Financial resilience during turbulent times
- Chair: Nick Wood
- Presentation: Dr Cath Latham followed by panel discussion and Q&A
MRIs have been developing a number of innovative strategies to diversify their revenue streams and decrease their dependence on government funding in recent years. This shift has been responding to the increasing uncertainty in the funding landscape for medical research.
Last year at the AAMRI Convention we discussed different funding models and whether the MRI sector was prepared for the financial challenges that may lie on the horizon. Little did we know that just around the corner, 2020 would bring a pandemic-induced recession, emergency alterations to government research funding schemes and significant threats to non-government revenue streams for MRIs.
In this session we will first explore the pre-pandemic funding profile for the MRI sector and some of the impacts of COVID-19 on different sources of revenue. This will be followed by case studies from four medical research institutes describing their financial journey through the ups and downs of 2020. The panel will then discuss what this means for funding medical research at MRIs in 2021 and beyond.