The Financial Impact of Schizophrenia: A Personal Perspective on Costs, Care, and Recovery
Lesley McCuaig
When clinical psychologist Lesley McCuaig thinks about the financial impact of schizophrenia, she does not only think about healthcare systems or society-wide costs. She also thinks about the early days of her own illness, when managing daily life, work, and income felt impossible. In this article, Lesley reflects on how treatment, family support, and ongoing care helped her rebuild her financial wellbeing—and why the costs of schizophrenia can reach far beyond the individual.
How can schizophrenia affect personal finances?
When I think of the economic impact of schizophrenia, I think first about the person living with the illness. Then, when I think about the family, the healthcare system, and society as a whole, the scale of it can feel staggering.
A person who is treated and living well with schizophrenia may still have ongoing costs, as anyone living with a chronic illness might. But when someone is untreated, or unable to recognize they need treatment because of anosognosia (a brain condition that makes you believe you are healthy even though you have a neurological issue), that is when I believe the financial impact can become much greater.
Looking back on my own financial wellbeing at the beginning of my illness, it was not healthy. I was not managing the necessities of life, such as cooking, cleaning, sleeping, and exercising—let alone managing a job or a source of income. I relied on government benefits and support from my family to meet my basic needs, including housing, food, and clothing.
Many people do not have those supports, or they may not know how to access them. That is one reason I think the financial impact of schizophrenia can become so difficult to separate from the social impact. The two are often tied together.
What helped me rebuild my finances after diagnosis?
As I was treated for my illness, through both counselling and psychiatric medication, I was able to attain a job and restore my finances. But this process came with much support from my family, psychiatrists, and psychiatric nurses.
Most of these resources are funded by government systems, and they have an associated economic cost. I am grateful that those supports were available to me when I needed them. Without them, I do not know whether I would have been able to rebuild the same level of stability.
Why can untreated schizophrenia increase financial pressure?
When you begin to look at people living with anosognosia, or those who struggle with treatment adherence, the costs can become overwhelming. There may be costs associated with housing, social workers, clinical therapists, psychiatrists, psychiatric nurses, medication, and support for basic needs such as food and clothing.
According to the World Health Organization, 23 million people were living with schizophrenia in 2022, which is approximately 1 in every 345 people. Among adults, the rate is around 1 in 233 01 . If you start to consider the economic cost for one person living with schizophrenia, then multiply that across millions of people, the cost to society becomes very difficult to ignore.
How can treatment and adherence affect wider healthcare costs?
As holistic care, medication effectiveness and treatment adherence increase, thanks to advancements in science, raised awareness, and earlier intervention, more and more people are living well with schizophrenia 02 That is good news for society, because it may mean less pressure on healthcare systems. People are not only surviving with this diagnosis; many are thriving.
The healthcare costs will, of course, differ from region to region and country to country. Still, one Canadian study found that the average cost for a newly diagnosed patient over five years was approximately $36,701, with 64.6% of that amount associated with hospital costs. 03 In another article, The Economic Burden of Schizophrenia in the United States, Kadakia et al. estimated the burden on society due to schizophrenia at $342.2 billion. 04
What is the financial impact on families and caregivers?
We often consider the costs to healthcare systems and the economic burden on society, but we can forget about the caregivers and families supporting the individual. They are often the ones providing housing and food to adult children who have been diagnosed with this illness.
Not all families have the financial resources to house and support another person, especially when they are already caring for others. With a lack of affordable housing, particularly for people living on government disability benefits, people with schizophrenia may be left in shelters, psychiatric units, or group housing. These are not ideal conditions for healing and rehabilitation.
What are the ongoing “maintenance fees” of living well?
I have been fortunate to receive the treatment I needed when I required it. Because of that, I have been able to rehabilitate myself to a point where I am thriving in society.
But there are still what I call “maintenance fees” associated with my wellness. These include ongoing support from the healthcare system. I still carry an economic cost to society. I do not say that with shame. I say it because living well with schizophrenia can still require support, and that support matters.
References:
The information presented is solely for educational purposes, not as specific advice for the evaluation, management, or treatment of any condition.
The individual(s) who have written and created the content in and whose images appear in this article have been paid by Teva Pharmaceuticals for their contributions. This content represents the opinions of the contributor and does not necessarily reflect those of Teva Pharmaceuticals. Similarly, Teva Pharmaceuticals does not review, control, influence or endorse any content related to the contributor's websites or social media networks. This content is intended for informational and educational purposes and should not be considered medical advice or recommendations. Consult a qualified medical professional for diagnosis and before beginning or changing any treatment regimen.
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