Bridging the divide between health economics and outcomes research and biomedical investment: reflections from a health economist working in venture capital

Despite investors' pivotal role in shaping biomedical innovation, interaction between the investment community and health economics and outcomes research professionals remains limited. Both communities seek to understand what society values and how to allocate resources accordingly, yet these conversations occur largely in parallel. This perspective article, written from the viewpoint of a health economist who joined a major biomedical investment firm, seeks to bridge that divide. Drawing on first-hand observations across three domains - profits, incentives and societal value; coverage, pricing and patient access; and public policy and innovation - it argues that health economics and outcomes research must reconnect with its economic foundations, incorporate insights from real-world investment practice, and update its methods to better inform policy, promote innovation and improve patient welfare in a market-based system.