Depression prevention, labour force participation and income of older working aged Australians: a microsimulation economic analysis

Veerman, J. Lennert, Shrestha, Rupendra N., Mihalopoulos, Cathrine, Passey, Megan E., Kelly, Simon J., Tanton, Robert, Callander, Emily J., and Schofield, Deborah J. (2015) Depression prevention, labour force participation and income of older working aged Australians: a microsimulation economic analysis. Australian and New Zealand Journal of Psychiatry, 49 (5). pp. 430-436.

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Abstract

Objective: Depression has economic consequences not only for the health system, but also for individuals and society. This study aims to quantify the potential economic impact of five-yearly screening for sub-syndromal depression in general practice among Australians aged 45-64 years, followed by a group-based psychological intervention to prevent progression to depression.

Method: We used an epidemiological simulation model to estimate reductions in prevalence of depression, and a microsimulation model, Health&WealthMOD2030, to estimate the impact on labour force participation, personal income, savings, taxation revenue and welfare expenditure.

Results: Group therapy is estimated to prevent around 5,200 prevalent cases of depression (2.2%) and add about 520 people to the labour force. Private incomes are projected to increase by $19 million per year, tax revenues by $2.4 million, and transfer payments are reduced by $2.6 million.

Conclusion: Group-based psychological intervention to prevent depression could result in considerable economic benefits in addition to its clinical effects.

Item ID: 41166
Item Type: Article (Research - C1)
ISSN: 1440-1614
Keywords: depression; prevention; labour force participation; income
Funders: Australian Research Council (ARC), Pfizer, National Health and Medical Research Council of Australia (NHMRC)
Projects and Grants: ARC LP100100158, NHMRC APP1052742
Date Deposited: 04 Nov 2015 03:35
FoR Codes: 14 ECONOMICS > 1402 Applied Economics > 140208 Health Economics @ 100%
SEO Codes: 91 ECONOMIC FRAMEWORK > 9102 Microeconomics > 910209 Preference, Behaviour and Welfare @ 50%
92 HEALTH > 9204 Public Health (excl. Specific Population Health) > 920408 Health Status (e.g. Indicators of Well-Being) @ 50%
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