How identifying and addressing SDoH can reduce rising healthcare costs and improve quality of care
Over the last 50 years, health expenditure growth has more than doubled and continues to rise rapidly, while rates of chronic diseases also continue to increase. According to the U.S. Centers for Medicare and Medicaid Services, health spending is projected to rise by 5.5% this year and will continue to rise over the next decade. The rise marks a sharp increase from last year’s spending, which is estimated to have been around 4.6%, almost $3.5 trillion. The increase in healthcare expenditures can be attributed to several factors including rising costs associated with medical goods and services, shifts in income growth, Medicaid and Medicare.