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Investing in VisionComparing the costs and benefits of eliminating avoidable blindness and visual impairment
Brian DoolanThe Fred Hollows Foundation
September 2012
IAPB 9th General Assembly
Shifting Paradigms in Health CareThe Economic Case to achieve VISION2020 goals
Too often the costs of poor health are borne by society – eye health is no different
Often the monetary hurdles have been viewed as overly high
PwC and The Fred Hollows Foundation
Investments are therefore both cost effective and sustainable. Indeed, when combined with the broader social benefits, eliminating avoidable blindness is the genuine unpicked low-lying fruit of development policy
In pure monetary terms the economic case for achieving the VISION 2020 goals is compelling, the Benefits: Costs Ratio = 4:1 is productivity enhancing
Our work sets out to shift this paradigm.
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Globally, the benefits of eliminating avoidable blindness and visual impairment outweigh the costs by a multiple of
Total benefits are estimated to be at least US$522.6 billion from 2011 to 2020, outweighing the additional investment required (US$127.4 billion)....
In developing countries...
...which is equal to a benefit cost ratio of 4.1
2.8
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The series of reports by PwC addressing the costs and benefits of VISION 2020:
* Developed in partnership with Three Rivers Consulting
The global initiative for the elimination of avoidable blindness
The Price of SightEstimates the global cost of eliminating avoidable blindness and visual impairment*
Total investment of $378.9 billion required ($127.4 billion in developing countries)
A benefits framework for eliminating avoidable blindness and visual impairment
The Value of SightEstimates the value of benefits associated with the effort to eliminate avoidable blindness and visual impairment*
Benefit value of $1,115.4 billion ($522.6 billion in developing countries)
Investing in VisionCompares the cost to eliminate avoidable blindness with the corresponding benefits.
Benefit cost ratio of 2.8 and 4.1 in developing countries
IAPB ConferencePresentation of Investing in Vision
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We would like to acknowledge the contribution to various phases of this work by key individuals and from the following NGOs:
The benefits of eliminating avoidable blindness and visual impairment far exceed the investment required
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Benefits$8.9 per capita (in developing countries)
Costs$2.2 per capita (in developing countries)
Economic benefits
Health benefits
SocialInvestment in primary and secondary health care systems Investment
to treat the backlog
Social benefits are weighted towards developing countries
Benefits not quantified in monetary terms
Reduced Child Morality
Increased Primary Education
Improved Independence, Self-esteem, & social networks
Improved quality of life
Reduced extreme poverty
Increased gender equality
Social benefits will be realised predominantly in developing countries
$
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Future research will help to overcome the data limitations encountered, strengthening the analysis of costs and benefits
Key areas for future research that would help to refine future estimates of both the costs and benefits include:
Despite the data limitations, sensitivity analysis shows that the benefits of eliminating avoidable blindness and visual impairment substantially outweigh the costs
Prevalence 15-65 yrs
Average income and employment for blind & visually impaired in developing world
Impact of caring on productivity
Current expenditure on eye health services by country
Current workforce in respect to eye health and primary care by country
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An innovative financing mechanism
There is therefore likely to be a key role for donors:• For the poorest nations donors can
fund the entire package• For less poor donors can provide
initial financing, with the positive pay-off from reforms being gradually used to offset donor funding
Making this Possible
Initial Donor support transitioning into self financed
Donor financed
Self - financed
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$ $ $
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Investment in eliminating avoidable blindness is both cost effective and sustainable.
For the world’s poorest countries finding the requisite funds will be a challenge, and for others still it will likely be insurmountable.
The only existing barriers are political.
The Fred Hollows Foundation is hosting a Breakfast session
Wednesday, 19 September, 7.30-9.00amHall A
Presentation of the methodology used for the Price of Sight report and the Benefits Framework report, The Fred Hollows Foundation
Mr Jeremy Thorpe, Partner, PwC Australia and Mr Marty Jovic, Director, PwC Australia
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©2012 PwC. All rights reserved. "PwC" refers to PwC, a partnership formed in Australia or, as the context requires, the PwC global network or other member firms of the network, each of which is a separate and independent legal entity.