Speedy decision funding

The R21 program is designed to support high-risk, high-reward, rapid-turnaround, proof-of-concept research. This is in part due to the fact that its application and review process is known to be only slightly less burdensome than the R01, despite providing less than half of the financial and temporal support.

Therefore, reforming the application and peer review process for the R21 program to make it a fast grant—style award would both bring it more in line with its own goals and potentially make it more attractive to applicants. All ICs follow identical yearly cycles for major grant programs like the R21, and the CSR centrally manages the peer review process for these grant applications.

Thus, changes to the R21 grant review process must be spearheaded by the NIH director and coordinated in a centralized manner with all parties involved in the review process: the CSR, program directors and managers at the ICs, and the advisory councils at the ICs.

The track record of federal and private fast funding initiatives demonstrates that faster funding timelines can be feasible and successful see FAQ. Among the key learnings and observations of public efforts that the NIH could implement are:. Pending the success of these changes, the NIH should consider applying similar changes to other major research grant programs.

Approach 2. Direct NIH institutes and centers to independently develop and deploy programs with faster funding timelines using Other Transaction Authority OTA.

Compared to reforming an existing mechanism, the creation of institute-specific fast funding programs would allow for context-specific implementation and cross-institute comparison. This could be accomplished using OTA—the same authority used by the NIH to implement COVID response programs.

Since , all ICs at the NIH have had this authority and may implement programs using OTA with approval from the director of NIH, though many have yet to make use of it. As discussed previously, the NIA, NIDA, and NIAID would be prime candidates for the roll-out of faster funding.

To maintain this focus, these programs could restrict investigator-initiated applications and only issue funding opportunity announcements for areas of pressing need.

To enable faster peer review of applications, ICs should establish a new study section s within their Scientific Review Branch dedicated to rapid review, similar to how the RADx program had its own dedicated review committees.

Reviewers who join these study sections would commit to short meetings on a monthly or bimonthly basis rather than meeting three times a year for one to two days as traditional study sections do.

Additionally, as recommended above, these new programs should have a three-page limit on applications to reduce the administrative burden on both applicants and reviewers.

In this framework, we propose that the ICs be encouraged to direct at least one percent of their budget to establish new research programs with faster funding processes. We believe that even one percent of the annual budget is sufficient to launch initial fast grant programs funded through National Institutes.

NIH ICs should develop success criteria in advance of launching new fast funding programs. If the success criteria are met, they should gradually increase the budget and expand the scope of the program by allowing for investigator-initiated applications, making it a real alternative to R01 grants.

In the spirit of fast grants, we recommend setting a deadline on how long each institute can take to establish a fast grants program to ensure that the process does not extend for too many years.

Additional recommendation. Congress should initiate a Government Accountability Office report to illuminate the outcomes and learnings of governmental fast funding programs during COVID, such as RADx. Illuminating the learnings of these interventions would greatly benefit future emergency fast funding programs.

The NIH should become a reliable agent for quickly mobilizing funding to address emergencies and accelerating solutions for longer-term pressing issues. As present, no funding mechanisms within NIH or its branch institutes enable them to react to such matters rapidly. However, both public and governmental initiatives show that fast funding programs are not only possible but can also be extremely successful.

Given this, we propose the creation of permanent fast grants programs within the NIH and its institutes based on learnings from past initiatives. The changes proposed here are part of a larger effort from the scientific community to modernize and accelerate research funding across the U.

In the current climate of rapidly advancing technology and increasing global challenges, it is more important than ever for U.

agencies to stay at the forefront of science and innovation. A fast funding mechanism would enable the NIH to be more agile and responsive to the needs of the scientific community and would greatly benefit the public through the advancement of human health and safety.

The NIH released a number of Notices of Special Interest to allow emergency revision to existing grants e. Unfortunately, repurposing existing grants reportedly took several months , significantly delaying impactful research. The current scientific review process in NIH involves multiple stakeholders.

There are two stages of review at NIH, with the first stage being conducted by a Scientific Review Group that consists primarily of nonfederal scientists. Typically, Center for Scientific Review committees meet three times a year for one or two days. This way, the initial review starts only four months after the proposal submission.

Special Emphasis Panel meetings that are not recurring take even longer due to panel recruitment and scheduling. The Institute and Center National Advisory Councils or Boards are responsible for the second stage of review, which usually happens after revision and appeals, taking the total timeline to approximately a year.

