Here are a few recommendations that can be considered for channelizing more CSR resources toward societal healthcare needs:
– Innovation fund: Governing bodies must create a public healthcare innovation fund to invest in ventures and projects related to (1) Med-tech, (2) Health-tech, and (3) Biotech. These dedicated pools can be utilized for creating programs and managing resource allocation across public projects, start-ups, and R&D.
– Social Impact Bonds: It should be permitted for CSR money to be invested in social impact bonds; any returns must be allowed to be recycled for future CSR commitments.
– Smart Healthcare ventures like Telemedicine Projects: Authorize all state and government projects that use technology-based innovation healthcare models to receive CSR funding.
– Create a central or state government pool funded by CSR, that can be used for viability gap funding of projects that come under PPP.
– Create Accredited Rating Agencies that can rate CSR products and projects.