Scoping partnerships based on impact
We scope a wide range of opportunities to for our financial products to increase access to medical innovations. Our impact framework helps us to decide which potential partnerships to pursue by indicating where we can have the greatest impact.
We measure impact against three categories:
- Lives changed
- Money saved
- Markets shaped
We ask key questions to determine whether we should pursue a partnership and to start developing appropriate metrics to project a potential agreement’s impact and monitor its performance against our projections.
To answer these questions, we draw on available evidence from a range of sources, including laboratory research, clinical trials, market surveys and in-country experiences with a particular health problem and/or product, to name a few.
Often there is limited published evidence available, so we verify assumptions through discussions with experts and other stakeholders.
Our impact indicators
- How many people will gain access to the product?
- How will their health improve and how many premature deaths will be averted?
- How much has our guarantee reduced the price of the product?
- What does this mean in direct cost savings for procurers?
- Will the guarantee sustainably improve affordability and procurement practices?
- Will increased demand visibility improve long-term supply security?
Before agreeing to provide a financial product, we develop impact projections against all three impact indicators and compare them against a scenario where MedAccess does not intervene.
All potential agreements must meet a minimum impact threshold to be considered. We use the framework to identify and prioritise high impact opportunities within our partnership pipeline, to ensure that capital is deployed for maximum health impact.
After entering into an agreement, we use the framework to monitor its impact. 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.
We use these impact estimates to support the implementation of existing agreements and to guide our future strategy by considering how we can identify further impactful opportunities.
Impact after an agreement has ended
When an agreement is near the end of its term, we assess what we think will happen once it ends. After it ends, we undertake a two-step process to assess our longer-term market impact:
- End of agreement review – in the first year after the agreement ends, we review impact performance and lessons learned, implementing appropriate changes to our processes, and continue to track market-shaping impacts.
- Sustained impact review – within 2-4 years after the end of the agreement, we conduct analysis to determine whether market-shaping impacts have endured beyond the term of the agreement.
Validating our approach
BlueMark is a leading independent provider of impact verification services in the impact investing market. BlueMark is a subsidiary of Tideline Advisors, LLC, a specialized consulting firm that works with asset managers and allocators to design and implement best-in-class impact management and measurement systems.
MedAccess engaged BlueMark to independently verify the alignment of our impact management practices with the Operating Principles for Impact Management, an industry standard for integrating impact throughout the investment lifecycle. BlueMark’s assessment findings cover both areas of strength and areas for improvement, as reflected in the Verifier Statement.
For more information about our impact, please contact Tristana Perez, our Development Impact Executive.