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.