The economic burden of racial and ethnic disparities in healthcare access and quality is costing Massachusetts $23.5 billion every year across all major groups, according to a June study from the Blue Cross Blue Shield of Massachusetts Foundation and the Health Equity Compact.
Six key takeaways:
1. The total economic burden of health inequities across all major racial and ethnic groups in Massachusetts is $23.5 billion each year.
2. The economic burden due to health inequities experienced by Black, Hispanic/Latino, and Asian populations in Massachusetts is $5.9 billion each year.
3. There is $1.5 billion in avoidable healthcare spending every year, which is about 2.2 percent of all medical spend in the state.
4. There is $1.4 billion in lost labor activity every year due to poor health rates, which is equal to losing 27,000 full time employees annually.
5. Premature deaths account for $3 billion in spending every year.
6. The economic burden of health inequities experienced by Black, Hispanic/Latino, and Asian individuals is projected to grow to $11.2 billion by 2050.