Amidst financial headwinds and increased scrutiny of health system operating budgets, health equity leaders are challenged to secure resourcing to support the organizational transformation effort required to achieve health equity goals. While there is a renewed focus on social responsibility, health equity leaders must clearly articulate the financial and non-financial value of health equity to secure adequate resources. The Health Equity Total Value framework supports health systems in assessing the holistic value of health equity investments, incorporating value delivered to internal and external stakeholders beyond the health system itself.
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Let's ConnectTable of Contents
1. Bridging the Gap: Health Equity as a Moral and Business Imperative
The COVID-19 pandemic illuminated a moral imperative for health systems to prioritize health equity investments. While the renewed focus on equity has revealed new paths to generating value, health equity leaders are challenged with articulating the business imperative of health equity to secure adequate resources.
2. Introducing the Health Equity Total Value Framework
To help health systems shift towards a more holistic assessment of health equity value, HEA adapted an expanded ROI framework to the health system context. The framework consists of direct benefits, indirect benefits, and strategic benefits that influence financial (or “hard”) ROI. It also includes internal and external influencers that can shape total value over time.
3. Deep Dive: How Direct Benefits Support Financial ROI
Direct benefits consist of four inputs: loss avoidance, quality gains, clinical revenue gains, and improved operational efficiencies. We articulate example metrics and value indicators that demonstrate the financial impact of health equity investments on healthcare revenue and expenditures.
4. Deep Dive: Indirect Benefits as Proxy Indicators for Stakeholder Value
Indirect benefits are a proxy for health systems’ value to internal and external stakeholders. It consists of four inputs: brand reputation (internal), brand reputation (external), partnership opportunities, community benefit. These perceptions of value ultimately influence decision-making related to engaging with your health system and have an indirect impact on financial ROI.
5. Deep Dive: Strategic Benefits Prime Health Systems for Future ROI Capture
Strategic benefits capture whether a health system is positioned for long-term success given broader market and demographic trends. It consists of 3 inputs: shift to value-based care, market capture and growth, and retaining long-term patient loyalty.