Health Affairs, 24, no. 3 (2005): 652 doi: 10.1377/hlthaff.24.3.652 © 2005 by Project HOPE	New Online   Senate Health Reform Bill   Rewarding Providers   Public Option Policy Brief   Health Reform & Abortion   Delivery System Reform

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Financing

PROLOGUE

Vaccine Financing And Economics

The problem of financing vaccine development and use presents the policy community with a unique opportunity to set aside ideological preconceptions. Nowhere is it clearer that simplistic public-versus-private thinking serves no useful purpose. Evidence of market failure is pervasive. Although vaccines represent the most cost-effective class of medical therapies available, they command pitifully low prices, and the unwillingness to pay can be traced to consumers as well as to institutional purchasers. Suppliers have exited the market in droves; shortage episodes have occurred with increasing regularity. Only 10 percent of the world’s $70 billion annual spending on health research and development . . . [Full Text of this Article]

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