Evaluation of the NIHR Biomedical Research Centres and Units

This document describes a comprehensive evaluation of various aspects of medical research funding and its economic impact, as well as the accounting treatment of R&D expenditures. The Partnership for Responsive Policy Analysis and Research (PREPARE) is assessed for its rapid-response analysis aimed at informing policy development, with a focus on the economic value of health benefits and regional impacts of funding from the NIHR. The evaluation reveals a high rate of return on NIHR investment and the potential for attracting additional funds, but also notes geographic inequalities and methodological concerns. It emphasizes the importance of a balanced approach to research investment and recommends improved monitoring of Biomedical Research Centres (BRCs). The economic impact of medical research funding is shown to be significant, with a 17% rate of return excluding health gains and a 58% combined internal rate of return when considering economic outputs like employment. The document also addresses the time lags in drug and device development, suggesting that reducing these lags is essential for maximizing returns on investment. Finally, the evaluation compares the accounting treatments of R&D expenditures across different standards, highlighting the implications for asset valuation and profit reporting, with specific references to IAS, GAAP, and standards for the NHS and universities. **This summary was written by an AI model and therefore should not be considered a definitive summary of the report. If you are aware of inaccuracies, please email evaluation.registry@cabinetoffice.gov.uk.**

Description

• Lead department: National Institute for Health and Care Research
• Evaluation stage: A complete evaluation report
• Other departments: No other departments listed
• Evaluation types: Value for money evaluation; Process evaluation
• Process methods: Other
• Value for money methods: Other
• Grant information: This intervention is not distributing funding via a grant
• Government Major Project information: This intervention is not a major project
• Policies: No policies provided

Event Dates

• Event Name: Publication of final results
• Event date: August 2020

Evaluation Costs

• Cost: Not provided

Evaluation sharing

• Link(s) to published report(s): Yes
• Links to evaluation plans: No link provided
• Links to published evaluations (DEBUGGING): No final report link found.
• Findings: Not provided
• Permission to share confirmed: Yes