U.S. Chamber report shows $20 return for a $1 investment in health interventions
WASHINGTON, D.C. – Today, the U.S. Chamber of Commerce’s Global Initiative on Health and the Economy (GIHE) released a new report, Increasing Social and Economic Benefits Globally: Rates of Return on Health Investments, that found that countries would on average realize a return of $20 in increased GDP growth for every $1 invested in cardiovascular disease and diabetes interventions.
Likewise, countries could see a return of $22 for every $1 invested in anxiety disorders and depression interventions, according to the economic analysis by U.S. Chamber partner Victoria Institute of Strategic Economic Studies projects. The study – covering 27 countries across the globe – provides insights into the economic and social returns to investments in prevention and treatment for chronic illnesses.
“For years, the U.S. Chamber has recognized non-communicable diseases as a drag on the economy and workforce productivity. We see public-private-partnerships and new investment in healthcare as key to our efforts to drive economic growth and development,” said Myron Brilliant, U.S. Chamber of Commerce Executive Vice President and Head of International Affairs.
These findings are particularly relevant in the COVID-19 period, given prior research indicating that non-communicable disease (NCD)-related co-morbidities increase the risk of death or serious complications from COVID-19. More broadly, addressing the causes of NCDs will save lives and improve overall societal health, as well as support increased economic activity as countries across the globe seek to jump-start their economies in the post-COVID period.
The report – released at the Concordia Annual Summit – shows significant returns across all 27 countries for investments in treatment programs targeting the working age population, which can effectively enhance productivity. The returns are particularly high among developing countries, reaching as much as $65 in Kenya for cardiovascular disease and diabetes interventions, and $58 in India for mental health interventions.
“The COVID pandemic has made clear that building the kind of resilient healthcare ecosystems needed to address future health threats will require close collaboration between governments and the private sector,” said Brilliant.
As governments consider their policy approach to chronic disease management and preventive health services, the report provides guidance on health interventions to maximize social and economic returns on investment. These include support for employer-led health and wellness initiatives, adoption of innovative health technology, and consultation with private sector stakeholders during the formulation of NCD policies.
Read the full report: https://www.uschamber.com/report/increasing-social-and-economic-benefits-globally-rates-of-return-health-investments
To learn more about GIHE, visit https://www.uschamber.com/global-initiative-health-and-the-economy.
The U.S. Chamber of Commerce’s Global Initiative on Health and the Economy seeks to elevate the role of investment in health as a strategy for economic growth and sustainable development to respond to the impact that ill health is having on workforce productivity, global development and economic opportunity. GIHE engages foreign government officials in health, finance, education and urban planning to demonstrate the private sector value in supporting health care innovation and efficiency.