Mental health app Talkspace takes aim at therapy costs and wait times
- May is Mental Health Month. Fortune kicked it off with a report on a mental health app that allows employees to access providers in real time.
- Talkspace, an online therapy company, matches users with licensed, thoroughly vetted therapists, says Fortune. Users can access providers anytime, anywhere through audio, video or text. Employers like LAIKA, an animated film company, are adding the Talkspace app to their benefits programs.
- The app was designed to reduce traditional therapy costs and time. Fortune cites a Gallup Poll stating that depression costs U.S. businesses $23 billion in lost productivity annually.
Productivity losses and the dollar cost of behavioral disorders are good reasons on their own for employers to find low-cost, efficient ways to help workers maintain their emotional well-being. Considering mental health issues are difficult for employers to recognize, it's helpful to have multiple options available to combat such issues.
Mental health awareness is also a key component of holistic well-being that has been embraced by successful company cultures. While workplaces have generally become more 'psychologically safe' by some estimates, research still shows that mental health issues are largely in the shadows, with several obstacles to treatment.
Treatment for mental health disorders often is a long and expensive process. Digital tools like the Talkspace app can give users immediate access to providers, cutting down on excessive wait times that only serve to delay much-needed treatment and extend losses in productivity.
An upfront investment in problem-solving tools, like the Talkspace app and other technology-based innovations, can mean long-term wellbeing for workers and significant ROI for employers.