Note that this card does not require that you are performing the skill test, or even that it's at your location. As a result, in a multiplayer game it can trigger almost every turn, keeping you sane even while playing mystic cards and occasionally helping out your fellow investigators.
Don't forget that it works with Jim's elder sign ability. Usually there's no real difference between +1 and 0, so as long as skulls don't have some terrible extra effect, it's safe to turn your elder sign into a skull and enjoy the healing.