Mapping out the Mental Health startup ecosystem (Medium):
“Today, 1 in 5 people have a diagnosable mental illness, and 1 in 20 people have difficulty leading their everyday life due to mental illness. However before even talking about the prevalence of the issue?…one must realize how ineffective the current infrastructure is. Here are some of the most mind-blowing findings:
- Misdiagnosis: 60% of Americans go undiagnosed and therefore never seek mental health treatment. In the UK, nearly half of adults believe that, in their lifetime, they have had a diagnosable mental health problem, yet only a third have received a diagnosis
- Inadequate drug prescription: In the US, 80% of psychotropic drugs are prescribed by primary care physicians (PCPs) rather than psychiatrists. In the UK, 75% of GPs have prescribed medication even though they felt psychological therapies would be more effective.
- Shortage of therapists: There is a 26% appointment rate in the US, with 25 days on average to book an appointment. It is estimated that 75% of people with mental health problems in England may not get access to the treatment they need.
- Cost: Mental health costs the US $201bn and the UK £105bn every year, this excludes loss of productivity in the workplace and comorbidities. A session with a psychotherapist costs $80-$120 on average, 45% of untreated individuals cites cost as a barrier, and serious mental illness is more prevalent among adults who are uninsured and those who are poor.
- Workplace discrimination: Today, almost two out of three people who have received hospital treatment for a mental health condition say they have experienced discrimination at work or when trying to get employment.
The prevalence of mental health is ultimately very well documented but the bottom line is this: for an issue of this size, the infrastructure to solve it is simply too inefficient.”
–> Keep reading Mapping out the Mental Health startup ecosystem by investor and entrepreneur Edouard Gaussen.
News in Context:
- Mindstrong Health identifies digital biomarkers of cognitive function using smartphone data
- Five reasons the future of brain enhancement is digital, pervasive and (hopefully) bright
- The FDA creates new Digital Health unit to reimagine regulatory paths in the age of scalable, AI-enhanced innovation
- Neurotechnology can improve our lives…if we first address these Privacy and Informed Consent issues
- Learn more and discuss at the 2019 SharpBrains Virtual Summit: The Future of Brain Health (February 26–28th)
- Presentation by Dr. Tom Insel, President and Co-Founder of Mindstrong Health, at the 2017 SharpBrains Virtual Summit (December 5–7th):