Living Well, Good for Business

Health Outcomes and Economic Vitality

Late September, that time of year when the edges of the leaves begin to show some weather and the air grows crisp. Arkansas shows out in fall and the outdoors beckon.  It’s days like these that remind me of one late September day in 2019 when a MTB outing did not go exactly as scheduled.  Long story short, I failed to stick the landing.  The landing, in fact, stuck with me for a few months. 

Good news, the people and places of this region rose to the occasion.  We had more calls, concerns, and casseroles than the situation warranted.  I was well cared for, by healthcare professionals and by our community.

Of course, healthcare is not only about fixing what you break. Investing in a healthier population is good for business. The state of Arkansas consistently ranks in the bottom of most national health outcomes. The health of our citizens directly correlates with the economic prosperity and social stability of our communities.

Remember a few months ago when we talked about the relationship of civic engagement to economic and health outcomes? Review here. The relationship between health outcomes and economic vitality is not dissimilar.

Productivity and Workforce Participation

A healthier workforce means more residents can participate fully in the labor market. Chronic diseases, such as diabetes and heart disease, are significant contributors to absenteeism. Reducing the prevalence of these conditions results in greater workforce productivity​. The Arkansas Center for Health Improvement highlights that chronic diseases are a major factor in workforce absenteeism and presenteeism. The population of Northwest Arkansas is projected to eclipse 1 million residents by 2050, and a healthy and productive workforce is critical.

Economic Relief

Lower healthcare costs are an economic benefit to both individuals and businesses. According to the Arkansas Department of Health, the state spends billions annually on healthcare costs associated with chronic diseases. Businesses face lower insurance premiums and reduced health-related expenses, allowing them to invest more in growth, innovation, and job creation. The University of Arkansas found that every dollar saved on healthcare results in an additional $1.50 spent in the local economy . 

Economic Growth

Better health outcomes lead to increased disposable incomes, which fuels economic growth. When people spend less on healthcare, they have more to spend in local businesses, housing, education, and leisure activities. This stimulates the local economy, creating a ripple effect of economic activity and growth.

Human Capital

Healthier children are more likely to succeed in school, setting the stage for a brighter future. The Arkansas Department of Education notes that students with better health outcomes have higher attendance rates and better academic performance . Improved health leads to better educational outcomes, which in turn enhances job prospects and earning potential.

Get Active

Advocate for Better Public Policy:

• Policies that invest in training healthcare professionals to ensure that there are enough providers, particularly in underserved areas.

• Policies that promote early detection, mental health services, wellness programs, and preventive healthcare, reducing the burden of chronic diseases on the healthcare system and employers.

Collaborate with Healthcare Providers:

• Partner with healthcare providers to offer workplace-based health services, such as vaccination clinics, routine check-ups, and screenings.

• Incorporate mental health services into employee health benefits or partner with mental health providers.

Philanthropy and Corporate Giving:

• Direct philanthropic resources toward healthcare initiatives, including funding local clinics, mental health resources, or disease prevention programs.

• Support non-profit organizations working on public health issues like substance abuse, maternal and child health, or chronic disease management.

Private-Public Partnerships:

• Partner with government entities to address specific health challenges, such as creating healthier communities through parks, green spaces, and physical activity programs.

• Collaborative efforts between businesses and local governments can help tackle larger issues like opioid addiction or food deserts, improving community health outcomes.

Health-Conscious Workplace Policies:

• Implement policies that prioritize work-life balance, such as flexible hours, paid family leave, and stress management resources to support employee mental and physical health.

• Offer comprehensive health insurance plans that cover a wide range of services, including preventive care, mental health services, and telemedicine

Support Innovation in Healthcare:

• Invest in or partner with startups and innovators working on healthcare technologies such as telemedicine, health data analytics, or AI-driven diagnostics.

  This not only supports the advancement of healthcare but also gives companies access to cutting-edge solutions for improving employee health.

• Encourage workplace adoption of digital health tools can empower employees to monitor and manage their health proactively.

Earn More, Learn More, Live Well