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Population health management and value-based reimbursement success hinge on reducing healthcare costs not only when a patient is in the exam room, but also when they are beyond the walls of the practice or hospital. Therefore, understanding where a patient lives, their income, education level, job status, and other social determinants of health (SDOH) is critical as providers aim to reduce healthcare costs and unnecessary utilization.
Socioeconomic factors are responsible for approximately 40 percent of a patient’s health, while just 20 percent was tied to care access and quality of care, the American Hospital Association (AHA) recently reported.
Despite the impact SDOH have on a patient’s outcomes and costs, many providers are not equipped to address housing, economic stability, education, food security, and other social determinants.