It’s an incentive for developers of health technology for individuals and entities to use their research and technology development to fund and fund their own health technology development. This would increase the amount of funding used in the commercial sector if health care can be improved. These funds can be used for:
Investing in clinical trials
Supportive measures
Developing and testing new products
Developing the clinical and pre-clinical processes that lead to new product development
Building new infrastructure
Building and improving health care systems
Incentive grants can only be purchased in amounts of $5,000 per grant for non-commercial purposes. If a commercial company wants to bid on a grant, it has to have a “merit-based agreement with a health technology organization” (a nonprofit organization) that provides the application, and it has to use the grant proceeds “to meet their obligations under the grant.”
“Merit-based” means the health technology organization needs a “merit-based plan to use these grant funds. Merit-based plans must meet the following requirements:
The organization must provide specific and reliable assurances that the grant resources will be used for the purposes specified by the recipient. This assurance may be in the form of a “letter of guarantee” from any source (such as the U.S. Department of Agriculture); written assurance that the organization is not planning or doing anything to make it difficult or impractical for the recipient to attain a particular goal; and assurance that the organization will take appropriate steps to facilitate an informed decision by the recipient that the funds will be used in a proper manner; (See Example below.)
Each recipient has to sign a contract to certify to the organization’s satisfaction that his or her specific goal is met and that the funds will be used for the purposes indicated, including a commitment by the organization to use these funds “in a true and proper manner,” “with due regard for” the recipient’s “personal needs,” and to “considering appropriate alternatives to achieve the intended result, including alternative uses of public funds. ”
“The recipient will “not take adverse action” or permit someone else “to take adverse action” in connection with the acquisition, and will comply with all other conditions set forth by federal agencies as well as the terms and conditions of the plan. ”
An example of a “merit-based” plan is the Rural Health Initiative, in which hospitals are awarded $500 million in a public-private partnership with
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