Health inequities cost the U.S. economy $451 billion in 2018, up 41% from the prior estimate in 2014, according to research done under the umbrella of the National Institutes of Health. If left unaddressed, the cost of health inequities will hit $1 trillion by 2040, according to a Deloitte report.
The Centers for Medicare & Medicaid Services reported that U.S. healthcare spending alone hit $4.5 trillion in 2022 or 17.3% of GDP.
Since the majority of Americans receive health insurance through their employer, rising healthcare costs remain a pressing issue for businesses. U.S. employers are predicting a third straight year of higher benefits costs, according to a recent survey by Mercer. Even after cost-cutting measures, they expect to spend about 5.8 percent more in 2025.
Despite the high costs, the U.S. ranks significantly lower in key health metrics, including life expectancy and infant and maternal mortality, especially in underserved communities.
By addressing systemic barriers and unconscious bias and championing preventative care initiatives businesses can directly impact the well-being of their workforce and the broader community.
At KC Health Collaborative, our goal is to better enable local businesses to focus on the overall well-being of their employees and lower soaring health costs for patients and businesses, alike.
We’re doing this by:
Making data and health outcomes more transparent with the 2024 Kansas City Health Scorecard and future data-driven reports.
Partnering with Health Forward Foundation to further KC Health Equity Learning and Action (LAN) Action teams, which educates businesses and employees on the impact racism and systematic barriers have on good health.
Sharing our message with the community more prominently.
Connecting resources to help support closed-loop referral systems, which are designed to provide whole-person care to those most in need.
Healthier people lead to stronger communities, increased productivity, and greater economic vitality.
Together with the business community, we have the power to create a healthier and more equitable Kansas City.
Partner with us to be a part of the solution.
Let’s make a difference. Let’s get to work.