Taking Social Determinants of Health (SDoH) From Data to Analysis and Action

The following is a guest article by Diana Zuskov, MPH, Associate Vice President of Healthcare Strategy at LexisNexis® Risk Solutions.  SDoH Success Stories to Inspire Adoption and Action in Your Organization Healthcare organizations are spending significant resources – time, money, and human capital – to address social determinants of health (SDoH) and health equity. Effective execution requires going upstream of the programming itself to understand the social determinants of a population. According to Data Bridge Market Research, the U.S. SDoH market is growing with a compound annual growth rate (CAGR) of 22.9% between 2023 to 2030 and is expected to reach over $43 million by 2030 from more than $8 million in 2022.   And it’s been found that private insurance companies spend $1.87B on SDoH data, with the top six insurers accounting for 72% of that SDoH spend. And while the data is a few years old, a study found that 57 health systems invested at least $2.5B in SDoH over a two-year period. There’s a strong emphasis and substantial funds are being spent in this area of healthcare – and it’s not slowing down. As healthcare organizations continue to invest in SDoH, moving from analysis to impact requires operationalizing this data for coordinated efforts and long-term returns on investment. When considering SDoH, think about the following: For SDoH to be actionable, you need individual-level data to inform a patient’s journey and care coordination. Knowing som...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Analytics/Big Data C-Suite Leadership Health IT Company Healthcare IT Hospital - Health System Interoperability Clinical Data Data Action Data Analysis Diana Zuskov EHR Electronic Health Records Health Gorilla Health Gorilla’s Source Type: blogs