As women become mothers later in life, along with more single people along with same-sex couples want to start families, fertility treatments are becoming more common. The problem can be which the process isn’t getting any easier. Offering help along with transparency to which audience can be the goal of Progyny. The fresh York City-based company can be a fertility benefits start-up which offers plans to large, self-insured companies to help their employees cover the cost for fertility treatments.
These include procedures such as in-vitro fertilization (IVF) along with egg freezing, expensive interventions which are increasingly needed, however not always covered. The average cost of one cycle of IVF, for instance, can be $12,000 along with which doesn’t include the medications needed.
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The company, which was started out in its current form in 2015 (which launched as an online fertility information platform in 2008) has over 500 clinic locations along with over 700 providers in its network nationwide. which at which point has over 30 Fortune 500 customers who are providing fertility benefits through Progyny. Last year, which expanded its offerings with the launch of Progyny Rx, a member portal along with proprietary digital emotional support tool. which provides same day or overnight delivery of medications as well as clinical support seven days a week.
So far, Progyny has raised $99 million in funding coming from venture heavyweights Kleiner Perkins, Merck Ventures along with TPG Biotech. along with inside ongoing battle to attract along with retain the best workers, offering fertility benefits can give a company an edge. According to research coming from FertilityIQ, 62% of employees who had their IVF covered reported being more likely to remain in their jobs for longer.