Capital Impact Council

The Duke-Margolis Capital Impact Council (CIC) supports the development of strategies, tools, and frameworks to enable the private investment community to demonstrate and deliver measurable benefits for health outcomes, access, affordability, and community resilience. 

Coming in early 2026 from the Duke-Margolis Institute’s Capital Impact Council:

Health Value Evidence Quality: A Framework to Advance Private Investment That Improves Health Care and Health
Please read the executive summary of this new framework here

Independent Leadership

Duke-Margolis brings to the Council its extensive experience in convening diverse stakeholder perspectives, rigorous academic expertise, technical guidance for creating evidence-based solutions, implementing reforms effectively, and supporting better public-private collaboration in health care—all from an independent perspective. The Council is an important extension of those Duke-Margolis capabilities. It also will provide a lively community to exchange and refine ideas to enhance and advance the positive impact of private investment in health care.

Capital Impact Council Leadership & Advisors

Capital Impact Council Members

For questions/inquiries related to the Capital Impact Council, please contact:

The Need

Private investment provides critical resources that enable existing and new health care organizations to provide access to better treatments, improve outcomes, increase affordability, and strengthen communities. However, there are real and understandable public concerns about private investment activities that potentially leverage payment and regulatory policies that are not working as intended and leaving critical and urgent health reform goals unrealized. To ensure that private investments are aligned with essential health care reform goals, urgent needs and growing opportunities exist to characterize and assess the measurable impact of private investments on individual and community health, alongside assessments of financial returns.

The Council

The Duke-Margolis CIC is comprised of mission-aligned venture capital and private equity investors and Duke-Margolis Advisory Board members. The Council is dedicated to:

• advancing use of evidence and establishing best practices for achieving measurable health value improvements through private investment in health care. 
• driving the impact of private investment in health care to improve the lives of people and communities.

CIC members draw on their extensive experience and collaborations to develop and disseminate: 

• Resources and tools to assess and evaluate investment returns for health, affordability, and community resilience alongside financial returns 
  • The Council’s initial resource is “Health Value Return on Investment: A Framework to Support Private Investment that Improves Health Care and Health”
• Promising opportunities to increase investments that are more likely to lead to measurable improvements in long-term health, sustainability, and healthier communities
• Further steps to extend this approach beyond the CIC and throughout the private investment community

Independent Leadership

Duke-Margolis brings to the Council its extensive experience in convening diverse stakeholder perspectives, rigorous academic expertise, technical guidance for creating evidence-based solutions, implementing reforms effectively, and supporting better public-private collaboration in health care—all from an independent perspective. The Council is an important extension of those Duke-Margolis capabilities. It also will provide a lively community to exchange and refine ideas to enhance and advance the positive impact of private investment in health care.

The Health Value-ROI Framework 

The HV-ROI framework includes two key elements:

• HV Model and Evidence: A baseline analysis of the positive impact of a proposed investment on health value as well as its potential financial ROI, based on published literature and preliminary evidence. 
• HV Key Performance Indicators: Feasible and worthwhile metrics linked to the model that will be tracked and updated, enabling an organization to be proactive in advancing health value alongside financial ROI.

“Health value” assessment is an essential and increasingly important part of evaluating an investment’s expected financial returns. Health value assessment approaches are not yet consistently, widely, and transparently applied. Better tools and supports for assessing an investment’s expected impact on health value could help make a health value-return on investment (HV-ROI) assessment a more integral feature of investment decisions. 

CIC members are private investors leveraging their individual commitment to drive broad-based health value through testing and sharing results in their own investment activities to improve transparency and share learnings.

CIC Case Studies: Private Investments Aligned with the HV-ROI Framework

These case studies demonstrate examples of how the key elements of the HV-ROI Framework, HV Model and Evidence as well as HV-KPIs, are already being implemented in private investments in health care. Provided by our 2024 Capital Impact Council members committed to adopting the HV-ROI Framework, these examples highlight the Capital Impact Council's aim to develop and share resources to support alignment in investor and health system incentives and advance the positive impacts of private investment in health care. 

Through sharing and developing case examples, tools, metrics and analyses, we aim to strengthen and expand the use of effective health value assessments to increase the positive impact of private capital investments for patients, health care professionals, communities, entrepreneurs and investors and advance a repeatable, evolving model for this work.