HomeBlogPatientCan a Mega-Company Improve Mental Health Care? Can a Mega-Company Improve Mental Health Care? June 25, 2018Patient Can the rising cost of healthcare be solved by corporate America? That’s the question that Warren Buffet, Jeff Bezos and Jamie Dimon are hoping to answer. These CEOs of Berkshire Hathaway, Amazon, and JP Morgan are forming a “mega-company” specifically to tackle healthcare issues. They have announced that the company will be headquartered in Boston, a thriving medical hub, and will be led by noted writer, doctor and researcher Atul Gawande. The new company will attempt to build an industry model that works for patients, caregivers and providers. Each company will bring its business expertise to the venture: Amazon: technology and customer experience Berkshire Hathaway: insurance expertise JP Morgan: financial muscle, leveraging existing banking relationships with the largest healthcare companies and regulators By integrating successful business tactics with groundbreaking scientific developments, the new venture hopes to create a framework to improve patient care, while lowering medical costs and yielding better patient results. Same Road, Different Map There is a lot to tackle to improve the availability of quality healthcare – including mental healthcare. In 2008, Congress passed the Mental Health Parity and Addiction Equity Act, promising to make mental health and substance abuse treatment as accessible as care for any other physical condition. However, enforcement of mental health parity laws simply hasn’t happened yet. Even though opioid overdoses have increased by 30 percent and there has been a spike in suicide rates, patients are still struggling to get access to – and coverage for – appropriate and successful treatment. Yet, the need has never been more important. According to the Center for Workplace Mental Health, the economic burden for depression in the United States is $210.5 billion per year. In fact, the organization states: “For every dollar spent on MDD [major depressive disorder] direct costs in 2010, an additional $1.90 was spent on MDD-related indirect costs.” New Ways of Approaching Healthcare While quality mental healthcare continues to be a challenge, scientific advances are being made to help people suffering from mental illness. For example, genetic testing (like the GeneSight test) is being used to improve patient care. With this approach, patients get more personalized care, possibly take fewer meds, and experience better outcomes. According to a study of 13,000 behavioral health patients published in Current Medical Research and Opinion, prescription expenses were more than $1,000 a year lower on average when healthcare providers were guided by GeneSight testing. In fact, one out of five patients were prescribed fewer medications after receiving the test. The Future of Medicine As the new mega-company reimagines medicine and insurance coverage, personalized medicine could be a game changer. Patients could get more targeted treatments that yield faster and better outcomes. And insurance companies could consider more readily cover tests proven to reduce the overall cost of mental healthcare. Time will tell whether this mega-company will make a true difference in the larger world of healthcare. But it seems that combining their efforts to work on this issue has the potential for promising returns. Our articles are for informational purposes only and are reviewed by our Medical Information team, which includes PharmDs, MDs, and PhDs. Do not make any changes to your current medications or dosing without consulting your healthcare provider. The GeneSight test must be ordered by and used only in consultation with a healthcare provider who can prescribe medications. As with all genetic tests, the GeneSight test results have limitations and do not constitute medical advice. The test results are designed to be just one part of a larger, complete patient assessment, which would include proper diagnosis and consideration of your medical history, other medications you may be taking, your family history, and other factors. If you are a healthcare provider and interested in learning more about the GeneSight test, please contact us at 855.891.9415. If you are a patient, please talk with your doctor to see if the GeneSight test may be helpful. 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We’re thrilled to share that 3 million patients (and counting!) have now taken the GeneSight test! We're so grateful to the dedicated healthcare providers who... Read more Patient The Model Minority Myth and Mental Health The model minority myth stereotypes one cultural group, typically Asian Americans, as “intelligent, hard-working, and diligent and therefore more academically, ... Read more Learn more Learn more about GeneSight How to talk to your provider View our clinical studies
Patient Common Antidepressant Side Effects Taking an antidepressant can be an effective way to help treat a mental health condition like depression or anxiety. However, these medications can also cre... Read more
Patient MTHFR Mutations: Clinical Implications and Management Strategies MTHFR mutations—changes in the methylenetetrahydrofolate reductase (MTHFR) gene—have gained increased attention in the medical community due to their potent... Read more
Patient Can an App Help Me Manage My Anxiety? Health and wellness smartphone apps have become so common that if you can name a health goal, desire or condition, you can probably find an app for it. N... Read more
Patient Black Trailblazers of Psychiatry and Mental Health: A Legacy of Healing and Advocacy As we celebrate Black History Month, we want to recognize a few individuals who have made extraordinary contributions to the field of psychiatry and mental heal... Read more
Patient Mindful Moments: Tips for Anxiety If a well-meaning friend or family member has ever told you to “just breathe” when you’re feeling worked up or stressed out, you’d be forgiven if you felt l... Read more
Patient Hints To Help You Have A Better New Year The holidays have ended, and a new year has begun—a time when many embrace a fresh start by setting New Year’s resolutions. This year, why not consider s... Read more
Patient Movement as Medicine: Solutions for Anxiety Moving forward. It sounds like a nice idea, especially when you’re feeling stuck deep in the throes of an anxiety spiral. But it turns out that physically m... Read more
Patient Weight-Loss Drugs and Mental Health: What You Need to Know New medications for weight loss seem to be flying off pharmacy shelves these days. But could they be linked to mental health conditions? Researchers are ... Read more
Patient 3 million patients (and counting!) have now taken the GeneSight test! We’re thrilled to share that 3 million patients (and counting!) have now taken the GeneSight test! We're so grateful to the dedicated healthcare providers who... Read more
Patient The Model Minority Myth and Mental Health The model minority myth stereotypes one cultural group, typically Asian Americans, as “intelligent, hard-working, and diligent and therefore more academically, ... Read more