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Incentives for Global Health
IGH promotes creation of the Health Impact Fund, which would create complementary incentives that delink the price of medicines from the fixed costs of innovation and cover the latter through health impact rewards.
Type of Organization
Non-Profit/Community-Based Organization
Size of Organization
0-10
Organization Mailing Address
313 Saint Ronan Street
New Haven, CT 06511
United States
Health Impact Fund
The Health Impact Fund would create complementary incentives that delink the price of medicines from the fixed costs of innovation and cover the latter through health impact rewards.
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We propose a reform of the global pharmaceuticals sector. A newly created Health Impact Fund would distribute each year a fixed amount among new medications according to their health impact. Any new product could be registered and would then participate in the next ten distributions. In exchange, it would have to be sold at or below the variable cost of manufacture and distribution and be freed for generic production after ten years.
The Health Impact Fund would attract products likely to achieve great impact against diseases of poverty. Innovators would promote these products in an unconventional way. Rather than seek large sales at high markups, they would aim for a collaborative public-health strategy that reduces the overall disease burden as cost-effectively as possible. If a product could make its target disease fade away, it would earn large rewards even with shrinking sales.
Governments have reason to support the Health Impact Fund because it would massively contribute to fulfilling the SDGs and would also make pharmaceutical innovators far better prepared to tackle new infectious diseases like COVID-19.
www.healthimpactfund.org
The Health Impact Fund would attract products likely to achieve great impact against diseases of poverty. Innovators would promote these products in an unconventional way. Rather than seek large sales at high markups, they would aim for a collaborative public-health strategy that reduces the overall disease burden as cost-effectively as possible. If a product could make its target disease fade away, it would earn large rewards even with shrinking sales.
Governments have reason to support the Health Impact Fund because it would massively contribute to fulfilling the SDGs and would also make pharmaceutical innovators far better prepared to tackle new infectious diseases like COVID-19.
www.healthimpactfund.org
Category of Innovation
Innovative Services - Innovative services include new processes, policies or procedures in the health care system that do not fall into the other health care innovation categories
Intended End User
Patient - Individuals who receive health care
Policymaker - Elected officials and departments within local, state and federal governments responsible for crafting and implementing health care policy (anyone who has or is campaigning to have a “.gov” email address)
Impactful Innovation Stage (Click Here for Details)
Solution
Idea/solution to the problem, if applicable
The Health Impact Fund would create complementary incentives that delink the price of medicines from the fixed costs of innovation and cover the latter through health impact rewards.
Level of adoption (i.e. list of customers/users, testimonials, etc.), if applicable
We are working on getting a pilot funded
Impact (i.e. measurable outcomes), if applicable
n/a
Funding Stage
Not Applicable
List of Funding Sources (if applicable)
n/a
Certifications?
No