Supply Chain Financing and Private Sector Engagement
Health financing plays a critical role in shaping the availability, accessibility, and utilization of health products and technologies in developing countries. By prioritizing investments in health systems strengthening and ensuring sustainable financing mechanisms, countries can enhance the performance and impact of health products and technologies systems, ultimately improving health outcomes for their populations and advancing progress towards sustainable development goals.
FSW Consulting supports the health sector leaders to identify and strengthen specific aspects of Health financing as they impact HPT systems and services. FSW Consulting focus areas include;
- Procurement and supply: Adequate health financing enables governments and healthcare institutions to procure essential medicines, vaccines, medical devices, diagnostics, equipment, and other supplies necessary for delivering quality healthcare services. Additionally, adequate funding is needed to establish efficient distribution networks, procure storage facilities, and implement inventory management systems. Financing mechanisms such as pooled procurement and strategic purchasing can help optimize supply chain operations, reduce costs, and minimize stockouts of essential products. Inadequate funding may lead to shortages of essential products and technologies, compromising the quality and effectiveness of healthcare services.
FSW Consulting supports the health sector to plan and budget for HPT procurement, storage, distribution and related systems strengthening, to allocate sufficient, and to monitor absorption of allocated funds within the planning period thereby enhancing their availability and accessibility to healthcare facilities and communities.
- Affordability and cccess: Health financing influences the affordability and accessibility of health products and technologies for the population. Adequate funding can subsidize the cost of health products and technologies, making them more affordable for low-income individuals and marginalized communities. Additionally, health financing mechanisms such as health insurance, subsidies, and social protection programs improve the affordability and accessibility of health commodities for vulnerable populations. By reducing out-of-pocket expenses and financial barriers to healthcare, these mechanisms enable individuals to access essential medical supplies, pharmaceuticals, and equipment.
FSW Consulting builds the capacity of the health sector leaders to promote equitable access to healthcare services and contribute to the equitable distribution of health products and technologies through Universal Health Coverage (UHC) initiatives supported by health financing.
- Technology adoption and innovation: Health financing facilitates the adoption of new and innovative health products and technologies. Countries with sufficient resources may invest in innovative medical devices, diagnostic tools, and treatment modalities to improve healthcare delivery and patient outcomes. Financing mechanisms such as research grants and subsidies can incentivize local innovation and the development of affordable technologies tailored to the needs of developing countries.
FSW Consulting builds capacity in reviewing financing mechanisms such as grants, subsidies, and public-private partnerships to promote the affordability and accessibility of innovative technologies, thereby improving healthcare delivery and patient outcomes.
- Regulatory compliance and quality assurance: Health financing enables governments to establish and enforce regulatory frameworks for the quality assurance and safety of health products and technologies. This includes setting standards, conducting product testing, and monitoring compliance with regulations to ensure that medical supplies and equipment meet established quality criteria.
FSW Consulting supports the health sector to crowd-source options of financing regulatory agencies to perform their oversight functions, thereby safeguarding public health and instilling confidence in healthcare products and technologies.
- Infrastructure development: Health financing supports the development and maintenance of healthcare infrastructure, including facilities where health products and technologies are utilized. Investments in infrastructure such as hospitals, clinics, laboratories, and pharmacies create an enabling environment for the effective delivery of healthcare services and the utilization of medical supplies and equipment.
FSW Consulting supports the health sector to effectively cost for equipping and resourcing of facilities to enhance the efficiency and effectiveness of health products and technologies systems.
- Capacity building: Health financing supports capacity building and training initiatives for healthcare workers involved in managing and utilizing health products and technologies. Funding may be allocated for training programs on the proper use and maintenance of medical equipment, as well as for continuing education on new technologies and best practices. Investing in the skills and knowledge of healthcare workers enhances the effectiveness and sustainability of health products and technologies systems.
FSW Consulting builds sector leaders’ capacity to make informed decisions from analysis of the investments and expenditures in workforce development programs, continuing education, and performance incentives that strengthen the capacity of healthcare providers to use medical equipment, administer pharmaceuticals, and deliver quality care. A well-trained and motivated workforce enhances the efficiency, safety, and effectiveness of health products and technologies systems.