A 5 percent increase in productivity through investing in the treatment of common mental health issues could be worth as much as US$700 billion annually to the global economy, according to a new study backed by the World Health Organisation and the World Bank.
The study, published in The Lancet Psychiatry, also estimates that it would cost less than a quarter of that figure to reach a suitable level of psychosocial counselling, provide anti-depressant medication, and scale up other public services.
“We know that treatment of depression and anxiety makes good sense for health and well-being; this new study confirms that it makes sound economic sense too,” said Dr Margaret Chan, Director-General of the World Health Organisation.
Yet despite healthy potential returns, the study acknowledges that mental illnesses are on the rise globally, with over 615 million known cases of depression or anxiety in 2013. Mental illness is also said to be affected by emergencies and conflicts, and can remain undisclosed, adding to the complexity of delivering healthcare programmes.
The full findings of the study will be discussed at a series of events co-hosted by the World Bank and World Health Organisation later this week, which Development Finance will be attending, where world leaders are expected to make a case for increasing the proportion of national healthcare budgets assigned to mental health services. The global average is currently 3 percent.
As part of the World Bank Group-International Monetary Fund Spring Meetings being held in Washington DC, delegates will share insights from Brazil, Ethiopia and South Africa, where healthcare systems are being re-engineered to accommodate mental health issues.
The new study is intended to contribute to this process and is the first major piece of research to be published since the United Nations General Assembly agreed to reduce premature mortality from non-communicable diseases by a third by 2030 through the Sustainable Development Goals, in 2015.