Kearney Releases Health Equity Report: Real-World Solutions in an Unfair System
Health Equity Can Be a Core Business Driver
- In the U.S., people in the least affluent zip codes can expect a life 20 years shorter than their neighbors in the most affluent zip codes.
- Health gaps are projected to widen if they aren’t addressed.
- Inequity carries a significant cost to the U.S. economy: Up to $1 trillion by 2040.
CHICAGO, Oct. 31, 2024 /PRNewswire/ — Global strategy and management consultancy Kearney today released its first report on the state of health equity in the U.S. The report, “Building better societies: a road map to improving health inequity,” provides context for how healthcare disparities have evolved, acknowledges the roadblocks to solving health inequity, and outlines the steps organizations across the healthcare industry are taking to right the ship and deliver a healthier future for all.
The report acknowledges recent shifts in regulatory and legislative frameworks that have spurred more equitable practices in healthcare, then calls on businesses to carry that torch.
“It’s time to turn the tide in health equity, and the private sector can lead the way,” noted report co-author and Kearney partner Dominique Harris. “Through our work with organizations across the health ecosystem, we have seen the need to make health equity more of the core business to drive better business outcomes. It’s not only a moral imperative; it’s sound business strategy.”
The report acknowledges the challenges that healthcare companies face when it comes to health equity: balancing rising cost pressures with providing equitable access to care; addressing physician burnout; collecting quality social determinants of health data; and increasing diversity in clinical trials.
The authors present the findings of their market scan and highlight three operational solutions that are already gaining traction:
- Accountable care organizations (ACOs) are groups of doctors, hospitals, and other healthcare providers who provide patients with high-quality, coordinated service. ACOs are leading the way in the value-based care movement, which emphasizes care coordination and the prevention of diseases and complications. National health system Advocate Aurora Health Care reports significant savings (over $600 million) and improved health outcomes (reduced hospital readmission, enhanced patient satisfaction, and better patient management of chronic diseases) due to its integrated care model.
- By better understanding social determinants of health (SDOH) data such as race, education, income, housing, and food access, healthcare providers and organizations can better understand the full range of factors affecting a person’s health and offer more comprehensive, effective care that addresses gaps in healthcare access and quality. Starting in January 2024, the Centers for Medicare & Medicaid Services mandated that every inpatient screening include selected SDOH. Forward-thinking healthcare organizations are leveraging data to tailor care to underserved populations. Prescription drug benefit provider OptumRx assesses SDOH data to get an accurate snapshot of individual and community health and to identify care, programs, and solutions that health plans should offer.
- Women’s health challenges have been historically underfunded and under-researched, leading to a lack of solutions. Women face unique health challenges throughout their lives, requiring tailored health strategies and awareness to create equity in health outcomes. “How we think about women’s health is changing—expanding beyond reproductive care to a woman’s whole life cycle,” says Kearney partner Paula Bellostas. Merck’s $650 million initiative, Merck for Mothers, has helped improve maternal outcomes in vulnerable U.S. populations and provides insights for future innovations in women’s health.
The Health Equity Report encourages companies to invest in equity-focused health initiatives in order to reduce long-term costs, improve overall public health, and enhance productivity and economic stability. Kearney’s unique approach to operationalizing health equity starts with changing the mindset about equity: health equity is not a philanthropic effort; it’s core to the business. It shouldn’t be limited to initiative-level gains; it should create holistic portfolio improvements. And it’s not about immediate returns; it’s a long-term push to lower costs.
“We wrote this report to provide inspiration for leaders who are ready to tackle the thorny issue of health inequity. So many people suffer in an unfair system, and we’re inspired to create real solutions,” said report co-author and Kearney partner Todd Huseby.
Read the full report by clicking this link.
For more information, to schedule an interview with a Kearney health equity expert, or to receive a copy of the study, please contact:
MKPR/Meir Kahtan
+1 917-864-0800
mkahtan@rcn.com
Health Equity Report Methodology
The report pulls from new 2024 research across the healthcare landscape, plus interviews with 70+ leading payor, provider, biopharma, and academic institutions about their health equity challenges and solutions. Additionally, the research team conducted an in-depth analysis of peer-reviewed publications to substantiate the suggested solutions with quantitative and qualitative evidence.
About Kearney
Kearney is a leading global management consulting firm. For nearly 100 years, we have been a trusted advisor to C-suites, government bodies, and nonprofit organizations. Our people make us who we are. Driven to be the difference between a big idea and making it happen, we work alongside our clients to regenerate their businesses to create a future that works for everyone. www.kearney.com
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