Blog

Did you foresee this £12M cost increase coming?

October sees World Mental Health Day marked and recognised across the globe. The overall objective of the day is to raise awareness of mental health issues and mobilise efforts in support of better mental health. This year’s focus? Mental health in the workplace.

Globally, the WHO reports, “more than 300 million people suffer from depression, the leading cause of disability. More than 260 million are living with anxiety disorders. Many of these people live with both.

The rising costs of mental health disorders

A recent WHO-led study estimates that depression and anxiety disorders cost the global economy US$ 1 trillion each year in lost productivity.” That’s no small sum.

The Guardian reports that 2016 saw the NHS prescribing “a record number of antidepressants, fuelling an upward trend that has seen the number of pills given to patients more than double over the last decade.” (The Guardian)

To demonstrate this, our analysis of the current tariff increase – due to temporary supply issues – of the generic antipsychotic drug Quetiapine (IR) in the UK, shows just how volatile the NHS’s bill for mental health can be.

Quetiapine (IR) in the UK

At-a-glance MarketView analytics

Our interrogative analytics of NHS GP Prescribing Data reveals that the monthly cost to the NHS of Quetiapine (IR)s has risen by over £12M per month in June and July. This ‘temporary’ price concession is still in place now, so the 5 months to October will result in a £50M+ extraordinary cost to the NHS, from just one drug. To put this in context the cost of protecting the whole country from flu with the ‘flu jab’ – costs the NHS around £100M per year.

Inspiremed’s rapid-fire analysis provides valuable insights from NHS and IMS prescription data at the touch of a button. And presents findings in clear easy-to-analyse visualisation dashboards like the one we picture here.

Drill down to key data sets, remove the complexities of data analysis and drive effective sales and marketing activities with real time data.

Book my demonstration

We are working in an ever evolving industry where data increasingly drives marketing and sales activity. I believe RX Analyser is the most comprehensive analytics tool available for prescription data analysis. I can already see other business areas (within my company) that could really benefit.

Sales and Marketing Manager, Leading Healthcare Company, 2016

Inspiremed’s customer service is great. They always answer calls and emails and nothing is ever a problem. What’s it like, working with Inspiremed? Open dialogue. Lots of idea sharing. Great.

Senior Manager, Global Healthcare Company, 2016

The budget impact models are a real benefit.

National Sales Manager, UK Pharmaceutical Company

Export to Excel is straightforward, which facilitates easy manipulation if required, for example, for territory planning.

Sales and Marketing Manager, Leading Healthcare Company, 2016

Need to analyse the community market? This tool can do that.

Senior Manager, Global Healthcare Company, 2016

Our sales team use RX Analyser to analyse results and opportunity; it’s used by management to measure performance and identify national trends to drive targeting and strategy.

National Sales Manager, UK Pharmaceutical Company

Sign up for added insights