Health equity teams must understand what matters to their finance leaders to create a value proposition for health equity investments that resonates from the finance perspective. Translating the value of health equity into the language of business and finance requires intentional relationship-building and engagement with finance. This module outlines a roadmap with key actions that health equity teams can take to build effective finance/health equity partnerships.
Download the pdf to access the full module.
Not yet a member of the Health Equity Alliance and want access?
Let's ConnectTable of Contents
1. Finance as a Key Competency for Effective Health Equity Leaders
In today’s healthcare environment, it is critical for health equity teams to have professional finance competency to navigate the financial realities that shape decision-making in health systems. This section details how healthcare finance basics enable health equity teams to build reciprocal partnerships with finance leaders and the evolution of the finance function and finance leader persona over time.
2. Step-by-Step Roadmap for Effective Finance/Health Equity Partnerships
As health systems transition to value-based care (VBC), the increasing complexity of assessing ROI under a hybrid fee-for-service and VBC environment requires a deeper understanding of health system capacity/performance constraints that necessitates building partnerships with finance. This section outlines key checkpoints and questions to ask when partnering with finance, as well as a framework to support building a near-term ROI narrative from the finance perspective.
3. Use Case Example: CHW Intervention to Reduce Pre-Term Birth Rates
Health equity teams can use pro forma tools to demonstrate the near-term ROI for a proposed investment. This section breaks down the basic components of a pro forma and applies the near-term ROI narrative framework to an example community health worker intervention with the goal of decreasing rates of pre-term birth among a fictitious health system’s population. This case study example is accompanied by an adjustable pro forma tool that generates a consolidated profit & loss statement based on key intervention parameters.
4. Action Planning: What's Next for HEA Members?
This section outlines 4 key activities that HEA members can participate in to maximize the value of this resource and the pro forma tool for health system health equity teams. HEA members can choose one of the 4 activities to complete and share back with the HEA team at healthequityalliance@hmacademy.com.