Inequities across the U.S. health care system limit underserved people's access to affordable, high-quality care, create avoidable costs and financial waste that span society, and impact every individual's potential to achieve optimal health and well-being. Deloitte estimates that such inequities in the U.S. health care system cost approximately $320 billion today and could eclipse $1 trillion in annual spending by 2040 if left unaddressed.
Investigate Deloitte's methodology to quantify the cost of health inequities attributable to racial bias, gender/sex bias and socioeconomic bias. We will illustrate the methodology by calculating total potential cost savings across different disease states and discuss both the role that actuaries play in addressing health inequity and the steps that organizations can take to activate health equity.