Health Plans And Employers Must Invest In Virtual Mental Health Support To Prevent Attrition, Improve Productivity, And Reduce Medical Spend

According to the Substance Abuse and Mental Health Services Administration (SAMHSA), one in 5 Americans manages a diagnosable mental health condition in any given year, with new research suggesting that up to 80% of people will manage a diagnosable mental health condition in their lifetime. Enrollment for virtual health support for mental health is on the rise. In 2020, one out of 11 mental health visits will be delivered virtually. Mental health conditions significantly impact productivity within the workforce; over 200 million workdays are lost due to mental health conditions each year — the equivalent of $16.8 billion lost in employee productivity. On average, individuals must wait up to 25 days for a psychiatry appointment — but waiting comes at significant cost to the employer and health plan. Putting off care for mental health needs can increase medical spend by up to 300%. Health plans and employers must partner with new offerings to fill support gaps to decrease rising medical spend, stem attrition, and improve productivity. Start tackling mental health issues in your organization by surveying the workforce, finding a technology partner, and creating the right cultural shift.