The Deloitte Health Equity Outlook for 2024 underscores the industry’s continued focus on health equity, revealing challenges and priorities. With 80% of C-suite leaders prioritizing it, the pursuit of equitable healthcare faces hurdles like AI integration and workforce issues. Solutions involve measurable goals, community partnerships, and cross-ecosystem collaborations. Addressing biases in AI, enhancing workforce diversity, and bolstering research strategies are pivotal. Despite challenges, optimism persists for healthcare and life sciences organizations as they navigate the complexities of achieving health equity.
In 2024, health equity will retain its significance in healthcare and life sciences. Deloitte’s report highlights its prominence, driven by 80% of executives prioritizing equitable healthcare access. However, challenges loom, including AI’s impact and workforce concerns. Measurable goals, community engagement, and interdisciplinary collaborations are proposed solutions. Amidst AI biases, workforce diversity, and research strategies, the pursuit of health equity persists.
Health Equity: A 2024 Industry Priority
The Deloitte Health Equity Outlook, drawing insights from industry executives and leaders in medical and life sciences fields, reveals that 80 percent of C-suite leaders consider health equity among their top 10 goals. This underscores the acknowledged value of ensuring universal access to high-quality healthcare, although reaping returns on investment necessitates deliberate strategies and time, as highlighted by Jay Bhatt, DO, and Maningbè B. Keita Fakeye, Ph.D., in their authored report.
Anticipating a rise in health equity investments by nearly half of healthcare and life sciences leaders, Deloitte asserts that judicious implementation of these investments could yield short-term gains in staff recruitment and retention while streamlining organizational products and services for long-term benefits.
Regulatory imperatives also contribute to the continued prioritization of health equity, with over half of surveyed leaders attributing their plans in 2024 to regulatory requirements from state Medicaid programs or private payers. Moreover, an emphasis on patient engagement outcomes by regulations drives further impetus toward health equity initiatives.
Despite this momentum, organizations face obstacles such as limited resources, conflicting priorities, and financial pressures, impeding their pursuit of health equity goals. The report underscores the importance of setting measurable goals, with over half of respondents highlighting the necessity for well-defined metrics to evaluate progress.
However, amidst these pursuits, challenges emerge. The increasing integration of artificial intelligence (AI) in healthcare poses risks to health equity due to potential biases in algorithms. Currently, a significant proportion of health equity leaders remain detached from their organization’s AI strategies, although this trend may shift as companies strive to harmonize AI and health equity objectives.
The report advocates for community engagement and collaboration, noting that 60 percent of health equity leaders prioritize community partnerships in 2024. Collaborations with community health centers offer avenues to connect with demographics often overlooked in clinical trials, fostering patient trust and enhancing inclusivity.
Yet, the workforce poses another hurdle, with 40 percent of respondents identifying recruitment, retention, and burnout as major challenges. To address this, Deloitte recommends expanding recruitment efforts to encompass the served communities, thereby fostering trust and enriching workforce diversity.
In tandem with community collaboration, organizations are directing their focus toward cross-ecosystem partnerships in the coming year. Emphasizing the efficacy of public-private partnerships, Deloitte underscores the need for interdisciplinary collaborations to tackle multifaceted issues like health inequity, facilitating innovative engagements that drive value and growth.
Furthermore, research strategies take center stage, with 55 percent of leaders marking it as a top priority for the year ahead. Improved data quality, community engagement, and multisectoral collaborations stand as imperative facets. Challenges persist in data infrastructure, standardization, interoperability, and sharing, essential for propelling health equity efforts forward.
Overall, Despite challenges, healthcare and life sciences remain committed to advancing health equity. Deloitte’s report emphasizes strategies amidst obstacles, highlighting the importance of measurable goals, community collaborations, and cross-ecosystem partnerships. Addressing AI biases, workforce diversity, and enhancing research strategies are pivotal. The industry’s optimism prevails as it navigates through complexities, fostering hope for progress in achieving health equity in the coming year.
