Health equity occurs when all individuals have the opportunity to attain their highest level of health,
including the tools necessary to manage their health. To achieve this, barriers to social and economic
resources need to be greatly reduced or eliminated. This way there aren’t obstacles that limit access to
care, or quality care or keep individuals from effectively managing their health. Barriers can include
education disparities, socioeconomic status, discrimination, lack of housing and food, or a safe
environment.
Health disparities arise from a complex interplay of factors, including genetics, health behaviors, social
determinants of health (such as income, education, and living conditions), and access to healthcare
services. Efforts to address these disparities are particularly crucial as the population becomes more
diverse, income inequality grows, and marginalized and underserved groups face unique challenges in
healthcare access and utilization. Despite policy interventions like the Patient Protection and Affordable
Care Act (ACA) and increased insurance coverage, disparities persist, and some have even widened over
time. Groups such as people of color, immigrants, rural populations, and those with low incomes still
encounter barriers to coverage, difficulties in navigating the healthcare system, and disparities in
healthcare experiences.
Whats being done to address this on a large scale? Greater efforts are underway to have clinical trials
and the associated findings represent a patient pool that reflects a variety of individuals. Limited
diversity in clinical research has been known for years. However, the medications approved, and
subsequently prescribed, from these studies are given to a diverse population. At a minimum, clinical
trial data should reflect the overall population to allow for better outcomes.
In 2022, Mark Cuban launched Cost Plus Drugs with a goal of lowering the cost of generic drugs. Other
companies have followed in the pursuit of affordable medication as no one should be in the position of
eating less to purchase a medication. New models are coming out to provide consumers with more
accessible, affordable healthcare solutions and pharmacy benefit options as we saw recently at CES
2024.
At both the federal and state level, there has been greater funding around social determinants of health.
The result has been expanded initiatives for nonprofits to pursue, and new startups have launched with
missions to support underserved communities. Some programs or startups have built affordable
housing, and promoted the greater use of Telehealth (plus affordable connectivity) for those who are in rural
areas or have difficulty getting to healthcare services. This has helped to address food insecurity and
nutrition now and, in the future, job security, physical activity opportunities, financial stability, and mental well-being.
The rise in HealthTech with patients being viewed as consumers or partners has led to
the launch of tech platforms that simplify the healthcare journey with easier access to services and
resources to increase health literacy rates while better positioning patients to advocate for themselves.
We still have a long way to go, but it’s encouraging to see the progress made in just the past 2 years
alone. Some individuals have spent many years trying to change the healthcare system which
has gotten increasingly complex despite advancing technologies. These individuals have left bigger-sized
institutions and companies to launch startups or nonprofits that are heavily focused on outcomes that
will lead to greater health equity in the years to come. Now thats something to celebrate!
Here are 3 ways that you, as a business owner, can contribute to the greater health equity within your
business and community. Offer fair wages, an inclusive workplace, and sponsor and/or invest in
community development health initiatives. Businesses can be a catalyst for change by empowering
individuals to live healthier lives whether it be through the employee benefits they provide or
collaborating with the government, other businesses, or community-based organizations.
Technology can be leveraged by businesses to bridge the gap in healthcare access for their employees or ensure its availability to underserved populations. Businesses can invest in health education programs or tools that help individuals along their healthcare journey resulting in greater health literacy and enhanced health
outcomes. Ultimately, businesses can incorporate health equity goals into their CSR (corporate social
responsibility) strategies. In doing so they can contribute towards creating a fair and inclusive society,
one where everyone could experience optimal health.
Author Kristin Gross, Founder of Navdee (99+) Kristin G | LinkedIn