Fair Market Value (FMV) Guidance is now available to bring consistency to reimbursement for cross-sector partnership work. See FMV Guidance.
This new guidance makes five key recommendations:
Full cost-recovery to support charity sustainability.
Minimum entry point of £100/€120 per hour for the work of charities.
Equity of payment with healthcare professionals where this is higher than the Patient Focused Medicines Development rate.
Market value add-on costs which take into account the intangible ‘brand’ benefits of partnering.
Fair contracting with FMV rates set from the start and 30-day payment terms.
This guidance is a collaborative effort. Cancer52 worked on this guidance with the Charities Research Involvement Group, HRCI - Health Research Charities Ireland, the National Rheumatoid Arthritis Society (NRAS) and the Patient Information Forum (PIF).
These recommendations have already been endorsed by Asthma + Lung UK, Breakthrough Cancer Research, Cleft Lip and Palate Association (CLAPA), Debra Ireland, Irish Heart Foundation, Irish Lung Fibrosis Association, Maynooth University and the NIHR (National Institute for Health and Care Research).
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