What are the next steps for Incentives for Global Health? Showing that the Health Impact Fund is an effective market-based solution to health problems around the world.
Demonstrating the efficacy of the Health Impact Fund Proposal can be achieved through a pilot miniHIF
With a miniHIF, IGH would hold a competition open to all pharmaceutical companies that wish to participate. Companies could submit proposals describing an initiative, which would most likely target lower- and middle-income countries. The proposal would include the project’s anticipated impact on health and how health impact could be assessed. The best proposals would be funded for up to three years by the miniHIF. Similar to the proposed Health Impact Fund, money contributed by governments, foundations, and other donors would be split among participating pharmaceutical companies based on the measured health impact of their innovations. The most effective HIF pilot would be funded in the range of $60 million to $200 million. IGH, along with its collaborators, would select the leading proposals in order to limit the number of competitors dividing the reward.
The diagram below shows some of the kinds of products that could be developed and distributed with the miniHIF. The anticipated reward pool is probably not large enough to incentivize the development of entirely new drugs, but it could spur the development of new doses, deliver methods, and distribution plans, which would increase access and improve health.
By Sara Seymour & Shicheng (Tony) Jin. Photo courtesy of PAHO