LENEXA, Kan.--(BUSINESS WIRE)--WellSky, a leading health and community care technology company backed by TPG Capital, today announced the launch of the WellSky Foundation, a nonprofit dedicated to improving the quality of life for vulnerable populations by removing social barriers to better health outcomes. With the understanding that socioeconomic factors affect a person’s wellness to a greater extent than health care access, the WellSky Foundation supports organizations that are boldly addressing key socioeconomic challenges and creating better lives for people in need.
“As part of WellSky’s whole-person, intelligent care initiative, the WellSky Foundation reinforces the deep connection between health and social factors in a person’s overall wellness. Establishing the WellSky Foundation is a testament to our ongoing work to proactively partner with providers and community organizations to build thriving communities,” said Bill Miller, CEO of WellSky. “Our software, analytics, and service solutions span the continuum of care, and with our proven track record of empowering our clients’ success, we’re uniquely qualified to lead the movement toward increasingly comprehensive care.”
According to The American Hospital Association (AHA), socioeconomic factors account for approximately 40 to 60 percent of an individual patient’s overall health. The Centers for Disease Control and Prevention also recognizes that social determinants of health significantly impact care providers’ ability to identify and deliver appropriate levels of patient care.
The WellSky Foundation focuses on the top socioeconomic factors with the greatest impact on a person’s long-term well-being: food insecurity, housing, transportation, and isolation. Statistics reflect that:
- Malnourishment appears in 30-50% of all hospitalized patients age 60 and older, according to the National Center for Biotechnology Information (NCBI);
- The 30-day inpatient hospital readmission rate among homeless patients was 50.8%, according to NCBI;
- Approximately 3.6 million individuals every year do not receive the necessary medical care due to transportation barriers, according to Ride Health; and
- According to research in a study called, Loneliness: Human Nature and the Need for Social Connection, loneliness is a dire threat to public health, exceeding that of obesity and smoking. This epidemic increases the risk of an early death by 14%.
“At the heart of the WellSky Foundation is the belief that working together with community partners elevates care and helps people in need find support, kindness, and a better chance at recovery and lasting wellness,” said Andrea Morgan, Executive Director of the WellSky Foundation. “WellSky understands that caring for the whole person — in the context of their communities, families, and social support systems — results in better outcomes, lower costs, and sustainable care. It is the driving force behind the WellSky Foundation.”
Established in 2019, the WellSky Foundation anticipates the announcement of its first round of beneficiaries and grant recipients later in the year. To learn more about the WellSky Foundation, visit wellskyfoundation.org.
WellSky is a technology company advancing human wellness worldwide. Our software and professional services address the continuum of health and social care — helping businesses, organizations, and communities solve tough challenges, improve collaboration for growth, and achieve better outcomes through predictive insights that only WellSky solutions can provide. WellSky is leading the movement for smarter, whole-person care with a visionary approach that addresses individuals’ unique health and social circumstances. A portfolio company of TPG Capital, WellSky serves more than 10,000 client sites around the world — including the largest hospital systems, blood banks and labs, home health and hospice franchises, government agencies, and human services organizations. Informed by more than 30 years of providing software and expertise, WellSky anticipates providers’ needs and innovates relentlessly to help people thrive. Our purpose is to empower care heroes with technology for good, so that together, we can realize care’s potential and maintain a healthy, flourishing world. For more information, visit www.WellSky.com.
TPG is a leading global alternative asset firm founded in 1992 with more than $84 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com.