In the first-ever report of its kind, the WHO Council on the Economics of Health for All has outlined a bold new path to reorient economies to deliver what matters - health for all. It aims for a paradigm shift in the way health financing is viewed - from one of expenditure to investment.
The Council, created by WHO Director-General Dr Tedros Adhanom Ghebreyesus in November 2020 in response to the COVID-19 pandemic, and chaired by Professor Mariana Mazzucato, has spent the last two years rethinking the economy from a health for all perspective, and pushing forcefully the principle that human and planetary health must be at the heart of how we design our social, health and economic systems and policies.
The Council has put forward a bold new narrative grounded in new economic wisdom to reorient economies to deliver health for all across four interrelated themes:
• Value - valuing and measuring what matters through new economic metrics
• Finance - how to finance health for all as a long-term investment, not a short-term cost
• Innovation - how to advance health innovation for the common good
• Capacity - how to strengthen dynamic public sector capacity to achieve health for all.
“Two years ago, I asked a team of the world’s leading economists and public health experts - all women - to create a paradigm shift. Now, instead of health for all being seen as the servant of economic growth, we have a roadmap for structuring economic activity in a way that will allow us to reach the goal of seeing all people with access to essential health services faster with better results,” says Dr Tedros.
“Over the past two years, the WHO Council on the Economics of Health for All has worked to craft a new economic narrative - one that transforms financing for health from an expenditure to an investment,” says the Council’s Chair, Professor Mariana Mazzucato. “We have examined the changes needed - including to the structure of patents, public-private partnerships and budgets - to design an economy that delivers Health for All. In our final report, we call for new economic policy that is not about market fixing but about proactively and collaboratively shaping markets that prioritise human and planetary health.”
The report, entitled Health for All: Transforming economies to deliver what matters, provides a new framework built on the above four pillars, with specific recommendations under each - drawing from the Council’s previous work.
Key recommendations include:
• The need to value and measure the things that truly matter - human and planetary flourishing - rather than pursuing economic growth and GDP maximisation regardless of the consequences. To achieve health for all, governments must rethink value and reshape and redirect the economy based on social and planetary well-being, guided by new metrics.
• A fundamental overhaul of national and international systems for financing health is needed, so that spending on health is treated as a long-term investment. Delivering Health for All will require both more money, and higher quality financing.
• Innovation requires collective intelligence - it is never the fruit of just one company or government agency. But unless innovation is governed for the common good, many people remain excluded from its benefits. A new end-to-end health innovation ecosystem that prioritises the common good is needed.
• As the COVID-19 pandemic has made clear, the quality and capacity of government matters. Effective governments are not the smallest, but those that are well-designed and properly resourced, both financially and in terms of their people and infrastructure. Re-investing in government capacity is crucial to delivering Health for All.
The report also provides suggestions, with examples, of what can be done in practice to implement the changes needed to reorient measures of economic value, the financing of health, innovation and building public sector capacity in the service of health for all.
The recommendations included in this report could change the way countries view and finance health. WHO calls on policy-makers, civil society, and members of the health and economics communities to give full consideration to the recommendations and use them as a compass to develop new economic policies and structures that can move us along the road to making health for all a reality.
The report is available here: https://www.who.int/publications/m/item/health-for-all--transforming-economies-to-deliver-what-matters
