Private Sector Becoming More Involved In Efforts To Reach Global Health Development Goals
In a post in the Guardian’s “Sustainable Business” blog, Lisa Herman, managing director of the global health practice area at consulting firm FSG, and Mike Stamp, a senior consultant with FSG, discuss “a new guide for companies on how to participate in global action on women and children’s health” recently launched at the London Family Planning Summit. “The guide, co-authored by social impact consultants FSG and sponsored by the Innovation Working Group in support of the global Every Woman, Every Child effort, sets out concrete opportunities for companies from many different industries to contribute to improving women and children’s health,” they write.
Companies are beginning to see a role for the private sector in reaching health-related development goals “for three principal reasons,” they state. First, health spending is growing faster than GDP in many countries, creating a situation in which “it is becoming possible for companies to make an active contribution in areas and among populations that were previously seen as out of reach for the private sector,” they write. “Second, companies are finding ways to create shared value in women and children’s health through product and business model innovations, and targeted investments in health systems,” Herman and Stamp state, adding, “Third, partnerships are essential for success.” They conclude, “Separately, each of these observations point to new opportunities for business to address unmet health needs. Together, they present an opportunity to transform health care provision for millions of women and children” (8/7).