GETTYSBURG, Pa., May 13, 2020 /PRNewswire/ -- In 2019, the U.S. mental health market spending reached $225 billion, accounting for nearly 5.5% of all health spending. Spending in the mental health market has increased by 52.1% since 2009—over the same decade, the U.S. population increased by 7% and the U.S. medical inflation rate increased by 34%. This was one of the findings from The U.S. Mental Health Market: $225.1 Billion In Spending In 2019: An OPEN MINDS Market Intelligence Report.
OPEN MINDS Chief Executive Officer Monica E. Oss explained in her analysis (see Mental Health Spending Now & After The Pandemic) that "An increase in demand does not necessarily translate into an increase in spending, given that mortality in the COVID-19 crisis is heavily skewed toward already vulnerable consumers. Then there is the rising proportion of the U.S. population that is uninsured and we know the uninsured population in the U.S. does not get the basic services they need for any type of health care."
The report provides an overview of trends in spending in the U.S. mental health market—with a breakdown of spending by payer and by care setting. The report also provides an estimate per capita of mental health spending by state. According to the report findings, public spending on mental health service has increased, and private spending on mental health services has decreased—likely because of the increased number of individuals with serious mental illness. In 2019, public payers accounted for the majority (62.7%) of mental health spending at $149.5 billion, while private payers accounted for the remaining $88.9 billion (37.3%). In 2009, public payers accounted for the majority (60%) at $88 billion, while private payers accounted for the remaining $59 billion (40%).
The report, The U.S. Mental Health Market: $225.1 Billion In Spending In 2019: An OPEN MINDS Market Intelligence Report, is available at no charge to Premium and Elite members of The OPEN MINDS Circle and can be purchased in the OPEN MINDS shop for $495.
For questions and media inquiries, please contact Michelle Coughlin-Malak, Vice President, Market Intelligence, OPEN MINDS at 717-334-1329 or [email protected].
ABOUT OPEN MINDS
OPEN MINDS is an award-winning information source, executive education provider, and business solutions firm specializing in the domains of health and human services serving consumers with chronic conditions and complex support needs. For thirty years, we've been pioneers for change – helping organizations implement the transformational business practices they need to succeed in an evolving market with new reimbursement, competition, policies, and regulations.
OPEN MINDS is powered by a national team of experienced executives and subject matter experts with specific expertise and experience in nine key market areas – mental health, addictions, chronic conditions, autism and intellectual/developmental disabilities, long-term care, children's services, social services, juvenile justice, and corrections health care. Our mission is to improve the quality of care for consumers with complex support needs by improving the effectiveness of those serving them – provider organizations, payer and insurance organizations, government agencies, pharmaceutical organizations, and technology firms. Learn more at www.openminds.com.
SOURCE OPEN MINDS