Problem: It is difficult to have access to therapy during times of stressful, anxious, and depressive episodes.
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Solution: I was reflecting to 2022 which was a turbulent period in my life. It was my 10th grade, that means that I was about to write my first ever boards. Since it was my first I never anticipated the importance of it, I took it pretty lightly at the start of the year and did not put enough attempt to study it. Due to my negligence I had not realised the mistake I made and later on experienced the consequences. I have went to receive dismal scores including an E in Physics which completely broke me. In the days that followed I have been filled with anxiety and had experienced my first panic attack. I have never faced a panic attack in my life so it was a gut wrenching experience. It was the lowest point and I really could have used help during that time.
This period got me to think about the problems I have faced and really re-evaluate how I could have received proper help to guide me through this period. Then I remember seeing an ad on BetterHelp which is an online alternative to traditional therapy. This has got me delving into the world of online therapy and how it can be the next new disruption in the field of Psycho-Therapy.
The Psycho-Therapy app aims to connect users to licensed therapists on a 24/7 basis, offering a digital platform for personalised and timely support. The process begin with a comprehensive survey that users fill out, allowing the app to match them with the most suitable therapists based on their unique needs and preferences. Whether it’s early morning or late at night, users can book therapy sessions at the next available hour, eliminating the need for long waiting periods and providing immediate assistance when it matters the most. To differentiate us from our competitors we will also provide the option to individuals to book an appointment with a therapist and meet with them in person in the next 24 hours. How this works is by using a system of geotagging any therapists who are available in a 10 mile radius and notifying them of an individual in need and they can choose to accept it.
By leveraging the power of technology, the Psycho-Therapy app bridges the gap between individuals in distress and qualified therapists. Once a user books an appointment, a notification is sent to a pool of available therapists. These professionals have the opportunity to view the patient’s profile and can decide if they are suited to help the individual. This personalised approach ensures that users are connected with therapists who are best equipped to address their specific concerns, fostering a strong therapeutic alliance that promotes healing and growth. The user will also have their first month subscription to be completely free so they do not need to worry about payments for their first few sessions.
Not only does the app benefit users, it also supports the dedicated therapists who provide their services. With each session, therapists earn a commission based on the number of hours of providing assistance, incentivizing them to offer exceptional care while enabling them to reach a wider audience. This model empowers therapists to make a meaningful impact on the lives of individuals, regardless of geographical limitations or time constraints.
To sum up, the Psycho-Therapy app revolutionises the way we access mental health support, addressing the problem of limited availability during times of stress, anxiety and depression. By offering personalised matching, 24/7 accessibility and in-person sessions, the app empowers individuals to seek help when they need it the most. The Psycho-Therapy app not only provides a lifeline for those struggling with their mental health but also facilitates a mutually beneficial relationship with the users and therapists, ultimately furthering the vision of a society that prioritizes well-being and emotional resilience.
Market: The online therapy market is on the rise. The market has been consistent and had really taken off after the Covid-19 pandemic. As per reports from Yahoo finance the global online therapy services market is estimated to increase by USD 9.31 Billion from 2021 to 2026. Due to the increasing preference of online services in general it is pushing market growth at a compound annual growth rate of 27.7%. As per Yahoo finance the market is said to be fragmented so that means there is no concentration of the market to any particular group of apps, making the market ripe for new start-ups.
Monetization: Monthly subscription plan
Contributed by: Parthiv Chowdary Anne (Business intern at Billion Dollar Start-up Ideas)