A recent study shows that increased temperatures have a detrimental effect on mental health. In fact, rising temperatures are correlated with a staggering rise in suicide rates. This comes at a time when the United States federal government is actively denying the man-made impact on global climate change. This puts millennials into a particularly precarious position. They look out over the economic landscape to see fewer opportunities and higher income inequality at a time when climate change is ravaging the earth. It’s no wonder that millennials, in particular, are showing a rise in depression and anxiety.
Oren Frank, CEO and founder of Talkspace, is attempting to combat this rise in mental illness with his tech company. Talkspace offers up video chat mental health services for just $79 per week. The company also offers a messaging service that costs just $49 per week. And it seems people prefer the messaging service.
Oren Frank has discovered the preference for messaging through his consultation with large companies. Talkspace is contracted to offer up its services to the employee base of large companies. Oren Frank claims that about 10% of the company’s employees begin to use the service while most prefer the messaging side of the business.
These massive companies are concerned about a decline in productivity. The rise in depression and anxiety has had a negative economic impact that Talkspace can help combat. And Oren Frank is poised to take the company public. He has made some bold moves in an effort to increase the company’s valuation.
The mental health services company has recently hired a chief medical officer. Neil Leibowitz comes from United Health with a wealth of connections and experience in the health insurance side of the business. This comes at a time when the company is moving towards prescribing medications through its online services. This will all have a beneficial economic impact on the company’s valuation.
It’s easy to root for this mental health services company. Head on over to Oren Franks twitter feed and you’ll find a man deeply concerned with mental health issues pertaining to the youngest generation in our society.