In order to tackle Kovid-19, WHO Director-General Tedros Adhanom Ghebreyesus established the "Health Economics Council for All" in 2020. The council assesses economies from the standpoint of "health for all," and its first report has been made public.
In November 2020, Ghebreyesus, who discussed the findings at a press conference held at the UN office in Geneva, called for the rethinking and implementation of economic policies in the area of health. Prof. He recalled that he had announced the formation of the Mariana Mazzucato-led Health Economics Council for All.
The council has surpassed expectations in terms of the caliber and scope of work it generates since beginning its work in early 2021. According to Ghebreyesus, the council looked at the best ways to gauge economic growth and came up with suggestions on how to finance innovation and increase the ability to offer healthcare for everyone.
Ghebreyesus touched on a few key points in the report, noting that it advises the world to stop using gross domestic product (GDP) to measure progress because this calculation does not account for the significant resources that are invested in unpaid work, which frequently serves as the foundation for economic and social activities.
"The report demands that long-term health financing be sufficient and sustainable. The Council also stresses that strong public-private partnerships are necessary for innovation to succeed, according to Ghebreyesus.
Globally, there is a substantial financial vacuum for health systems. According to Council President Mazzucato, the Kovid-19 procedure is being used efficiently to prepare the report.
Mazzucato emphasized that although it is reported that Kovid-19 has ended, the epidemic did not cease because of associated crises, adding that financial, health, and environmental issues are also tied to the epidemic.
"We are aware that there will be additional epidemics," Mazzucato remarked. For instance, as frozen soils defrost, new viruses will appear. Are we more prepared than ever for new viruses (outbreaks)? According to the council's analysis, this is false (in terms of world economies). We did not take business models and everyone's health seriously. We didn't create it, she said.
Mazzucato noted that public-private partnerships are not intended to be goal-oriented and that management structures are not created to incorporate everyone in the field of health.
There is a significant financing gap for health systems worldwide. In order to create an economy that ensures everyone has access to health care, we looked at the essential adjustments, including those to budgets, public-private partnerships, and patent structures. He remarked, "We want new economic policies to actively and cooperatively shape markets.
The research claims that in order to guarantee health for everyone, government capacity must be reinvested in, as well as a new ecosystem of health innovations that prioritizes the general good and has more funding.