Mental health is on the decline all over the world.
In fact, according to Morning Call, “Given the challenges of the last two years, it’s not surprising we find ourselves in a national mental health crisis. According to the Centers for Disease Control and Prevention, cases of depression and anxiety were four times higher during the first year of the pandemic compared to previous years. Nationally, the proportion of mental health-related emergency department visits among adolescents aged 12-17 years increased 31% compared to pre-pandemic numbers. In the U.S., one person dies by suicide every 11 minutes.”
The good news is more companies are lining up to help, including Datametrex AI Limited (TSXV: DM) (OTCQB: DTMXF), Teladoc Health Inc. (NYSE: TDOC), LifeWorks Inc. (TSX: LWRK) (OTC: MSIXF), WELL Health Technologies Corp. (TSX: WELL) (OTC: WHTCF), and LifeStance Health Group Inc. (NASDAQ: LFST).
In addition, according to Daybreak Health, “A national emergency in youth mental health was declared at the end of last year by the U.S. Surgeon General, the American Academy of Pediatrics, the American Academy of Child and Adolescent Psychiatry, and the Children’s Hospital Association. But the increased demand for mental health services combined with a lack of qualified mental health professionals, the cost of care, and the time it takes to find a clinician makes accessing care a challenge for most American families”