Market News
Global Social Determinants of Health (SDOH) Market- Recent Developments
Service Launch and Partnership
- In October 2020, GoHealth a health insurance company entered into a strategic partnership with Aunt Bertha a Software company to address social determinants of health (SDOH). SDOH are social and environmental factors that can prevent members from living full, healthy lives. This partnership meets the holistic needs of its members, especially the dual eligible population who qualify for Medicare and Medicaid, by connecting them with food pantries and other local organizations.
- In March 2020, Humana a health insurance company launched a value-based care payment initiative designed to support clinicians in addressing non-medical health risk factors affecting Humana members. The Social Determinants of Health Value-Based Program aims to improve health outcomes by encouraging a more holistic approach to patient care that goes beyond traditional clinical treatment.
Increasing Funding
- On August 1, 2023, UnitedHealthcare a healthcare company grant US$ 11.1 million funding which falls under UnitedHealthcare's Empowering Health program, aims to help improve the healthcare options of individuals living in underserved communities by addressing the social determinants of health
- On March 15, 2023, Bristol Myers Squibb a pharmaceutical company granted US$ 10 million funding in 2023 to 17 U.S. organizations focused on addressing social determinants of health. This funding used by organizations focused on addressing social determinants of health including healthcare access and literacy to help close gaps and increase access to healthcare.
- In June 2022, Socially Determined a healthcare company closed US$ 26 Million Series B Financing to Set the Standard for propelling successful health equity and SDOH Initiatives. The investment was led by Questa Capital a investment firm with participation from existing investors, LRVHealth, OSF Healthcare, Ziegler Link-Age Funds, and HealthWorx
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