Addressing the Women's Health Gap

A January 2024 McKinsey study on women’s health and the workforce estimates that women spend roughly nine years, or 25% more of their lives, in poor health relative to men. There are many factors that contribute to this alarming statistic, including that women often tend to be diagnosed later than men, that they receive worse care than men once they get a diagnosis, and that they have more barriers to affordability of care.?

This gap has severe financial consequences. McKinsey estimates that fixing the gap has the potential to improve the global economy by at least $1 trillion annually by 2040. This would mean a 1.7 percent increase in the average per capita GDP generated by women. And the fact that women’s health conditions have historically been underreported means that this estimate is a relatively conservative one.?

For Black women, the gap is even more pronounced. A 28-year study of Black women’s health by Boston University has found that compared to other ethnic and racial groups, Black women have a greater chance of dying from a variety of illnesses, including cardiovascular disease, hypertension, stroke, lupus, and several cancers. They are also twice as likely than white women to develop diabetes over age 55 and two to three times more likely to develop fibroids. And the racial gap in insurance coverage means that Black Americans are far less likely to have insurance than white ones.

Both government and private equity funding are working to address the women’s health gap. On February 21, First Lady Jill Biden announced $100 million in federal funding for research and development into women’s health. This is part of a new White House Initiative on Women’s Health Research to address the chronic underfunding of research into women’s health.?

Private equity funding for women’s health conditions has traditionally lagged behind funding for male conditions. McKinsey reports that funding for companies working to address erectile dysfunction was six times greater than companies focusing on endometriosis, despite the fact that a 2022 study suggests that endometriosis can lead to a direct medical cost of between $1459 to $20,239 per patient per year. However, in the past four years, women’s health newcomers have received $2.2 billion in funding, and 60 percent of the top deals addressed women’s health, including endometriosis, fertility, and maternal health.

At Genius Guild, we’re proud to invest in Health in Her HUE, a company founded by a Black woman that aims to address the women’s health gap. Health in Her HUE is a digital platform that aims to lessen the racial disparities found in healthcare by empowering communities of color to take control of their health and learn about the health and wellness issues that affect them the most. As we celebrate Women’s History Month this year, we are determined to continue investing in companies that are working to eliminate gender and racial barriers and solving the most intractable problems.