A few more recent studies have found modest associations between NIH peer review scores and research impact, suggesting that peer review may indeed successfully identify innovative projects. However, such a relationship still falls short of demonstrating that the current model of grant review reliably leads to better funding outcomes than alternative models.

Additionally, some studies have demonstrated that the current model leads to variable and conservative assessments.

Taken together, we think that experimentation with models of peer review that are less burdensome for applicants and reviewers is warranted. Intuitively, it seems that having longer grant applications and longer review processes ensures that both researchers and reviewers expend great effort to address pitfalls and failure modes before research starts.

However, systematic reviews of the literature have found that reducing the length and complexity of applications has minimal effects on funding decisions, suggesting that the quality of resulting science is unlikely to be affected.

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How To Make Fast Decisions with Limited Data - LinkedIn Founder Reid Hoffman

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Funds are then delivered within 24 hours. The company has served over 1, clients. First, the pre-settlement funding company is reimbursed to the amount it advanced to you, as well as fees and interest that were outlined in your cash advance agreement.

Then the settlement funds are used to pay off any outstanding medical liens if your case was a personal injury lawsuit that required medical attention. After all of those parties are reimbursed, you receive the remaining funds from your lawyer for your own use. Not all lawsuit funding companies operate in the same manner.

Here are the most important factors to review as you make your decision. When researching your options, determine whether the company is a broker or a direct funder. A broker evaluates offers from multiple funders to provide you with options.

The downside is that they charge a fee for this service. You can avoid those extra costs by working with a direct funder, but you do need to compare options on your own to find the best fit.

All lawsuit loan companies charge some type of interest on a settlement cash advance. Interest rates vary from case to case, depending on the details specific to your situation. The riskier the outcome of your case, the higher interest rate is charged. This is where it may be good to compare more than one option, since not all companies calculate interest in the same way.

There are two ways in which a lawsuit loan company can charge interest: simple or compounding. With simple interest, any interest charged only applies to the original advance amount.

With compounding interest, the interest is charged to the total outstanding balance — including interest that previously accrued. Some companies may charge additional fees on top of interest, such as an application fee to review your case or a processing fee once you sign the agreement.

You may also be charged a wire transfer fee by your bank when you receive the cash advance fund. Ask the pre-settlement funding company about these details before you accept an offer.

Most pre-settlement funding companies offer non-recourse financing. That means you are not obligated to repay the loan if you lose your case.

Is lawsuit funding right for you? Weigh the advantages and disadvantages to help you make a decision. Shop around to get quotes from multiple legal funding companies.

Some charge higher interest rates than others or give unfavorable terms, like compounding interest. Yes, most lawsuit loan companies will require that you have a lawyer representing you. This allows them to get an expert opinion on your case and determine how much to advance you based on your expected settlement.

But most people use the money to pay medical bills, their mortgage, or living expenses that have been impacted due to the event surrounding the lawsuit. It varies based on the funding company. However, common cases include personal injury, medical malpractice, premise liability, wrongful death, employment discrimination, and product liability.

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Receive your funds fast and secure. New disease treatments may help, but it often takes years to translate the results of basic research into approved drugs. The idiosyncrasies of drug discovery and clinical trials make them difficult to accelerate at scale, but we can reliably accelerate drug timelines on the front end by reducing the time researchers spend in writing and reviewing grants—potentially easing the long-term stress on U.

The existing science funding system developed over time with the best intentions, but for a variety of reasons—partly because the supply of federal dollars has not kept up with demand—administrative requirements have become a major challenge for many researchers.

In addition, the wait for funding can be extensive: one of the major NIH grants, R01, takes more than three months to write and around 8—20 months to receive see FAQ. Even proof-of-concept ideas face onerous review processes and take at least a year to fund.

This can bottleneck potentially transformative ideas, as with Katalin Kariko famously struggling to get funding for her breakthrough mRNA vaccine work when it was at its early stages. These issues have been of interest for science policymakers for more than two decades, but with little to show for it.

Though several nongovernmental organizations have attempted to address this need, the model of private citizens continuously fundraising to enable fast science is neither sustainable nor substantial enough compared to the impact of the NIH. We believe that a coordinated governmental effort is needed to revitalize American research productivity and ensure a prompt response to national—and international—health challenges like naturally occurring pandemics and imminent demographic pressure from age-related diseases.

The new NIH director has an opportunity to take bold action by making faster funding programs a priority under their leadership and a keystone of their legacy. In addition to the aforementioned RADx program at NIH, the National Science Foundation NSF runs the Early-Concept Grants for Exploratory Research EAGER and Rapid Response Research RAPID programs, which can have response times in a matter of weeks.

