RETURN ON INVESTMENT
Vaccines are not only life-saving, they are also a smart economic investment. For a few dollars per child, vaccines can prevent disease and disabilities that last a lifetime, saving millions of dollars in potential healthcare spending by households and the health system. Vaccines can save lost wages and reduce productivity loss due to illness and death, contributing further to economic growth. Return on Investment (ROI) estimates provide important evidence that supports vaccine introduction decisions. In an earlier study (Ozawa et al., 2016), we estimated that projected immunizations will yield a net return about 16 times greater than costs over the decade. Immunization has a higher return on investment than many other interventions like pre-school education, public infrastructure, community health workers, government bonds and cardiovascular disease research.
Building on the lessons learned from the previous phases, the DOVE-ROI analysis aims to measure the ratio of total economic benefits to total costs from immunization programs against 10 antigens for 94 low- and middle-income countries during the current “Decade of Vaccines” 2011-2020, and the future decade from 2021-2030. The analysis aligns outputs from DOVE Cost of Illness (COI) models and the DOVE Costing, Financing and Funding Gap (CFF) model updated with additional data inputs and structural changes made to the models. The analysis also leverages the progress made by the DOVE IV primary data collection and systematic review of cost of illness.
The analysis is a collaborative exercise between IVAC-DOVE team and experts in immunization economics and financing, who comprise the DOVE-ROI Core Group. Previously referred to as “the Global Vaccine Action Plan (GVAP) Costing & Financing Steering Committee,” the Core Group is an advisory body for the ROI analysis that offers technical guidance for the updated methodology, provides support to collect model inputs, and reviews materials and documents produced from this analysis.
While the ROI analysis is intended for all relevant stakeholders in the field of vaccines and immunization programs, the results of this analysis will be particularly useful for Gavi’s mid-term review and investment case for the third replenishment which will take place in 2020.
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