You’ve probably heard us say that at HFI, we invest in health today in order to create wealth tomorrow. But what does that really mean?
Health and wealth are inextricably linked. The International Monetary Fund (IMF) has coined health as a macro-critical issue that could have an impact on the global economy. Improper investment in health—particularly when it comes to prevention, adherence to global health guidelines, and access to necessary treatment—causes the largest global economies to lose approximately 5% in unrealized GDP growth.
One issue we face is that without direct financial and impact standards designed to help align investment decisions with health equity and outcomes, economies will continue to operate in a suboptimal solutions space, and societies will not reap the benefits of scenarios where companies with high health impact accelerate their activities. In addition, companies that negatively impact health will continue to leave health systems burdened with their negative externalities.
All of this is why we are working to develop the Health Equity/Impact Credit. Global health needs a standardized tool to measure the health impacts of philanthropies, businesses, and funds. This tool should also demonstrate the link between health, economic, and financial outcomes.
We are currently in the process of vetting multiple courses of action for the Health Equity/Impact Credit, including:
A cross-industry health equity score that’s standardized across all industries looking only at equitable access to health-related services/products
An industry-specific health equity score, which would compare similar industries looking only at equitable access to health-related services/products
A cross-industry health impact score, which would look at both equitable access to services/products and measure the health benefits derived from them, standardized across all industries
An industry-specific health impact score, which would compare similar industries and look at both equitable access to services/products and the health benefits derived from them
We are excited to continue to share our work with you as we determine the best course of action and build something that can help us create a world where everyone has access to the healthcare they deserve.
The Health Finance Institute (HFI) is partnering with the Sanofi Public Policy team to address the important issue of healthcare investments through the development of a working paper. The aim of the partnership is to mobilize relevant stakeholders around the need for financial sustainability, economic sufficiency and investment tools to ensure better access to healthcare solutions (including medicines). The paper will be shared with the global health community for feedback and comments at a roundtable held at the 78th United Nations General Assembly in September 2023.
Together, HFI and the Sanofi Public Policy team hope to unleash the hidden power of partnerships and innovation to address the sizable health financing gap. Specifically, the potential for governments to increase partnerships within the pharmaceutical industry provides an opportunity to ensure populations have access to innovative, quality care and, in the process, to decrease health inequalities. Partnerships and innovative financing mechanisms that de-risk and bridge the gap between initial discovery research and final product development have the capacity to produce returns up to four-fold.
HFI to Attend World Health Assembly May 21-30
The Seventy-Sixth World Health Assembly will be taking place in Geneva, Switzerland, later this month. The theme of the Health Assembly is WHO at 75: Saving lives, driving health for all.
We are excited to be attending the WHA this year and participating in strategic roundtables with WHA delegates, partner agencies, representatives of civil society, and WHO experts to discuss current and future priorities for public health issues of global importance.
Video - Health for all: 75 years of improving public health (World Health Organization)
Meet Our New Teammate!
We are excited to share a recent staffing update. Malik Flournoy-Hooker has joined HFI as an HR and Operations Intern.
Malik is a highly accomplished graduate of the Gender Studies program at the University of California, Los Angeles (UCLA). With extensive administrative experience and impeccable organizational skills, Malik has made significant contributions to various industries and organizations throughout their career. Malik's experience spans several diverse fields, including the music industry, education system, and a domestic violence organization. In each of these roles, Malik has demonstrated a strong commitment to excellence, an unwavering work ethic, and a passion for creating positive change. Currently, at HFI, Malik serves as an HR & Operations Intern, providing optimal organization services to make the workspace more efficient for the company.
Careers at HFI
New opening: We are now hiring a Global Health Consultant to collaborate with various stakeholders on our global health programs and policies.
We’re also continuing to seek candidates for our Senior Health Economist opening and our Research Assistant Intern role. Join us to reshape the outlook on NCDs worldwide.
