Convergence of Public Health, Health Disparities and the Economic Impact of Poor Health
Opportunities for Multi-sector Collaboratives
Multi-sector partnerships of business, civic, faith-based, healthcare, public health, and community leaders increasingly recognize poor health as a fundamental challenge to health and economic well-being in their communities. The COVID-19 pandemic has heightened these concerns. Good health is essential to a community’s economic vitality and quality of life – and health and productivity drive future economic growth and competitiveness.
Chronic conditions such as diabetes, hypertension, and obesity contribute to increased utilization and medical costs and substantial productivity costs for businesses and a community. The economic and opportunity costs of poor health are high, yet community leaders face many unknowns about the key drivers of poor health and their actual economic and health impact. Without actionable and locally relevant data and expert guidance, leaders may find it difficult to prioritize and decide how best to make changes for meaningful and sustained improvement for health and economic well-being in their community.
The COVID-19 pandemic also reveals the complex inter-relationships between health (e.g., hypertension), social factors (race, ethnicity, income, education) and their impacts on health and economic vitality of a region – and imperatives for broader and coordinated approach across sectors to address them. Trusted collaborative partners are reaching into their communities with coordinated actions to address the needs and improve outcomes for all and especially at-risk populations and to address health equity issues. To learn more community collaborative responses to COVID-19, see “A Conversation About Employer Covid19 Issues and Emerging Opportunities” (Winston-Salem, NC) and "Health Collaboration to Address Health Disparities During the COVID-19 Pandemic” (Buffalo, NY) webinar replays.
FTI Consulting’s Center for Healthcare Economics and Policy (Center) works with leaders and uses unique proprietary models and extensive data to quantify prevalence of chronic conditions, medical and productivity costs, and metrics customized for each community. Our experts use data-driven research and national experience on public-private partnerships to provide understanding and opportunities for clients seeking answers. The Center’s projects include work with collaboratives such as a Nashville Area Chamber of Commerce-led stakeholder group and a Population Health Collaborative-led initiative in Western New York. We work with stakeholders to develop research and solutions customized to their issues and priorities to address fundamental questions: What is the impact of health on your community’s people, economy and competitiveness? What are effects on seniors and vulnerable populations? What are sources and effects of health disparities? How do you compare with peers? What is the impact of COVID? What’s working elsewhere and why?
To learn more about FTI Consulting’s advanced data and data analytics and work with individual clients and collaboratives, economic impact of health, and consulting services, please contact Meg Guerin-Calvert at firstname.lastname@example.org.
July 24, 2020
Senior Managing Director, President, Center for Healthcare Economics and Policy
Healthcare & Life Sciences