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.
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 17–19 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.
