For the first time in Israel, impact investors will work to reduce hospitalizations in the field of mental health. The joint project of Social Finance Israel and the United CPF is expected to reduce by about 30% the number of psychiatric hospitalization days in cooperation with private and institutional social investors. Social investors will invest 4 million shekels to prevent repeat psychiatric hospitalizations which amount to about 50%.
The ‘Bridge to the Soul’ social bond, which was recently issued by Social Finance Israel (SFI) in collaboration with the United Health Insurance Fund and in a joint initiative with Aya Shahar, is the first social bond of its kind in the field of mental health in Israel and the only one in the field in the world. Most of the hospitalizations in the psychiatric units are re-hospitalizations, A phenomenon known as the “revolving door”. Today, the State of Israel spends close to a billion shekels each year in order to deal with the phenomenon of psychiatric hospitalizations, when in the last decade the percentage of re-hospitalizations within a year is more than 50%.
In order to reduce the phenomenon and preserve the health of the insured, ‘Gesher LeNefesh’ brings to Israel the good news of treatment in the community and at home for those dealing with psychiatric disorders, with the aim of bringing balance and benevolent treatment of their mental state. This is alongside the exhaustion of rights, connection to rehabilitation services in the community and reduction of hospitalization days and the number of psychiatric hospitalizations. The program will operate on a pay-for-result model while promoting mental health services provided in the community.
Yaron Neuderfer, CEO and founder of SFI, says that the “Gesher LeNefesh” social bond, developed by SFI and the United Fund and in a joint initiative with Aya Shahar, who seeks to help those facing mental illness in Israel, is part of our activities to help vulnerable populations in Israeli society. The success of the program will make it possible to expand the home care model in the field of mental health to additional populations and will be a significant step on the way to a vision of preventive, accessible and community medicine in the field of mental health as well.”
In the words of Prof. Arad Kodesh, psychiatrist and director of the mental health system at Moheded: “The program is intended for people who are dealing with a mental disorder, and are forced to be hospitalized again and again due to a change in their mental state for the worse, and without the system currently adapting itself to their unique needs. We anticipate that the initiative will lead to a decrease of approx. 30% in the number of days of hospitalization, and reduce readmissions by approximately 50%. Models of intensive treatments in the patient’s natural environment are currently operating very successfully as part of the health services in many countries such as Great Britain, Australia and Canada. This is actually an innovative method of treatment in which the patient stays in his home, and the entire package of care he requires at home or in his surroundings without requiring him to be hospitalized. Not only does he remain in the supportive home environment, which many studies have found helps promote any recovery process whatsoever, but he also saves himself hospitalization which may not be easy for him, and sometimes traumatic in itself “.
Source: Maariv.co.il – בריאות by www.maariv.co.il.
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