'Show me the money': improving the economic evaluation of mental health services

Ir J Psychol Med. 2013 Sep;30(3):163-170. doi: 10.1017/ipm.2013.41.

Abstract

Background: Compared with the United Kingdom, mental health services in Ireland are under-funded and under-developed. This may be partly due to the neglect of economic analyses concerning mental health services in Ireland, as few policy makers would invest in the sector without evidence that such investment represents 'value-for-money' economically. Aim The aim of this paper is to highlight how mental health services can conduct economic service evaluations that ultimately will drive the policy-making agenda and future governmental investment.

Methods: A guide to the economic evaluation of mental health services, based on a narrative review of relevant policy documents and papers, in an Irish context.

Results: Three types of economic analyses that can be undertaken within mental health services are outlined: (a) cost-benefit analysis, (b) cost-utility analysis and (c) cost-minimisation analysis. In addition, a newly formulated questionnaire (i.e. the 'EcoPsy 12') is presented.

Conclusions: Economic evaluations of mental health services can provide re-assurances to policy-makers that (much-needed) investment in such services is economically viable.