Over the next four months I will be getting guidance from the Explorers and meeting with people on three broad areas:
1. Understanding and valuing health in ways other than the deficit model
2. Finding real-world examples of health creation, including the value models used
3. Hearing the perspective of funders, especially on how they justify the investment
If you have a perspective to share, we’d love to hear from you. Above is the one-pager (PDF) we’ve created with the Charity to explain the project.
We've known about social determinants of health for some time now, but we're yet to move the needle on them. At Wellthcare we think there are two reasons for this. Firstly, social interventions are, by nature, complex -- their outcomes are emergent, unpredictable, making it hard to invest in because the benefits are unclear. Secondly, from a modelling standpoint, measuring benefit on the basis of reduced healthcare costs limits it to the aforementioned 20%; it may be that we can find more value if we look at what we're creating in the 80%. We need to build on what we know of social determinants to experiment, collect empirical evidence, and find multiple ways to value the outcomes, both in the 20% and the 80%.
We’ve also made it more explicit that Wellthcare is an exploration, partly by simply saying so and partly by introducing a timeline. This is in response to the many people who have scratched their heads and asked me for an elevator pitch. I think elevator pitches are great if you’re genuinely riding an elevator with a venture capitalist and have 12 seconds to convince him or her to give you a wodge of cash for your brilliant product. But they’re largely rubbish if – as we so sorely need in health – what you’re doing is thinking, and slowly discovering, in the open space of the Internet. That said, describing Wellthcare as an exploration to find new ways to value health seems to be reducing the head scratching.