Health systems can play important roles in helping Black communities build wealth, according to Penn Medicine.
Eugenia South (M.D., M.S.H.P) stated that health systems have a choice to continue with the status quo or reposition themselves as essential actors in closing the racial wealth gap.
Data at Penn Medicine shows that Black Americans comprise about 13% of the U.S. population but hold only about 3% of the country’s wealth; moreover, in 2019, the median net worth of white American families was $188,200—several times greater than the $24,100 median net worth of Black American families.
Structural racism embedded in historical and present-day policies and practices contributes to the racial wealth gap.
While no single institution can solve the problem alone, the authors suggested several ways to help Black patients by building wealth, including job income, savings, investments, and similar assets or revenue.
Building wealth only works when we work together as a community and help lift each other along the way.
Credit: Dr. Eugenia South "How health systems can help build Black wealth", https://penntoday.upenn.edu/news/penn-medicine-health-systems-can-help-build-black-wealth
The BPHN program is a public-private partnership between Montgomery County’s Department of Health and Human Services (DHHS) and NCCF, funded primarily by the County with supplemental grants and donations secured by NCCF.
© copyright 2024 BPHN - All Rights Reserved Privacy Policy