This also means eliminating waste in health care. Once systems establish metrics aligned with visibility of health equity performance, scorecards and dashboards could be assessed, outlier performance could be identified, and systems could then work to close gaps. Proactive risk scores can be used to identify how to connect patients with resources that can prevent unnecessary returns to the hospital and the doctor’s office.
Adding long-term value by eliminating disparities
Advances in health equity drive long-term value for health care businesses. Organizations often have struggled to understand the return on investment in social initiatives, but the business case for committing to health equity is compelling. The elimination of health disparities adds value for consumers, employees and society, and this value can be tracked and measured.
In the consumer realm, for example, an organization focusing on equitable health outcomes can compile data that allows it to measure access to care. This type of focus, held to account against a meaningful metric, can help the enterprise broaden its demographic and enhance customer affinity for the brand. In so doing, the enterprise can seize an opportunity to increase market share and revenues.
In terms of employee value, a focus on diversity, equity and inclusion can be measured using employee engagement scores and ultimately help the business achieve increased workforce health and resiliency through deliberate promotion and reward of healthy life choices. This further results in less absenteeism and a more vibrant, diverse workforce. In broader society, health businesses that focus on health literacy can use and track progress through community partnerships to reduce disparities.
Infrastructure improvements that are executed in the name of achieving health equity also factor into the long-term-value equation. Progress toward a business focus on enhanced technology can be measured by capital allocation, which in turn can drive more efficient capital spending. Taken together, these elements can boost enterprises’ revenues and reduce overhead.