Economics, Finance and Banking

Economics and mental health

In addition to the growing evidence of the major economic impacts of mental illness, as well as the growing awareness of the effects that economic conditions can have on mental health, governments and other budget authorities place increasing emphasis on economic data to support their decisions. Here we consider how economic assessments (including cost effectiveness analysis, cost-effectiveness analysis and related approaches) can provide evidence to inform the development of mental health policy strategies, and to obtain specific results at the treatment or care level related to service providers and funded organizations. We provide a review and reflection on the economic evidence related to mental health using the concept of longevity, analysing costs and outcomes to illuminate the scope of stressors. The past 30 years have seen rapid growth in the mental health economy, but huge gaps in knowledge remain. Throughout the years of life, clear evidence exists in areas of obstetrics and gynaecology for the diagnosis and treatment; reducing the risk of mental health problems in childhood and adolescence; promoting treatment, especially psychotherapy, for depression; early community-based interventions and support for mental health care; and psychotherapy and caregiver interventions for many aspects of dementia. From this discussion, we bring out the key challenges we face in trying to take evidence from research and translate it into policy recommendations or practice, and from there to actual practice regarding better treatment and care.

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