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

“RX Analyser is an extremely intuitive tool with numerous beneficial features.”

Sales and Marketing Manager, Leading Healthcare Company, 2016

“Benefits? The range of views of the data allows for easier business planning. The data being as up to date as possible enables swift response to market changes. And the ease of changing hierarchy allows for easy management reporting and oversight.”

National Sales Manager, UK Pharmaceutical Company

“My favourite feature? The market share data – and territory growth or decline. The RXA tool really allows a company to fine tune their sales strategies and focus on the more profitable accounts. It allows you to target accounts for quick wins and get a good picture of what your competitor’s focuses and successes are.”

National Sales Manager, UK Pharmaceutical Company

“Data drives our activity in marketing and sales and Rx Analyser is the perfect tool for this.”

Sales and Marketing Manager, Leading Healthcare Company, 2016

“I am extremely happy with the model and with the working relationship we have with Inspiremed.”

Country Manager UK, Leading Diagnostics Company

“One of the simplest dashboards I have used, this product is very flexible. We use it extensively to gain insight into our business, down to a CCG level.”

National Sales Manager, Leading Pharmaceutical Company, 2016

Sign up for added insights