Key points: Health care inequities impact every individual’s potential to achieve health and well-being.
Certain groups of the population, especially those who have a lower socioeconomic status, tend to have a higher exposure to risk factors for disease, which often leads to health issues and shorter lives.
Health care inequities impact every individual’s potential to achieve optimal health and well-being by restricting access to affordable, high-quality care for underserved populations.
To improve population health, health equity needs to become a priority in the health sector, and measures to reduce disparities must be integrated into health programs and services.
(source: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5135524/)
But health systems are often struggling to find an adequate strategy to address social determinants of health. A recent study by Deloitte shows that a cost of $320 billion today could grow to a shocking $1 trillion in annual spending by 2040 if inequities in the US health system remain unaddressed. This could have tremendous consequences for the health and well-being of all individuals.
There is high pressure to reduce health care spending while increasing quality of care. Inequities have a profound effect on both health outcomes and healthcare costs, impacting everyone. Improving health for one population benefits the health of all populations.
“Racial and ethnic inequities in health care are found in every state in the U.S. despite the passage of legislation intended to improve health outcomes for minorities and increased awareness of health care disparities over the past two decades”, according to a new national report released earlier this month.
Communities, company executives and board members, regulators, investors, employees, and the general public play a crucial role in pushing the industry to address health equity, with collaboration and community engagement being key.
“States that can successfully factor social needs into their health care payment policies may see health and well-being improvements among citizens while helping reduce health care utilization and spending.”
Incorporating SDOH into risk adjustment models can enable states to more appropriately compensate health plans.
Addressing health inequities can help business leaders, boards of directors, and companies improve health outcomes and reduce healthcare costs. This, in turn, will enhance the overall health and well-being of all individuals.
This is where health information (HI) professionals play a key role, collecting data and developing action plans to address the social determinants of health as the root causes of health inequity. We simply cannot afford to ignore the importance of SDOH and root causes of health inequities.
We at Primeau Consulting Group are here to help your organization implement technologies and practices to improve patient care and reduce costs. Contact us today.
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