Headway

Headway is an online therapy navigator which helps individuals to find mental health therapists who accept payments from the patient’s health insurance company. It also provides administrative support for onboarding therapists who do not yet accept insurance. The company also claims that it can reduce patient costs by 81%. 

For providers, Headway handles tasks like credentialing, onboarding, scheduling, billing, and insurance claims processing. This enables therapists to focus more on patient care. Providers can save up to five hours per week on administrative work by using Headway. The company does not charge fees to providers or patients for using its platform. Instead, Headway generates revenue by taking a commission from insurance reimbursements.

Headway's platform was available in all 50 US states as of July 2024, and it had over 34,000 mental health providers in its network, including therapists, counselors, psychologists, and psychiatrists. Headway powers an average of 600,000+ therapy appointments per month. The platform allows patients to schedule care within 48 hours through online booking.

In July 2024, the company secured USD 100 million in a Series D funding, increasing its valuation to USD 2.3 billion, a 130% increase from its previous valuation.

Key customers and partnerships

Headway works with major insurance providers, including Aetna, Cigna, Anthem Blue Cross Blue Shield, Oscar, Oxford, United Healthcare, and Optum affiliates. The company has partnered with over 40 commercial health plans across the US.

In July 2022, the company partnered with Blue Shield North Carolina (Blue Cross NC) to expand access to mental healthcare in North Carolina. This partnership was an expansion of the companies’ collaboration in May 2022, which enabled Blue Cross NC users to identify providers via a dedicated page on Headway’s platform. In 2024, Headway announced plans to expand its services to Medicare Advantage and Medicaid patients.