Some companies cover depression treatment and some don't, at least in the U.S. If you are employed and suffering from depression, you may benefit from the news release I've pasted below. It gives information about a free internet based 'depression calculator' that employers can use to calculate the costs and benefits of treating depression among their employees both with medications and counseling. If you think it will help, take it to your human resources department, as it presents a pretty persuasive argument for treatment that might result in more employees with depression being treated. Good luck!
Workers May Benefit from Free New 'Depression Calculator' that Computes Financial Benefits to Employers of Treating Depression
Washington, D.C. - Workers suffering from depression may benefit from a new free internet-based 'Depression Calculator' that shows employers the benefits of treating employees both with medications and counseling.
The new calculator, which gives employers the whole picture on the economics of bringing patients with depression into needed medical care, is available at http://www.depressioncalculator.org. or http://www.phrma.org.
The calculator was developed by The HSM Group, Ltd., a health care consulting firm based in Scottsdale, Arizona, with support from the Pharmaceutical Research and Manufacturers of America (PhRMA).
Employees suffering from depression are affected, on average, about 30 to 50 workdays per year by absenteeism or low productivity, and they sustain average annual medical costs that are $2,000 to $3,000 higher than those of other employees. The combination of missed days, lower productivity when on the job, and other associated issues costs the U.S. economy approximately $80 billion annually. Yet a high percentage of those with depression do not receive treatment.
"Employers and employees both come out ahead when employees with depression receive the right medical treatment, with both counseling and medicines. Employers see improved work productivity and decreased absenteeism," said Alan F. Holmer, President and CEO, PhRMA.
The calculator estimates the incidence of depression and its impact on a company's work force, based on the company's size, type of industry, location, and the age/gender breakdown of employees. It computes the expected number of days each year employees will be absent or suffer low productivity due to their depression and calculates the associated costs to a business. Finally, it projects the net savings the company can expect, after accounting for the cost of treatment, if employees obtain treatment. An employer can change the key assumptions so that the calculation best reflects the characteristics of that particular work force.
"This calculator integrates extensive research findings from peer-reviewed literature and turns them into useable results for employers. It's an important research-based management tool that lets employers and others see the whole picture on the economics of bringing patients with depression into needed medical care," said Sheryl Bronkesh, president of The HSM Group, Ltd.
Even a small company can experience significant costs from depression. A company with 500 employees, for example, can expect about 25 employees to be suffering from depression at some time during a 12-month period. This amounts to 750 to 1,250 days lost each year to absenteeism and low productivity.