Thesis about Health Impact Bond
It is stated that healthcare sector is facing an economic crisis. This means that the current system can go broke since expenses are overcoming the economic power of society. Therefore, developing cost-effective initiatives, which produce good results without costing too much money, are an interesting perspective to explore. An example would be developing disease management projects, as a strategy to drive value and reduce costs. For this, a complete reformulation of the system must occur, including the pharmaceutical industry sector.
The aim of this study was to perceive the role and identify the direction pharmaceutical industry might go based on the need to change plus identify opportunities and challenges from stakeholders about developing a disease management project in diabetes. Eleven interviews were conducted among pharmaceutical representatives, politicians, investors, patient representative and consultants specialized on a payment model that offers financial incentives based on performance.
The results indicated that pharmaceutical industry should actively contribute to change the healthcare system. Thus, pharmaceutical industry might move towards a business which profits according the value and outcomes provided, instead of profiting by unit of product sold. Regarding the diabetes management project, it was clear that there is an opportunity to be developed and several challenges were identified. Basically, the disease management project in diabetes is meant to promote a collaboration between all stakeholders in order to minimize the economic and health impact of a preventable disease. In addition, the collaboration between different stakeholders might bring up a new culture of collaboration which could be a trigger to redesign the healthcare system.
Finally, any attempt to implement a change, either in healthcare or in the pharmaceutical industry, will not happen without strong leaders, collaborative culture and courage to battle the lack of resilience to change.
The thesis is written by Luisa Cruz, Master Programme in Bioentrepreneurship at Karolinska Institutet. Academic supervisor was Lars-Arne Haldosen and Company Supervisor Fredrik Söder
Please see thesis attached: Exploring a pharmaceutical business shift – From selling medicines to selling health outcomes