Technology’s Growing Role in Mental Health

The COVID-19 crisis has had a profound impact on the healthcare system and is likely to create one of the greatest mental health challenges the world has ever seen. While some technologies have been perceived as detrimental to one’s health, such as social media or gaming, others could be the key to addressing the looming mental health crisis.

Let’s take a look at how technology is playing a role in mental health and some unique corners of the market where investors can find opportunities.

Click here to learn more about investing in the MindLeap mental health platform

Quantifying the Problem

It’s important to understand the scope of the world’s mental health crisis before diving into the ways that technology can improve the situation.

Nearly half of adults (46.4%) will experience a mental illness during their lifetime, according to USA Mental Health First Aid, and five percent of adults (43.8 million people) experience a mental illness in any given year in the United States. 

Despite the prevalence of mental health disorders, only 41% of people who have a mental disorder in the past year received professional health care or other necessary services. Patients miss roughly 1-in-5 of their scheduled mental health appointments for a variety of reasons and half of those that miss an appointment drop out of care.

Those that seek care from a primary care physician are often prescribed psychotropic medications without being evaluated by a mental health professional. In addition, just one-in-five patients taking anti-depressants received psychotherapy in 2005 compared to one-in-three in 1996—and those figures continue to trend downwards.

Click here to learn more about investing in the MindLeap mental health platform

Enabling Telemedicine

Telemedicine with online video has made it easier for mental health patients to access consistent care. In addition to connecting from home, telemedicine provides instant rebooking, no wait times, easy rescheduling, and improved privacy. It also helps overcome anxiety, depression and other mental health factors affecting appointments.

Patient outcomes from telehealth based on frequency in academic literature.
Source: Mindleap

Despite its strong potential, less than 20% of Americans use telemedicine services—and the same is true across many other geographies. Many patients are skeptical of its reliability and effectiveness, while others prefer to see people in-person. One study found that remote doctors routinely made misdiagnoses and others don’t have licenses in inpatient locations.

The COVID-19 pandemic could change these habits and encourage a secular shift towards telemedicine. Patients that haven’t been able to revive care due to the greater risk of COVID-19 infection have embraced telemedicine as a way to receive opinions and treatment. Telemedicine is even being used as a “forward triage” ahead of certain visits.

Supporting Psychedelics

Psychedelics have shown promise in clinical research on mental health disorders. As dissociative drugs, ketamine, psilocybin and magic mushrooms alter a patient’s perception of space and time and create euphoric and mystical experiences. They also have a good safety profile when looking at mortality, dependence, mental functioning, injury and crime.

Mindleap is an advanced digital health platform that helps people connect with mental health specialists that can empower them to thrive and develop habits for a healthy mind. In addition to tracking moods, emotions and habits, the platform provides integrated coaching to assist people in translating psychedelic experiences into positive change. The company will also be offering addiction and holistic wellness services along with digital programs. 

Mindleap’s psychedelic aftercare helps patients process the events, emotions and thoughts that they experience during a trip. These experiences might include things like processing trauma, overcoming fears and anxieties, as well as other forms of self-discovery. Without a telehealth platform, patients using psychedelics are largely on their own.

Looking Ahead

The COVID-19 crisis could have a profound impact on the way that mental health patients access care. With telemedicine, patients can access better care without the barriers that they face when booking physical appointments. Those turning to psychedelic therapies can also access aftercare to help them process through their self-discoveries.

For more information, visit Mindleap’s website at www.mindleap.health.

Click here to learn more about investing in the MindLeap mental health platform

Resources

https://biotuesdays.com/2020/05/12/covid-19-presents-opportunities-and-challenges-for-field-trip-psychedelics/ 

Disclaimer

The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.