October 13, 2014
by A-La Park, Paul McCrone and Martin Knapp
In April the BBC reported that mental health trust budgets for 2013-14 fell by 2.3% since 2011-12. Under current budget constraints, it has become increasingly important to demonstrate good value for money when allocating scarce resources. In a recent study funded by the Department of Health we found that investing in early-intervention services for young people experiencing early psychosis can be financially advantageous in both the medium- and long-term.
Our recent article in Early Intervention in Psychiatry explored potential cost-savings that could be achieved through earlier intervention for people who have experienced first-episode psychosis. We found that early intervention as a multidisciplinary team approach targeting young people aged 18-35 can generate £2,087 of savings per person over a three-year period through improved participation in educational activities and a better contribution to the labour market.
Continue Reading Early intervention for first-episode psychosis: broadening the scope of economic estimates