Why and how we use a development impact framework to measure the impact of our innovative finance tools.
Our development impact framework ensures we target our capital at partnerships that will deliver positive impact. The framework is based on four principles:
We assess whether MedAccess’ innovative finance tools will lead to increased health benefits sooner than would have otherwise been the case, by looking at three indicators.
MedAccess’ approach to impact aims to balance rigour with pragmatism. Our claims are based on broad contribution, supported by the best available evidence, rather than precise attribution.
Projecting impact for decision-making
Before making a decision to provide a guarantee or loan, we estimate the potential impact of the opportunity against all three indicators (Lives changed, Money saved and Markets shaped) by comparing it against a scenario where we do not invest.
We use the framework to identify and prioritise high impact opportunities, to ensure that capital is deployed in the most impactful way. All opportunities must meet a minimum development impact threshold to be considered.
We build confidence in our underlying assumptions through desk research and gathering supporting evidence from partners. This ensures that, as well as capturing the potential additional impact generated by a MedAccess investment, we understand overall potential impact of the partnership, both for the duration of our involvement and in the long-term.
After entering into a financing contract, we continue to use the framework to estimate the impact of the investment. To ensure our impact estimates are based on verifiable and validated data, impact is calculated based on the total reach of products supported by the investment, capturing change from baseline. No assumptions are made about changes to product purchasing that would have occurred without MedAccess financing.
We use these estimates to support the implementation of existing agreements and to guide our future strategy by considering how we can identify more impactful opportunities.
Partnering for sustainable impact
Partnership is crucial to the way MedAccess operates. The approach adopted by global health partners usually recognises that impact cannot be achieved by one entity alone. Joint activities which target multiple barriers to access and impact within a complex system are necessary to achieve sustainable impact.
To ensure the products that MedAccess supports have a positive long-term impact on peoples’ lives, we work with partners to tackle many of the market barriers which are preventing uptake of the product. For example, our partners support the registration and introduction of products in key countries to help ensure our volume guarantees are successful.