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.
About WellSky
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.
About TPG
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.
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