Social Investment: How Janssen is Playing an Active Role and Contributing to the Cause
One of the areas I’m most proud of as Managing Director of Jansen Australia and New Zealand is our commitment to contributing to communities beyond the obvious provision of innovative medicines.
We know that treating disease is more than that. Innovation spans beyond the lab, and into society and the communities in which we live and work.
Social investment is a progressive means of shifting the dial in the provision of services for people with complex needs, who in many cases are living with life-long illness or disease.
Mental health is a clear case in point. It’s been an area of focus for us since the company was founded by Dr Paul Janssen in 1953.
During that time, we’ve contributed to a number of initiatives designed to improve how patients living with mental health issues are managed and we continue to play an active role in holistic care approaches, working collaboratively and across sectors to better address patient needs.
Most recently, we were the first healthcare company to support New Zealand’s pioneering Social Impact Bond pilot, which aligns with the New Zealand (NZ) Government’s social investment approach.
Social Impact Bonds are essentially a novel way for Government to contract for social outcomes.
A financial incentive is offered to providers and investors if they can achieve a result through service provision in a manner that is demonstrably better than what has been previously achieved. If they achieve the agreed results Government pays the investors back their investment plus a return, dependent on the level of results.
It aligns perfectly with commitment to delivery of value and our appetite for innovation in all we do. It also aligns with Our Credo which encourages us to serve our community.
The scheme kicked off with a set task to assist 1,700 people with mental illness to gain employment.
An established service provider, APM Workforce, was selected to place and track pilot participants and an outcome-based contract was set.
APM Workforce has a solid track record of using a supported employment approach in Australia and New Zealand to help people with mental health concerns find work in accordance with their choices and capabilities. It’s an approach that promotes rapid placement into competitive work at market wages, provides 'real world' training, and integrates vocational and mental health supports to build skills, resilience and work capacity.
The pilot bond will run over a six-year period with a total NZD$1.5 million investment.
Tackling mental health is a huge challenge in New Zealand as in many parts of the world and one that Governments have struggled with for a long time.
It’s why collaborative, innovative and multi-disciplinary care approaches are so crucial.
We are proud to take part in and support initiatives that have the potential to transform the way healthcare is delivered and funded in New Zealand and elsewhere and I believe this scheme has the potential to do so.
The success of this pilot will ultimately be a testament to our belief in the power of collaborating with the world for the health of everyone in it, both in the medical sciences sphere but ultimately in this instance, social service delivery.
I look forward to sharing updates and insights from the program as we progress.