What we think about Progyny
Progyny is a company that offers fertility, family building, and women's reproductive health benefits. Progyny's benefits are designed to be flexible and equitable Progyny’s mission is to make the dream of parenthood come true for everyone through healthy, timely, and supported fertility journeys.
Realizing that the journey to parenthood is personal, the company offers personalized treatments, including supporting adoption and surrogacy. But healthy babies and families is the outcome of what Progyny really does: it is a fertility benefits specialist, selling its services to employers to provide to employees, acting as a broker of service and information. The company essentially serves a connected triad of users – it coordinates across large, self-insured employers (customers), employees (members), and selected fertility specialists (network) to produce outcomes: higher rates of pregnancy, fewer miscarriages, and lower rates of high-risk births. The company is data driven and uses data to help providers identify and develop best practices for personalized treatment and thus better outcomes. Progyny developed proprietary Smart Cycles – treatment bundles that meet the unique needs of the patient. These bundles give patients access to Progyny’s selective network of fertility specialists and everything needed for a comprehensive fertility treatment cycle. This includes the support of a Patient Care Advocate (PCA) throughout the course of treatment from the initial consulting through delivery, all diagnostic tests, and access to the latest technology. It even offers a prescription program, ProgynyRx, so members have access to their medications when they need them without having to haggle with plan administrators. Progyny, unlike conventional insurance companies that have introduced a fertility benefit, understands that treatment must be individualized. It prioritizes outcomes and surpasses national averages for single embryo transfer rates, pregnancy rates per IVF transfer, and live birth rates, while reducing the number of miscarriages and IVF multiple rates. Progyny’s customers are self-insured employers and now includes almost 400 such organizations. Employers purchase Progyny services and make them available to employees. Given the tight labor market and that employers are competing to attract high quality talent, employees are in a position to be selective about where they work. A large number of employees say that benefits are an important factor in that deciding process. While the employee may use the service, from an initial consultation to embark on their fertility journey to delivery of a child, the employer seems to benefit the most. Not only does Progyny help employers attract and retain great talent, but it also helps make employees happy and healthy, reducing absenteeism and increasing productivity. Additionally, over time Progyny has been able to leverage its scale to reduce costs to employers significantly compared to US health care costs as a whole. As Progyny is designed to assist everyone on their journey to parenthood, it also caters to same-sex couples and single parents. This individualized support makes the company attractive to companies interested in building out or strengthening their DEI programs. Given that 80% of people surveyed say that they want to work at a company that prioritizes DEI, this is an additional benefit.