The proliferation of the number of people with mental health problems has been met with declining resource allocation to behavioral healthcare, primarily because of the healthcare reforms and the increase in the use of contracts with health maintenance organizations that unfortunately do not consider mental health. Moreover, issues on mental health have always held stigmas despite the fact the one in five Americans have a mental health issue. Thus, the need to raise awareness over mental health has never been more profound.
A survey by Mental Health America (2019) revealed a worrying state over the condition in the country, reiterating the need for mental healthcare institutions. In the report, the researchers found that over 44 million American adults have a mental health condition. Incidentally, the youth are at the most risk of developing mental health challenges – a fact proliferated by drug consumption and abuse. The report indicates that the number of youths with major depressive episodes increased to 12 percent from 11 percent, yet, only 1.5 percent of the youth sought treatment over their mental condition. Furthermore, the researchers found that Americans 9 million American adults reported to having unmet needs regarding their mental health challenges, a factor contributed by the shortage of mental health facilities and a shortage in the mental health workforce.
The need to establish a mental health facility is also confirmed by the number of people harming themselves after developing mental illnesses. The report by Mental Health America (2019) confirmed that while up to 18 percent of Americans have mental health problems, over 8 percent result from substance abuse. The report also indicates that Americans with suicidal thoughts continue to rise to the current 4 percent. In addition, 12 percent of American youths experience major depressive episodes. Based on these reasons, the timing to establish a mental health facility is timely, as confirmed by Lieberman et al. (2017). The authors acknowledge that never before has the need to improve mental health care been more profound in the U.S. The authors posit that there is an urgency to address and enhance mental healthcare, mass violence, underscored by the glaring suicide levels, homelessness, opiate addiction, and maladies evidenced in today’s societies. Moreover, the authors posit the national mental health care system is “broken,” thus adversely affecting large segments of society that have nowhere to turn to for assistance.
The launch of Vero Wellness Center will come at a time the nation requires mental health institutions the most. The inability by the federal and state governments to provide mental health services means that private institutions such as Vero Wellness Center will not only be a profit-making venture but will play a vital role in serving and improving the community’s welfare. This investment will take away part of the economic burden that weighs on the government and the country’s economy. Lieberman et al. (2017) estimate that the United States loses $210 billion to depression each year. Treating mental health conditions at Vero Wellness Center will contribute to the betterment of the patients, the society and the economy.
Situational Analysis: Industry Definition and Market Analysis
The value of the United States mental health and substance abuse services industry is estimated at $50 billion, served by an estimated 17000 facilities across the country (Harris Williams and Co., 2014). The value of the industry along with ancillary services is poised to rise as mental health services reach an all-time high. The report by Harris Williams and Co. (2014) indicates that the rise in demand for mental health services follows the decline in bed allocation by major hospitals to patients with mental disorders. The report further states the number of public psychiatric beds reduced by 13 percent between 2000 and 2011, a factor contributed to by the disconnect between supply and demand which has resulted in the preference for shorter stays at the hospitals, growth of outpatient and community-based services, and the prevalence of mental health care among the homeless (Wiktorowicz etal., 2019). Nonetheless, the United States mental health industry remains fragmented. To remain dynamic, the industry has had to incorporated changes as prescribed in the Affordable Care Act (ACA).
Despite the lack of investment in the mental health industry, studies indicate that mental disorders have a significant impact on the length and quality of the patient’s life. Leading categories in the United States Disability Adjusted Life Year (DALY), shows neuropsychiatric disorders lead with 18.7 percent of the DALY having been split between mental and behavioral disorder with 13.6 percent, and neurological disorders with 5.1 percent (Klakk et al., 2018). According to the Klakk et al., (2018) the cardiovascular and cardiovascular diseases category takes up 16.8 percent of the U.S. DALY contributors, while neoplasms and musculoskeletal disorders take up 15.1 percent and 11.8 percent respectively. Other contributors to the U.S. DALY scheme are diabetes, urogenital, blood and endocrine diseases 6.5 percent, and other non-communicable diseases 5.1 percent. (If you need a similar paper, contact buy term paper online).
Meanwhile, the mental and behavioral contributors to the U.S. DALY are as follows. Major depressive disorder 3.37 percent, drug use disorder 2.61 percent, drug use disorder 2.61 percent, anxiety disorders 2.28 percent, alcohol use disorders 1.4 percent, and schizophrenia 2 percent (Klakk et al., 2018). As a measure of the total disease burden, it is apparent that commercial opportunity exists in the mental and behavioral diseases industry. Klakk et al., (2018) contends that investments in this industry could also contribute to extending the life of American living with mental illnesses, who currently have a shorter lifespan amongst all people.
There exist substantial unmet needs in mental health service resulting from a growing population of persons with mental health illnesses (Walker et al., 2015). According to a report by Harris Williams and Co. (2014), the prevalence of adults with mental illness today, with the number of people reported to have mental illness disorders rising steadily. Notably, 18.9 percent of persons over the age of 18 have some form of mental illness, while 19.6 percent of persons between 18 and 25 years have the same. Furthermore, the prevalence of mental illness among women is higher than men – in 2017, 23.3 percent of women reported having mental illness against 15.1 percent of men (“Mental Illness, n.d.). Meanwhile, 21.2 and 15.8 percent of persons between 26, 49, and 50 and older have reported to having mental illness (“Mental Illness,” n.d.). Overall, 14.9 percent of men and 22 percent of women have mental health challenges. Despite the prevalence, there has been a decline in the supply of medical health. between 2000 and 2011, Harris Williams and Co. (2014) report that investment in the sector fell 13.6 percent – this is beside the demand for inpatient mental healthcare that rose by 14.5 percent during the same period. These unmet needs, according to Harris Williams and Co. (2014), are largely in the adult mental health care industry. Here, over a third of serious mental illness patients and a half of moderate mental illness patients have no access to mental health treatment. Besides the needs, there exist challenges that limit access to mental healthcare by patients with mental illnesses. (Order a custom paper @ Discussionboardhomeworkhelp.com)
About 45.7 percent of patients fail to access mental health care following increased costs in medical care Harris Williams and Co. (2014). This is in addition to the fact that 28.2 percent of patients with mental illnesses cannot handle the problem on their own. The report by Harris Williams and Co. (2014) further states that 14.3 percent of the patients do not have time to visit a hospital while 10.2 percent of the population of persons with mental health challenges do not feel the need for treatment. Furthermore, 9.6 percent of the patients are concerned about confidentiality, 9.5 percent feel that their condition could change how society perceives them, while 9.5 percent do not want others to find out about their condition. Meanwhile, 8.1 percent of persons with mental health diseases indicated that they feared a negative impact at work after reporting their condition, while 7.9 percent of the said population views treatment as ineffective (Parcesepe and Cabassa, 2013). Indeed, stigma remains the largest impediment to stopping the prevalence of mental health diseases.
