WASHINGTON, July 31, 2012 (GLOBE NEWSWIRE) -- The International Foundation for Research and Education on Depression (iFred) spearheads an effort to highlight the impact depression has on the economy and in the workplace. A part of iFred's core mission is rebranding the stigma depression has in a positive light, key to this is promoting the cost efficient impact implementing depression intervention programs has on business' bottom lines.
"Money is a motivator," said Kathryn Goetzke, Founder of iFred and leading healthcare and depression expert," it is our hope that by publicizing the impact depression has on companies' bottom-lines, corporations will be motivated to take preventive action for their employees and offer guilt-free treatment. Depression is a leading cause of disability worldwide, and the greatest healthcare cost to business accounting for sometimes more than half of all medical dollars paid, this is why iFred launched the Field For Hope* campaign. Depression is estimated to have an annual toll on U.S. Business, which amounts to about $70 billion in medical expenditures, lost productivity and other costs. Businesses that implemented depression intervention and treatment programs significantly reduced healthcare costs, even after factoring in cost of the program implementation."
Depression ranks among the top three-workplace issues, following only family crisis and stress. When given access to correct care, one study showed companies to save an average of $10,000 a year per employee in prescription drug and wage replacement costs alone. Additional studies showed either a reduction in overall healthcare costs, or no difference, while improving the health and lives of their employees. According to Canadian research, 10 percent of the workforce is currently depressed, and only 6 percent of those are getting adequately treated.
"The negative stigma associated with depression often hides the fact that it is a priority," said Goetzke. "Despite depression's high treatment success rate, nearly 75 percent of those suffering from depression do not actively seek nor receive proper treatment. We believe that by bringing awareness to the economic and social impact depression has on families, communities and countries around the world we can combat the negative stigma and ensure people get the help they need."
Not many people are aware of the severe economic impact depression has on business, commerce and development.
- Less than 25 percent of those with depression are getting help for their disease, simply because of negative perception / poor branding / stigma, and only 6.25 percent are getting adequate detection, diagnoses, and treatment.
- 35 million Americans (more than 16 percent of the population), and 121 million across the globe, experience depression. (National Institute of Health, 2003 National Comorbidity Study).
- Our most brilliant thinkers have made major contributions to society while receiving support; as we move from a labor intensive to technology driven society, we must harness this brilliance for innovation.
iFred strongly encourages corporate responsibility in addressing mental health. iFred offers a set of Best Business Practices to ensure a working environment conducive for preventing depression, which includes training executives and managers at all levels on early identification of depression, with written policies to support managers, integrating depression awareness in all Employee Assistance Plans (EAP) Programs, and routinely improving the utilization of these programs. A health index to monitor success of both individuals, and the overall company as well as the implementation of programs that encourage healthy work practices are instrumental for the prevention of depression in the workplace.
* The Field for Hope campaign is largest-scale, international effort in history to focus directly on raising funds for depression research and education outreach. The goal of the campaign is to plant one million Sunflowers in fields in areas of Liberia, Kenya, Nepal, Germany, the United States and more. Each Sunflower will serve as a symbol of light and hope for the 121 million people living with the treatable disease of depression. This unique movement has captured the attention of leaders, activists and media from around the world who are working to raise awareness and combat the effects of depression on individuals, communities and nations. The fundraising campaign runs from July 1, 2012 – September 30, 2012.
iFred is a 501(c)(3) organization whose primary purpose in to reduce and eventually eradicate the stigma associated with depression. Depression is treatable, yet fewer than 25 percent of those experiencing a major depressive episode receive treatment, primarily due to the stigma and negative perception of depression. By "shining a positive light" on depression, iFred seeks to positively "rebrand" and "reposition" with the sunflower, the color yellow, and the focus on Hope, to secure that someday 100 percent of depression patients are willing and able to get the help they need.
www.iFred.org
@ifredorg @fieldforhope