Maven is a winner of FierceHealthcare's Fierce 15 awards. See our other honorees here.
What happens when a major customer base is overlooked?
For Kate Ryder, it signaled a major opportunity in healthcare. The CEO of Maven saw major gaps when it came to offerings for women, who make up the dominant customer base in healthcare.
That was particularly the case when it came to the biggest healthcare decision of their lives: starting a family.
"I couldn’t believe there was such a gap between women and the products available around their basic needs like having families," Ryder told FierceHealthcare.
Maven was initially started as an app but grew into a company that helped employers offer benefits to support their workers with maternity and fertility costs. The product was designed to offer women "end-to-end" support in areas including preconception, egg freezing, IVF/IUI, adoption, surrogacy, pregnancy, postpartum, early pediatrics, return-to-work, and breast milk shipping.
“We take care of the whole person. That’s the big issue driving us," Ryder said. Last year, the company tripled in size to offer care to 5 million women and families, opening access to 1,700 providers in 20 different specialties.
In the new year, the company is preparing to launch a new payment product focused on fertility and is eyeing growth into pediatrics.
"When we started five years ago, the market was pretty nascent. There wasn’t as much interest in investment in women’s health. But in the last couple of years, there’s been a shift," Ryder told FierceHealthcare. “To be a company that’s able to drive some of that conversation has been great."
Fierce insights with Maven CEO Katherine Ryder
What is your best piece of advice for launching a healthcare company that challenges the status quo?
Healthcare is a very complicated industry. Surround yourself with industry experts across legal, clinical, and other areas in the early days to make sure you're building a scalable foundation.
What is the failure you’ve learned the best lesson from?
Launching Maven Campus, our college subscription product. Though there is a huge need, we didn't have the buyers quite right.
What is one change you predict in healthcare that people wouldn’t expect?
I predict that the needs of women and families are going to be at the center of the healthcare system sooner than people think!