The purpose of health and medical research (HMR) is to achieve better health for all Australians. Better health encompasses increased life expectancy, as well as social goals such as equity, affordability and quality of life. HMR investment supports innovation in Australia's $135bn p.a. health sector and is vital for delivering health outcomes, creating national wealth and ensuring the efﬁciency and sustainability of the health system. Implementing the following recommendations to embed HMR in the health system over the next 10 years will help deliver a wealthy and prosperous Australia that boasts the world's best and most efﬁcient health system.