Talkspace (TALK) Partners with Amazon Pharmacy to Improve Mental Health Care

Talkspace (TALK), which is an online mental health company, is working with Amazon Pharmacy to make it easier for patients to get their medications. This partnership allows Talkspace members to have their prescriptions sent directly to Amazon Pharmacy, where they can get fast, free home delivery. It also helps doctors by making it simpler to send prescriptions, and helps patients stick to their treatment plans more easily.

Taking medication regularly is a big problem in mental health care. In fact, many people in the U.S. don’t take their prescribed meds, with only 45% to 55% sticking to their treatments for common conditions. One major reason is cost, as 21% of people with depression said they didn’t fill a prescription in the past year because it was too expensive. Amazon Pharmacy offers refill reminders and has a $5-per-month program, called RxPass, that covers many common medications to help fix this issue.

The new service builds on a previous collaboration between the two companies. Indeed, people can now check on Amazon’s Health Benefits Connector website to see if they have insurance coverage for Talkspace therapy or psychiatry. If they do, they can quickly sign up and usually get an appointment within 1 to 5 days. Unsurprisingly, Talkspace’s CEO said that the combination of therapy and easy access to medications makes treatment more effective. Amazon’s pharmacy team added that this digital setup is designed to help people get the care they need, when they need it, and at a price they can afford.

Which Stock Is the Better Buy?

Turning to Wall Street, out of the two stocks mentioned above, analysts think that TALK stock has more room to run than AMZN. In fact, TALK’s price target of $5.13 per share implies almost 50% upside versus AMZN’s 17%.

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