Insurance Yeon “Increases social costs due to depression, suicide and dementia”
<대한데일리=임성민 기자> With the recent spread of coronavirus infection (Corona 19), social distancing has been implemented, and the number of depressed patients is increasing. Depression has a negative impact on suicide and dementia, leading to increased social costs, and it is argued that insurance companies need to expand prevention of depression.
In a recent report on’The Status of Depression and the Role of the Insurance Industry’, researcher Jang Yoon-mi of Korea Insurance Research Institute said, “According to the WHO, there are about 264 million people with depression around the world, and depression is pointed out as a major cause of disease burden.” In a national mental health follow-up study related to Corona 19, 4 out of 10 people are experiencing mild or higher symptoms of depression, and medical professionals are also increasingly complaining of depression and anxiety.”
The number of diagnosed depression based on patients treated by the Health Insurance Review and Assessment Service has increased by 7.3% annually over the past four years (2015-2019) from about 61,000 in 2015 to 796,000 in 2019.
In particular, two out of three depressed patients think of suicide, and some studies show that a past history of depression increases the risk of dementia.
In addition, patients with depression had higher risk of cardiovascular disease and stroke than those who did not.
Accordingly, social costs are also increasing. According to the Health Insurance Review and Assessment Service, the total medical care benefit cost for diagnosed with depression in 2019 was about 377 billion won, increasing by an average of 13.0% for the past four years, and the socioeconomic cost of depression and suicide is estimated to be over 10 trillion won.
Researcher Jang emphasized that insurers need to explore new revenue paths and expand the prevention of depression through non-face-to-face methods to reduce social costs.
He said, “The British National Health Service has been conducting online diagnosis of mental disorders including depression and prescription of drugs through an artificial intelligence app developed by Babylon Health, a British start-up, since November 2017.” “We have developed an API for self-measurement of mental health and a total health score assessment method based on a questionnaire format.”
“Australian life insurance company provides mental health-related medical services through a telemedicine counseling service company, and customers who use the service have doubled since the outbreak of Corona 19.” It is not allowed, but it is necessary for insurance companies to review the possibility of self-measurement and prevention of depression based on artificial intelligence and online by referring to overseas cases.”
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