Progyny

In recent years, fertility treatment has been brought within reach to more Americans. Over 50% of the U.S.’s largest companies now cover services like in vitro fertilization (IVF), and more than 20 states have passed legislation mandating some type of fertility coverage. Established in 2015, Progyny is a pioneer in the space as the U.S.’s only publicly-traded fertility benefits company. The company partners with more than 650 clinics and over 1,000 providers across the country—so this February, when an Alabama Supreme Court ruling caused providers there to suspend their IVF services, Progyny’s network meant that it could help patients travel elsewhere, minimizing disruptions to their care. Patients impacted by the ruling had access to travel reimbursements and the company covered the cost of shipping embryos to other in-network fertility clinics, allowing patients to continue their treatments out of state. Progyny’s stock dropped in value following the court ruling, but CEO Pete Anevski said that the news woke people up to the importance of fertility treatments. “This has elevated awareness around IVF,” he told Barron’s in February. Progyny is now expanding its services to include other areas where there are major gaps in coverage, like perimenopausal and menopausal care.