This article originally appeared on Forbes
By: Jill Collins, CEO
Capitalizing On A New Era Of Brain Health Investment And Innovation
The rapidly expanding global mental health crisis requires raising awareness, reducing the stigma associated with mental illness, and developing effective brand strategies. Fortunately, the increased awareness of this issue has resulted in additional funding to support the development of strategies and solutions to help those struggling with their mental health. Generally, mental health has not received the same attention and investment as physical health, leaving many without access to appropriate care. Fortunately, the need to create a more balanced approach is gaining momentum. We’ll discuss how organizations can capitalize on advances in healthcare and biotechnology funding to meet the current challenges of mental health issues.
Funding Trends in Neurology and Mental Health Care
With the increase in mental health challenges due to the pandemic, funding for neurology mental health care has become a priority. The European Union Joint Programme on Neurodegenerative Disease Research (JPND) launched a transnational call in early 2022 to improve treatments for neurodegenerative diseases. Other organizations, such as Brain Canada and Cerevance, are also investing in research for treatments of neurodegenerative diseases like Parkinson’s. Meanwhile, Evotec and BMS have signed an eight-year partnership to discover neurodegenerative treatments, and the Salk Institute has received the largest grant in its history to map the aging human brain. Additionally, startups like Ellipsis Health, Alto Neuroscience, and Fisher Wallace are exploring biomarkers to diagnose and treat mental illness and other neurological disorders or creating wearables to relieve the symptoms of these conditions. Overall, increased funding for mental health care and biotech branding is paving the way for advancements in addressing these crucial areas of health.
Emerging Companies Creating Mental Health and Neurodegenerative Solutions
As mental health issues continue to increase, innovative companies are providing novel approaches to access, treatment, and diagnostics addressing this growing problem. One example is Linus Health, a brain health mobile app that measures and monitors brain function and offers physician intervention, patient interaction, or further research. Another, the Healthiest You app, provides access to virtual mental health experts. For monitoring and diagnostics, SightDiagnostics offers a point-of-care device that measures complete blood cell counts for rapid assessments, while Belay Diagnostics focuses on diagnosing CNS disorders. These solutions have the potential to dramatically change lives and improve treatment outcomes.
Strategies for Building a Sustainable Brand Around Mental Healthcare
Today’s crowded mental healthcare industry requires a sustainable brand with a unique approach emphasizing the value you provide to patients. Simply offering quality care is no longer sufficient. Investors and patients require unique, supportive qualities that distinguish you from the competition. Developing a solid brand strategy and communicating this in a commercial context is crucial for success. This requires carefully considering how you express your unique value proposition, with a focus on maintaining a professional and trustworthy image. By adopting this strategic approach, your brand will stand out in a crowded market and capture the attention of those seeking true value in mental health care.
Disease Awareness and De-stigmatizing Mental Illness
Disease awareness and de-stigmatizing mental illness are critically important topics that are on everyone’s minds. Historically, those suffering with mental health issues have been afraid to speak up, feeling ashamed or stigmatized. Community engagement events and education initiatives, help remove these barriers and provide those in need with the support and understanding they require. Creative videos and other media can now reach people from all walks of life, make mental health resources more accessible so everyone can seek the help they need, and lead happier, healthier lives.
Investing in New Methods for Prevention, Intervention, and Better Outcomes
The global focus on improved healthcare requires increased financial and technological investments. Dr. Mark C. Stahl, a neurologist in La Jolla, California, affiliated with Emanuel Medical Center-Turlock, identifies telehealth as an important development. While patients facing mental health issues often must wait for months to see a doctor, Telehealth provides easy and unlimited access to doctors.
The dramatic rise in mental health challenges during and following the pandemic highlighted the need for increased awareness and resources available to those affected. Organizations, innovative companies, and healthcare providers are diligently working to prioritize funding for mental health care, foster emerging solutions and technologies, and de-stigmatize treatments for mental illness. Additionally, with strategic branding, companies can distinguish themselves in the increasingly crowded marketplace. With continued research for new treatments and ongoing conversations about mental health conditions, we can make a lasting impact on addressing this crisis.