Public-Private Partnerships: Business Engagement for Health and Economic Well-being
Public-private partnerships serve as community-led collaboratives to address fundamental challenges to health and economic well-being. Business, civic, faith-based, healthcare and community group leaders recognize health as essential to a community’s economic vitality and quality of life - and that health and productivity drive its future economic growth and competitiveness.
Chronic conditions such as diabetes, hypertension, and obesity contribute to increased utilization and medical costs as well as substantial productivity costs for businesses and a community. The economic and opportunity costs of poor health are high. Community leaders face many unknowns about key drivers of poor health and their actual economic and health impact. Without actionable and locally relevant data and expert guidance, leaders find it difficult to prioritize and decide how best to make changes for meaningful and sustained improvement for health and economic well-being in their community.
FTI Consulting’s Center for Healthcare Economics and Policy (the Center) uses unique proprietary models and extensive data to quantify prevalence of chronic conditions, medical and productivity costs, and key metrics customized for each community. Our experts use data-driven research and experience on public-private partnerships to provide understanding and opportunities for clients seeking answers. The Center’s projects include work with collaboratives such as a Nashville Area Chamber of Commerce-led stakeholder group and a Population Health Collaborative-led initiative in Western New York. We work with stakeholders to develop research and solutions customized to their issues and priorities to address fundamental questions: What is the impact of health on your community’s people, economy and competitiveness? What are effects on seniors and vulnerable populations? What are sources and effects of health disparities? How do you compare with peers? What’s working elsewhere and why?
The ongoing coronavirus pandemic reveals even more sharply the impact of underlying chronic conditions on individual and community health, health equity, quality of life and economic vitality - and the need for sustained cross-sector community partnerships to address these critical issues now and going forward. To learn more about activities of public-private partnership responses to COVID-19, see “A Conversation About Employer Covid19 Issues and Emerging Opportunities” webinar replay.
To learn more about FTI Consulting’s work with collaboratives and public-private partnerships, economic impact of chronic conditions, and consulting services, please contact Meg Guerin-Calvert at email@example.com.
Senior Managing Director, President, Center for Healthcare Economics and Policy