The health and wellness of individuals and communities can benefit significantly from utilizing socioeconomic information. Through this recently announced partnership, healthcare stakeholders can gain an accurate view of different populations to better understand social determinants of health (SDOH) issues and inequities. They can then take a proactive approach to better manage risk and build more targeted interventions to improve health outcomes.
Jim Bohnsack, Senior Vice President and Chief Strategy Officer at TransUnion Healthcare, and Trenor Williams, MD, CEO and Co-founder at Socially Determined, talk about how this partnership will help improve healthcare.
Q: How will this partnership benefit healthcare organizations and consumers?
Jim Bohnsack: The collective power of our comprehensive, accurate datasets and Socially Determined’s robust data and analytics platform will help the industry further visualize and prioritize the need to address SDOH concerns. The insights derived from our collaboration will help payers, providers, life sciences companies and other industry partners develop more innovative programs and interventions to improve the well-being of consumers and populations. This in turn will help keep people and communities healthier — a win-win for everyone.
Q: Why is making sense of the data integral to driving change?
Trenor Williams: There’s a strong need to make sense of socioeconomic data — for altruistic and economic reasons — and many organizations aren’t well-positioned to put scalable social risk strategies in place. Our SocialScape® platform distills complicated information from various data sources, revealing patterns to help reduce costs and utilization, enhance prevention and treatment offerings, and deliver better health outcomes. The added benefit of being backed by TransUnion Healthcare’s extensive SDOH data — when combined with a member roster and clinical and/or claims data — will further strengthen our overall market impact.
Q: What specific impacts have you seen from utilizing this socioeconomic information?
TW: We’ve been able to leverage socioeconomic data to pinpoint a variety of social risk factors, including food insecurity, housing instability, COVID-19 and financial vulnerability, and more. In one specific case, we partnered with a city government, health plan and non-profit to measure the impact of a produce prescription program. As part of this, we were able to identify individuals with a clinical risk (diabetes, pre-diabetes or hypertension) and food insecurity, and gave them a prescription for fruits and vegetables. With the ability to track the program over time and report out customized metrics to each stakeholder group, we could monitor the difference this program had on the community. Using this type of information gives organizations the ability to come together in a very determined way to better understand their population, enact local change and measure the impact.
Q: What does the future hold?
TW: The pandemic has certainly highlighted how socioeconomic challenges can influence individuals and communities, and how the need for tried-and-true strategies to address social risk factors has and will continue to grow. We see a lot of potential in working together to provide actionable insights to our clients so they can apply various treatment strategies to better the industry and the future of healthcare.
JB: It’s a milestone to be in the position to scale this essential offering of social risk intelligence — especially amid the financial and economic uncertainty of COVID-19 — to reach more consumers, populations and healthcare organizations to enact change. This partnership allows us to live out our purpose, utilizing Information for Good®. The more we’re able to help effectively stratify risk, the more we can influence well-being.
For more information on this partnership and its impact to the industry, view our press release.