RUTHERFORD, Calif.--(BUSINESS WIRE)--The One Mind Initiative at Work is pleased to announce the publication of “The High Cost of Mental Disorders – Facts for Employers,” which analyzes mental disorders’ cost impacts on employers. Focusing on depression, the report finds that this mental disorder, alone, can cause millions in costs through productivity losses, medical expenditures, turnover, and caregiving. The publication results from a collaboration between the One Mind Initiative at Work – a coalition of leading employers transforming workplace approaches to mental health – and researchers at the Tufts Medical Center Program on Health, Work and Productivity.
“This report is a first-of-its-kind effort to quantify the direct costs of mental disorders and prompt action by employers,” said Garen Staglin, Founder of One Mind at Work and Co-Founder of One Mind Institute. “It provides compelling evidence for employers to closely examine these impacts and adopt best practices, to both improve employee well-being and deliver return on investment.”
Based on a meta-analysis of recent, publicly available data, the report finds that, for a hypothetical employer with 10,000 employees and $70 million in total profit, the costs of depression are: $17.2 million overall (25% of profit); including $4.8 million due to missed work; $4.5 million due to impaired work performance; $4.2 million due to medical costs for those with untreated, diagnosed depression; and $1.3 million for employee caregiving. Other findings include that untreated depression is far more expensive than treatment, and that depression dramatically increases the costs of comorbid physical illnesses.
“Mental disorders are the most significant driver of health costs for many employers, of all industries and sizes, but it can be difficult to determine these specific impacts,” said Dr. Debra Lerner. “This report provides a clear, concise guide to the workplace costs of depression, serving as a starting point for employers to address mental disorders.”
The findings will be incorporated into a publicly available Depression Cost Calculator released later this year, which will estimate depression’s costs for a specific employer, based on inputs like number of employees and average salary. The report will also be discussed at “One Mind Initiative at Work - Launching A Global Movement,” held on September 13 and 14, 2017 in the Napa Valley, California. The event will convene Fortune 100 executives, leading academic experts, and representatives from national and international health organizations, with topics including a gold standard in workplace mental health, addressing provider shortages and access barriers, and tech-enabled approaches to brain health.
ABOUT THE ONE MIND INITIATIVE AT WORK
The One Mind Initiative at Work, established by the Kennedy Forum and the One Mind Institute, is a global coalition of leaders from diverse sectors including business, medicine, research, education, law enforcement, the military and civil society. The Initiative’s first project will focus on the development and implementation of a gold standard for workplace mental health and well-being. We believe that a committed group of CEOs can transform the way we view and approach mental health, brain fitness and well-being in the workplace, how healthcare is purchased and provided under the new paradigm, and how we can gain equity, collaboration and parity between physical and mental health. http://www.onemindinitiative.org/
ABOUT THE PROGRAM ON HEALTH, WORK AND PRODUCTIVITY
The Tufts Medical Center Program on Health, Work and Productivity is a national center for research on workplace health improvement. Its studies frequently are conducted in collaboration with employers and policymakers. The Program develops tools and interventions aimed at helping employees with chronic health conditions, or those who are serving as informal caregivers to others with serious or disabling conditions, to remain engaged and productive in their work. The Program’s Work Limitations Questionnaire (WLQ) is used worldwide to help employers assess the workplace impact of health problems. Its Be Well at Work Program is an effective intervention for employees with depression, which reduces lost work time and impaired work performance and improves mental health. https://www.tuftsmedicalcenter.org/Research-Clinical-Trials/Institutes-Centers-Labs/Center-for-Health-Solutions/