Access to mental health resources and attitudes about mental health are improving. Social stigmas are lifting, particularly in younger age brackets, and more healthcare professionals are embracing whole person care. While there remains a critical shortage of behavioral health providers, insurance coverage has expanded significantly in the last 10 years.
The social isolation, public fear and other stressors brought on the pandemic has caused a greater incidence of mental health and substance abuse issues. But we are seeing significant investment in this area. In October 2020, Headspace and Ginger merged, creating a $3 billion mental health company. The company has reached 100 million consumers through Ginger’s teletherapy services and Headspace’s meditation and mindfulness app. We expect to see behavioral health continue to expand and drive policy in healthcare.