In 2021, the US allocated 17.8 percent of its gross domestic product (GDP) to health care, almost double the average expenditure of countries in the Organisation for Economic Co-operation and Development. Despite leading in spending, the US ranks poorly in health outcomes, with the lowest life expectancy at birth, highest rates of death from preventable conditions, highest maternal and infant mortality, and some of the highest suicide rates. Socioeconomic health disparities are a major factor contributing to these poor outcomes, imposing significant costs on the health care system and the broader economy.

A 2023 National Institutes of Health-funded study highlighted that racial and ethnic health disparities cost the US $451 billion in 2018, up 41 percent from $320 billion in 2014. Education-related health disparities for those without a college degree amounted to $978 billion in 2018, nearly double the annual growth rate of the US economy. Thus, addressing health equity is both an ethical and economic imperative for the US health-care system.  

Scientific research is crucial for advancing health equity by providing evidence to understand and address health disparities. Rigorous research helps identify the root causes of inequities, from socioeconomic factors to systemic biases, and can develop treatments and strategies aligned with community needs. Innovations like genomics, AI, and telemedicine offer new ways to tailor care and improve access for underserved populations. Additionally, research informs policy and public health strategies, ensuring they are evidence-based and focused on the needs of marginalized communities, ultimately driving a more equitable health system.

The Milken Institute Science Philanthropy Accelerator for Research and Collaboration conducted a comprehensive review of key stakeholders and the current funding landscape of initiatives at the intersection of health equity and science. This report lays out the top funders of health equity initiatives and highlights existing funding gaps. By understanding the unique benefits each stakeholder provides, the currently available funding mechanisms, and how each sector impacts the biomedical research ecosystem, funding can be applied effectively to ensure a vision of equitable health outcomes for all.