Making the case for investment in healthcare and innovation
It’s no secret that the world has become a more uncertain place in recent years. We all experienced the COVID-19 pandemic first hand and see the economic upheaval that has followed, which has only made the task of future-proofing our economies and health systems more urgent.
As we look to the challenges and opportunities of how to grow our economies and how to build healthier populations and more resilient healthcare systems, I am more convinced than ever that the answers will come from innovation, collaboration and a deep commitment to partnership between public and private sectors. That is the message that I am taking to global health and policy leaders at the UN General Assembly (UNGA) this month, where important global health topics like antimicrobial resistance (AMR) and health security will be discussed.
The current state of play
Over the past century we have witnessed remarkable advancements in a range of areas, whether that’s the development of cleaner forms of energy, AI or healthcare. Breakthroughs in medical science, technology, and public health have all led to significant improvements in life expectancy, disease prevention and overall quality of life.
However, we still face serious challenges as captured below:
If we want to meet these challenges, we can’t carry on doing things in the same way and expect different results.
The Investment Case for Health
In my role as Head of Global Policy for Roche and Global Ambassador for the G20/G7 Health and Development Partnership, I frequently see how the next wave of innovative healthcare solutions can transform the way we prevent, diagnose and treat disease. But I also hear how policymakers are struggling to manage their budgets with so many competing demands for resources. These financial pressures are significant and need to be addressed, but it’s important not to view spending on healthcare simply as a cost - instead, thinking about it as an investment. And it is an investment that has been proven to deliver health and economic returns:
Governments simply cannot afford to ignore the potential benefits of investing in healthcare, including in innovative medicines, and the critical role it plays in keeping people healthy, working and contributing to society. Healthy populations are vital to building a sustainable future, while healthy ageing also helps limit the burden on nations’ healthcare services.
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This is why I look forward to collaborating with health and policy stakeholders at the UNGA this month to discuss the following topics:
1) Health should be considered a strategic investment that supports wider economic growth
The burden of NCDs is continuing to grow, and will do as our societies continue to age. As a result, there is a growing consensus that the world will fail to meet its Sustainable Development Goal target to reduce premature mortality from NCDs by a third before 2030. This is placing significant pressures on healthcare services and we’re already seeing the impact in our homes, hospitals and other care settings.
We need to take action today if we want to create sustainable health systems for the future, and I believe that starts by viewing health as an investment. I also believe that when budgets are constrained, it is important that investments are made into the areas of healthcare that offer the greatest returns, such as prevention, early screening and diagnosis, and the use of standard of care treatment. Doing this today could reduce the future burden on healthcare systems and allow patients to contribute to society for longer.
2) Innovative medicines are an essential part of a thriving society
Innovative medicines impact patients’ lives in a number of ways, including giving people extra years with their families and improving their quality of life. But beyond these important health benefits, these treatments can allow people to return to work and contribute to society, generating a wider economic and societal benefit outside of the healthcare system.
At Roche, we are committed to playing our part in delivering the innovation society needs across a range of disease areas, and are constantly looking into ways to increase our societal impact through our innovations. But developing innovative medicines will only unlock true benefits for patients, health systems and economies by working in partnership with governments to make them available.
3) We must work in partnership to build a virtuous cycle of improved health, economic growth and prosperity
Which brings me on to my final point. Over the next decade, current and future innovations have the potential to transform our ability to manage diseases and address growing productivity and economic challenges. Making the most of the opportunity will require a renewed partnership between all stakeholders, including life sciences companies, governments, multilateral organisations and civil society.
A great example of where this partnership approach is needed is in tackling antimicrobial resistance (AMR), a key topic at this year’s UNGA. AMR is one of the most significant health challenges of our time, yet the innovation gap between the tools we need to fight AMR and the tools we have is widening. As one of the few companies working in antibiotic development, we think it is vital that governments and companies collaborate to develop and bring access to novel antibiotics. This is critical because modern medicine relies on the availability of effective antibiotics to do everything from routine surgery and dentistry, to cancer care. I look forward to discussing this further at the upcoming UNGA High Level Meeting on AMR.
Chief Executive Officer at Rubury Company
3moThanks for sharing
Gerente de Advocacy & Alliance en Roche | Consultor en Sostenibilidad
4moMe encanta el enfoque del circulo virtuoso! gracias por compartirlo
Founder & CEO at Health Finance Institute | Professor | Keynote Speaker | Health Economist | Entrepreneur
4moLooking forward to connecting soon
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4moThis was a very insightful article.