Going back further in history, during World War II, the National Defense Research Committee maintained a one-week review process. Faster grant review processes can be either integrated into existing grant programs or rolled out by institutes in temporary grant initiatives responding to pressing needs, as the RADx program was.

For example, when faced with data falsification around the beta amyloid hypothesis , the National Institute of Aging NIA could leverage fast grant review infrastructure to quickly fund replication studies for key papers, without waiting for the next funding cycle.

In case of threats to human health due to toxins , the National Institute of Environmental Health Sciences NIEHS could rapidly fund studies on risk assessment and prevention, giving public evidence-based recommendations with no delay.

Finally, empowering the National Institute of Allergy and Infectious Diseases NIAID to quickly fund science would prepare us for many yet-to-come pandemics.

The NIH is a decentralized organization, with institutes and centers ICs that each have their own mission and focus areas. While the NIH Office of the Director sets general policies and guidelines for research grants, individual ICs have the authority to create their own grant programs and define their goals and scope.

The Center for Scientific Review CSR is responsible for the peer review process used to review grants across the NIH and recently published new guidelines to simplify the review criteria.

Given this organizational structure, we propose that the NIH Office of the Director, particularly the Office of Extramural Research, assess opportunities for both NIH-wide and institute-specific fast funding mechanisms and direct the CSR, institutes, and centers to produce proposed plans for fast funding mechanisms within one year.

Approach 1. The R21 program is designed to support high-risk, high-reward, rapid-turnaround, proof-of-concept research. This is in part due to the fact that its application and review process is known to be only slightly less burdensome than the R01, despite providing less than half of the financial and temporal support.

Therefore, reforming the application and peer review process for the R21 program to make it a fast grant—style award would both bring it more in line with its own goals and potentially make it more attractive to applicants. All ICs follow identical yearly cycles for major grant programs like the R21, and the CSR centrally manages the peer review process for these grant applications.

Thus, changes to the R21 grant review process must be spearheaded by the NIH director and coordinated in a centralized manner with all parties involved in the review process: the CSR, program directors and managers at the ICs, and the advisory councils at the ICs.

The track record of federal and private fast funding initiatives demonstrates that faster funding timelines can be feasible and successful see FAQ. Among the key learnings and observations of public efforts that the NIH could implement are:. Pending the success of these changes, the NIH should consider applying similar changes to other major research grant programs.

Approach 2. Direct NIH institutes and centers to independently develop and deploy programs with faster funding timelines using Other Transaction Authority OTA. Compared to reforming an existing mechanism, the creation of institute-specific fast funding programs would allow for context-specific implementation and cross-institute comparison.

This could be accomplished using OTA—the same authority used by the NIH to implement COVID response programs. Since , all ICs at the NIH have had this authority and may implement programs using OTA with approval from the director of NIH, though many have yet to make use of it.

As discussed previously, the NIA, NIDA, and NIAID would be prime candidates for the roll-out of faster funding. To maintain this focus, these programs could restrict investigator-initiated applications and only issue funding opportunity announcements for areas of pressing need.

To enable faster peer review of applications, ICs should establish a new study section s within their Scientific Review Branch dedicated to rapid review, similar to how the RADx program had its own dedicated review committees.

Reviewers who join these study sections would commit to short meetings on a monthly or bimonthly basis rather than meeting three times a year for one to two days as traditional study sections do.

Additionally, as recommended above, these new programs should have a three-page limit on applications to reduce the administrative burden on both applicants and reviewers. In this framework, we propose that the ICs be encouraged to direct at least one percent of their budget to establish new research programs with faster funding processes.

We believe that even one percent of the annual budget is sufficient to launch initial fast grant programs funded through National Institutes.

NIH ICs should develop success criteria in advance of launching new fast funding programs. If the success criteria are met, they should gradually increase the budget and expand the scope of the program by allowing for investigator-initiated applications, making it a real alternative to R01 grants.

In the spirit of fast grants, we recommend setting a deadline on how long each institute can take to establish a fast grants program to ensure that the process does not extend for too many years. Additional recommendation. Congress should initiate a Government Accountability Office report to illuminate the outcomes and learnings of governmental fast funding programs during COVID, such as RADx.

Illuminating the learnings of these interventions would greatly benefit future emergency fast funding programs. The NIH should become a reliable agent for quickly mobilizing funding to address emergencies and accelerating solutions for longer-term pressing issues.

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