Jan 11, 2024 / 04:15PM GMT
Jon Cohen Talkspace Inc-CEO&Director
Good morning. First of all, I thank all of you for attending this early morning session on the last day of the conference. So, doesn't go unrecognized. As you probably know the United States, it's facing a behavior health crisis. There is not a day that goes by when some mental health behavioral health issue. That's not in the news. The presence of behavioral health issues is actually quite staggering, with 32% of adults reporting symptoms of anxiety or depression in 2023.
Furthermore, the economic cost and a loss of productivity to the country for mental health issues is close to $50 billion. The projected growth of behavioral health market is close right now to about a 5% CAGR estimated to be a $137 billion by 2032. Yet affordability and insurance access remain a major challenge for behavioral health with 42% of the population with a diagnosed condition cannot access treatment. And of those who actually have access or have insurance, 34% of those people, one in three have difficulty finding therapists to accept their insurance.
Talkspace Inc at JPMorgan Healthcare Conference Transcript
Jan 11, 2024
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