Investing in Social Health Drivers Can Transform Care Costs
Investing in Social Health Drivers Yields Remarkable Savings
Recent findings have brought to light the substantial financial benefits linked to addressing social determinants of health (SDoH). Specifically, for every dollar spent on interventions that tackle these social drivers, an impressive thirteen dollars can be saved. This revelation, stemming from extensive research, illustrates a shift towards a more holistic approach to healthcare, underscoring the vital role of social factors in achieving better health outcomes.
The Power of a Holistic Care Approach
A key player in this movement is AbsoluteCare, a leader in integrated, value-based health care. Their latest white paper, "Beyond Medicine: The Cost-saving Power of Addressing Social Drivers of Health," highlights the importance of recognizing and acting upon the myriad social factors influencing patient health. The analysis demonstrates that with targeted investments in SDoH, there is a significant reduction in unnecessary hospital admissions and emergency room visits, ultimately leading to cost savings.
Strategic Pathways to Whole-Person Care
Faith Tarver, Vice President of Behavioral Health at AbsoluteCare, articulates the organization’s comprehensive approach. Their four-step pathway involves identifying social health challenges, mobilizing necessary resources, ensuring members access these resources, and empowering individuals to create their health journeys. This strategy emphasizes the uniqueness of each patient's circumstances and sustains their progress towards improved health and independence.
Tackling Immediate Social Needs Effectively
One of the standout initiatives from AbsoluteCare is the Member Fund. This self-funded account is designed to assist members when community resources are not readily accessible. From 2022 to 2024, this fund facilitated over 2,700 instances of direct support for urgent needs, such as medical equipment, transportation, and housing assistance. Even the smallest contributions, such as offering cell phone minutes or transportation rides, have proven invaluable in reconnecting members with their care teams and maintaining essential appointments.
Quantifiable Impact of Community Support
The outcomes of these initiatives are noteworthy. AbsoluteCare's investment strategy resulted in a 16% reduction in overall healthcare costs due to decreased reliance on emergency services. The organization’s CEO, Mike Radu, emphasizes that addressing SDoH not only fulfills a moral obligation but is also a sound financial strategy. By prioritizing holistic care, AbsoluteCare effectively alleviates the burden on emergency departments, allowing for more sustainable health solutions.
Championing Health Equity Across Communities
AbsoluteCare stands at the forefront of promoting health equity, committed to empowering individuals to achieve their healthiest lives, irrespective of their socio-economic backgrounds. Each initiative undertaken is a step towards bridging gaps in healthcare access, and the organization remains dedicated to innovative solutions that cater to the specific needs of high-risk populations. Through continuous investment and focus on social determinants of health, AbsoluteCare is reshaping the landscape of healthcare delivery and cost management.
About AbsoluteCare
AbsoluteCare is an innovative healthcare provider focused on integrated, value-based care. Catering to high-risk populations, AbsoluteCare operates in multiple locations, offering personalized solutions that reduce unnecessary healthcare costs while enhancing quality of care. Their initiatives ensure that members receive the support they need, fostering health and equity within communities. For more information, visit their official website.
Frequently Asked Questions
What are social determinants of health (SDoH)?
Social determinants of health refer to the non-medical factors that influence health outcomes, including economic stability, education, and access to healthcare.
How does AbsoluteCare address SDoH?
AbsoluteCare implements a four-step pathway focusing on identifying social health challenges, accessing resources, and empowering members to manage their health journeys.
What impact does the Member Fund have?
The Member Fund provides direct assistance for urgent needs, facilitating essential resources when community support is not available, thereby improving health outcomes.
Why is health equity important?
Health equity ensures that every individual has the support and resources needed to achieve optimal health, irrespective of their socio-economic status or background.
What financial benefits come from investing in SDoH?
Investing in social determinants of health can save significantly on healthcare costs by reducing the need for emergency care and hospital admissions, leading to a healthier population overall.
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