By Laura Lee, Chief Representative – HK & ASEAN, The Fred Hollows Foundation
At The Fred Hollows Foundation, we’ve always understood that investing in eye health transforms lives. Over the past 30 years, we’ve restored sight to more than 3 million people.
Now we have the data that demonstrates what we know.
The Fred Hollows Foundation has released a ground breaking report in partnership with Victoria University’s Institute of Strategic Economic Studies, that outlines the economic benefits of investing in eye health. The report, which used an investment case economic modelling technique, estimates the return on investment (ROI) in eye health to achieve the World Health Assembly (WHA) targets by 2030. The results show that investments in eye health are among the highest ROI of any disease intervention.
The report focuses on the two leading causes of blindness and vision impairment – cataract and refractive error – and models intervention costs and benefits across 19 countries in which The Foundation works. The benefits of restoring sight, which in this report focus solely on economic returns, include increased labour force participation and productivity, and improved education and learning.
Despite a dramatic economic upturn in recent years, the burden of blindness and vision impairment is still significantly high in the Southeast Asia region, accounting for 31% of the world’s blind. That’s why it is time to step up our investment in eye health in Southeast Asia. When we look at the findings from Southeast Asia, the estimated ROI for cataract treatment on average returns 22.4. Refractive error treatments return on average US$11.8 for myopia (nearsightedness) and US$8.4 for presbyopia (age-related vision loss). Together, investment in the two leading causes of blindness and vision impairment will return on average US$10.4 for each dollar spent in Southeast Asia.
This demonstrates what we all know – that investment in eye care has a great return.
In Cambodia, where The Foundation has been actively working in since 1998, over 90% of blindness cases are preventable and primarily caused by cataract. Unfortunately, many people either lack the financial means to undergo the necessary surgery or are unaware of the available options. There is an ongoing need to address the challenges surrounding eye health in Cambodia, and increased investments in this area can provide a viable solution. Notably, cataract surgery in Cambodia demonstrates an estimated ROI of US$22.6, while the estimated ROIs for myopia treatment and presbyopia treatment are US$4.5 and US$3.0, respectively.
The findings provide a compelling case for impact and social investment networks to invest in eye health in Southeast Asia. Beyond the great economic return that investment in eye care yields, restored sight brings longer and healthier lives, reductions in extreme poverty, increased labour force participation and productivity, increased school attendance, gender equality and independence. Investing in eye health not only benefits individuals but also has a positive impact on communities and the region’s economic development.
Contact The Fred Hollows Foundation to get more information on the economic benefits of investing in eye health and explore how your organisation can contribute to eye health development.
About The Fred Hollow Foundation
The Fred Hollows Foundation has been a key leader in advocating and promoting the need to prioritise eye health investments. The Foundation’s transformative approach to eye health, which includes strengthening health systems and partnerships with governments, local partners and other stakeholders, has been a key driver of our success in restoring sight over 3 million people worldwide. These partnerships have been critical in ensuring that eye health programs are sustainable and have a lasting impact.
The Fred Hollows Foundation is committed to ending avoidable blindness, but we can’t do it alone. Urgent collective action is needed across government, non-government, philanthropy and the private sector to prioritise health system investments to meet the 2030 global eye care targets. If we don’t act now, by 2050 it is estimated that more than 1.7 billion people will be living with avoidable vision impairment.
Eye health programs transform lives and now is the time to step up our investment in eye health.
We welcome corporate partners who are interested in investing in eye health to get in touch with us. Visit our website at www.hollows.org if you are interested to find out more or contact Laura Lee at llee@hollows.org.
Fast facts:
- Globally, 43 million people around the world are blind and at least 1 billion people have untreated or preventable vision impairment.
- Without urgent action, 1.7 billion people are forecast to be living with avoidable vision impairment by 2050.
- Every $1 USD invested in treating cataract delivers an economic return of $20.50 USD.
- Every $1 USD invested in treating myopia delivers an economic return of $10.80 USD.
- Every $1 USD invested in treating presbyopia delivers an economic return of $8 USD.
- Every $1 USD invested in tackling the two leading causes of blindness in the world delivers an economic return of $9.40 USD.
- World Health Organisation 2030 eye health targets – a 40% increase in refractive error coverage and 30% increase in cataract surgery coverage – are in danger of being missed without greater global investment.
Laura Lee, Chief Representative – HK and ASEAN
Laura joined The Fred Hollows Foundation in April 2018 as Chief Representative for HK & ASEAN; and has over 20 years’ experience working in the humanitarian and development sector. With a background in law, Laura has worked in both frontline aid as well as in business development roles for non-profits including Medecins Sans Frontieres (Doctors Without Borders) and the United Nations High Commissioner for Refugees. She has extensive experience across APAC, having worked in Hong Kong, Malaysia, Thailand, Papua New Guinea, Afghanistan and Singapore. Directly prior to joining The Fred Hollows Foundation, she worked as a Senior Philanthropy Advisor for Credit Suisse, helping private banking clients establish and design CSR and philanthropic giving programs.