The Need for Vaccine Insurance Funds to regain Skeptics' confidence
Someone very dear has shared some of these stories with me, and I feel it is important to share them here, for the general reader to understand the general context in which some come to be suspicious of vaccines, and why their hesitation must not be dismissed in the scientific community and in news reports as the behavior of cranks, unenlightened luddites or otherwise backward minds. The example here, from NPR, about Why Chinese Parents Don't Necessarily Trust Childhood Vaccines is a perfect illustration.
Because when such concerns are dismissed out of hand, that is when uncooperative or violent behavior takes root, as happened regrettably, recently in Pakistan, out of frustration with established public or medical authorities.
Mistakes happen, that is true. But failing to fairly acknowledge responsibilities for those only make bad situations worse. In particular, developing institutional structures that facilitate the care and just financial compensation for those who have been unjustly victimized is perhaps, one of the only ways to compassionately and justly moving forward.
If those who are adversely affected by the polio vaccine, or any other, why not create Insurance funds, whose premium are funded the supplier of vaccines, that would provide compensation to those adversely affected?
How would such a fund work? Well, if every vaccine that is sold is taxed a tyny amount that is deposited in a specially established fund, the fund would end up being more than adequately funded.
When an allegation of vaccine induce illness is alleged, the claim would be reviewed, and if found to be credible, the victim would promptly receive just compensation from the fund. THese funds can be established both locally or globally, or in a scheme that combines both.
In financial risk management, what we have here is what is known as the fallacies of Value-at-Risk (VAR) risk management. Value at Risk is a risk management concept which aims at quantifying maximum value at Risk within given confidence levels. In this scenario proper risk management proper risk management sets limits on VAR, and account manger must maximize value with set VAR limits. For example a portfolio manager may be given 99% VAR of one million dollars. That means that the portfolio manager must maximize the return on their portfolio while limiting the risk in their position so that maximum amount they can loose a maximum of one million dollars with a probability no less than 99%.
In vaccine risk management, the underlying argument is that vaccine work and save millions of lives in more than 99% of cases, therefore they should be mandatory and beyond criticism. The problem with that analytical framework is the same as that happened with all those who swore by VAR based risk management. Sooner enough, the discounted one patient risky scenario occurred, leading to financial crises and serial bankruptcies such as what happened in 1987, and more recently with the great recession of 2008-2009.
What we speak of here is the discounted one percent scenario on vaccines that bankrupts and lead to systemic
Also, other related stories:
Is it the end for polio as a new vaccine is introduced? :http://www.bbc.co.uk/news/health-36076991
Vaccine switched in 'milestone' towards ending polio - http://www.bbc.co.uk/news/health-36055507
History of polio - http://www.bbc.co.uk/news/health-17045202
NPR Story on China: http://www.npr.org/sections/goatsandsoda/2016/04/25/475629964/why-chinese-parents-dont-necessarily-trust-childhood-vaccines?sc=tw
Post Polio syndrome is mainly characterized by new weakening in muscles that were previously affected by the polio infection. Some basic researchers are studying the behavior of motor neurons many years after a polio attack. Some patients experience only minor Post Polio Syndrome Symptoms, While less common, others may develop visible muscle atrophy, or wasting.
ReplyDeletehttp://www.herbs-solutions-by-nature.com/Post-Polio-Syndrome.php