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The United States is spending nearly half a trillion dollars in avoidable expenses due to mental health inequities, and that may be just the tip of the iceberg, a new report suggests.
Because of failures to provide access to the mental health needs of Americans, the country is spending an estimated $477 billion annually, according to a new report released today by Deloitte and Meharry School of Global Health. Unchecked, the cost could rise to $14 trillion by 2040, the report estimates.
Jay Bhatt, managing director of the Deloitte Center for Health Solutions and Health Equity Institute, says those figures should spark a conversation about finding ways to help Americans get the care they need.
“Mental and behavioral health is a national challenge that affects millions of Americans of all ages, backgrounds and walks of life, and particularly, really impacting youth at this time, too,” Bhatt tells Chief Healthcare Executive®.
“The cost of mental health inequities that we’re facing today is an urgent challenge,” he adds. “And it’s unaffordable, as you see if we continue on the path that we are today.”