The Economic Impact of Giving Back: Lessons from Mercy (Sponsored Content)

In today’s rapidly changing business landscape, the concept of giving back to the community is often overlooked amidst profit margins and bottom lines. However, as demonstrated by Mercy, there are substantial economic benefits to be gained from investing in the well-being of both internal and external communities. Vice President of Mission for Mercy Springfield Communities, Bill Hennessey, and Molly Holtmann, Director of Community Health and Access for Mercy Springfield Communities discuss some of the tangible advantages of embracing a culture of giving back.

External Community Impact:
Mercy channels resources into various initiatives aimed at supporting the external community. Through community benefit dollars, the organization provides financial assistance for medical care, outreach services, donations, and Medicaid subsidies. In fiscal year 2023, Mercy Springfield Communities donated $27 million worth of free or discounted care. By addressing the needs of vulnerable populations, such as those without insurance or adequate resources, Mercy not only improves individual health outcomes but also fosters a healthier community at large.

For instance, the Community Medication Assistance Program (CMAP) ensures individuals facing financial barriers to accessing medications receive necessary support. By promoting medication adherence and disease management, Mercy contributes to reducing emergency department visits and hospital admissions, thus alleviating the burden on healthcare resources.

“Our first question is always what’s right for the patient, so helping those in need fits within our mission, but it also works out in the long run from a business perspective,” Hennessey explains. “A lot of patients who show up in our ED, don’t actually need to be there. What they need is a medical home like a primary care provider or case worker who can make sure they are taking their medications, or make sure their blood pressure is under control. When those basic health needs are met, we see fewer visits to the ED. That is good for the patient, good for our community because it means ED wait times are down, and it’s good for our bottom line. When we focus on what’s best for the patient, the finances follow and things just work out.”

Internal Community Support:
In addition to external contributions, Mercy prioritizes the well-being of its internal community, recognizing that co-worker satisfaction and retention are essential for sustained success. The implementation of a daycare subsidy program and co-worker crisis fund exemplifies the organization’s commitment to supporting its workforce.

The daycare subsidy program not only assists Mercy co-workers with childcare expenses but also fosters loyalty and longevity among staff members. More than 22% of Mercy co-workers have been with the healthcare provider for more than 10 years. By alleviating financial burdens associated with childcare, Mercy promotes a positive work environment and reduces turnover, ultimately enhancing operational efficiency and productivity.

Holtmann, who played a role in bringing the need for childcare assistance to the attention of leadership is particularly proud of the impact these programs have had internally.

“One of the biggest joys of my life was when Mercy started offering a daycare subsidy,” Holtmann says. “If more companies would have crisis funds and if they would subsidize daycare, they would be creating co-workers for life.”

Partnerships and Collaboration:
Through strategic partnerships, Mercy extends its influence beyond the confines of health care facilities and engages with the broader community to identify and address unmet needs. Whether through volunteerism, financial contributions, or advocacy efforts, these partnerships amplify the organization’s capacity to effect positive change and drive sustainable economic growth.

The case of Mercy serves as a compelling testament to the economic benefits of giving back to both internal and external communities. By investing in community health initiatives, supporting employees, and fostering collaborative partnerships, Mercy not only fulfills its mission of putting people first but also cultivates a culture of compassion, innovation, and stewardship.

Businesses across industries can draw valuable lessons from Mercy’s holistic approach to community engagement and recognize that social responsibility and economic prosperity are intricately intertwined. By prioritizing the well-being of employees and the broader community, organizations can create a virtuous cycle of mutual benefit, driving sustainable growth and positive societal impact.

This content is brought to you by Mercy Springfield Communities.