up announced today a landmark contract with a major Texas Children’s Hospital. THERA Inc. is a virtual reality-based telemedicine software system for mental health and psychiatric services for the US market and soon Europe and the UAE. Patent-pending, the business provides telehealth over 7 different platforms for doctors and patients to meet in VR, with trackable biometrics. In addition to hospitals, THERA Inc. sells to licensed clinicians in private practice, addictions centers, and school psychologists. THERA Inc. is also a provider and billable as telemedicine. The platform is sold as a subscription to providers and patients based on the need and level of services for psychotherapy.
Thera VR signs landmark deal, Dec 15th 2020. Pictured: Erin Bogdanski LMFT, Founding CEO, Thera VR.
Over 71% of the US health care providers use telehealth. Due to COVID-19 that percentage has increased dramatically for mental health care providers around the world preventing face to face treatment. 7 Million Americans used telehealth services in 2018, now that number is nearly 120M with a forecast of significant growth for permanent use for telepsych services due to the contagion. California has the largest saturation of licensed mental health care professionals, as well as New York and New Jersey. Over 200M are seeking treatment now in the US for online services. In 2018, 30% of therapists in the US were using telehealth, now due to COVID-19 that is over 90% due to SIP. 14.4M Patients were using online services under the age of 24 (2018), now age, demographics and socioeconomic status is not pertinent to tele health services. THERA Inc. advocates for utilization of endorsing PsychPact to provide cross border counseling during COVID-19 to reach underprivileged communities, especially school age children. Telehealth is the most important tool to address this problem.
CEO Erin Bogdanski of Thera VR said: “This is a new generation of telemedicine, live streaming virtual reality telehealth, but with avatar technology and biometric tracking. This is our goal… focus on pediatrics and let children feel safe with their providers. After a year, we are so excited to have our first telehealth platform for hospital use”.
Behavioral health disorders are on the rise in every country around the world and will cost the global economy $16 trillion by 2030. There are major unmet needs in behavioral health care, including access challenges, poor outcomes, the high cost of care, low patient engagement rates and a shortage of skilled clinicians.
Along with this contract, Thera VR will also be servicing 140 local public schools as part of a grant secured by the pediatrics hospital. The 9-month contract comes at a time when requests from other hospitals and educational institutions have increased 300% for the previous year.
“Thera VR believes that VR will offer a more effective alternative to Zoom which has quickly become the go to for clinicians in response to Covid-19. The problem with Zoom is that young adults and minors have a hard time keeping engaged and will lose interest very quickly. There is a much higher chance of keeping the patient’s interest, disarming them so that they will open up, and share their issues in Thera VR.” – Byron Booker COO and Head of Business Development.
Thera VR is a member of Virtual Medicine at Cedar Sinai Clinical and currently conducting a COVID-19 led clinical trial through CHLA, under the principal investigators Dr. Jeffrey Gold and Dr. Nicole Mahrer. The trials are to test THERA VR’s efficacy for treatment for depression and anxiety in college age patients. This will be one of the first evidence based treatments using VR Telehealth.
About Thera VR:
The first HIPAA compliant virtual reality telehealth platform using customizable avatar technology with biometrics. THERA Inc, is the new tele medicine for counseling services using VR.
THERA Inc. has one pending patent for the US market related to Behavioral Health and Virtual Reality. We plan on becoming part of the first telehealth platforms for psychotherapy using VR for the US market, the EU and EAU. The EU and UAE patents are planned to be filed before the end of 2020.
For further information please contact:
Company Name: Thera Inc.
Contact Person: Byron Booker, Head of Business Development
Email: Send Email
City: San Francisco
Country: United States