This bill establishes within the Department of Health and Human Services (HHS) the Advanced Research Projects Agency-Health to accelerate health and medical innovation by investing in high-risk, high-reward research. The bill also establishes a committee to advise on agency activities.

HHS must transfer all authorities, functions, funds, and personnel from a similar entity within the National Institutes of Health to a new, independent agency.

Additionally, the President must appoint a director to lead the agency. The director may submit testimony and recommendations concerning the agency to Congress without review or approval by other federal officers or agencies.

The director must appoint personnel to administer the agency's research programs, including by selecting projects to support and making recommendations about terminating or continuing projects.

The agency may use grants, prize competitions, and a variety of other mechanisms to support the research projects. The agency's budget is separate from that of HHS.

The agency must coordinate with the Food and Drug Administration and the Centers for Medicare & Medicaid Services to expedite development and coverage of high-need cures. Additionally, the agency may partner with other public and private entities (e.g., institutions of higher education and patient advocacy organizations).

The bill also requires the agency to develop and periodically update a strategic plan and annually report on its activities. Furthermore, (1) the National Academies of Sciences, Engineering, and Medicine must evaluate the agency's performance; and (2) the Government Accountability Office must review the research portfolio of HHS and its components, including the new agency.

This bill establishes within the Department of Health and Human Services (HHS) the Advanced Research Projects Agency-Health to accelerate health and medical innovation by investing in high-risk, high-reward research. The bill also establishes a committee to advise on agency activities.

HHS must transfer all authorities, functions, funds, and personnel from a similar entity within the National Institutes of Health to a new, independent agency.

Additionally, the President must appoint a director to lead the agency. The director may submit testimony and recommendations concerning the agency to Congress without review or approval by other federal officers or agencies.

The director must appoint personnel to administer the agency's research programs, including by selecting projects to support and making recommendations about terminating or continuing projects.

The agency may use grants, prize competitions, and a variety of other mechanisms to support the research projects. The agency's budget is separate from that of HHS.

The agency must coordinate with the Food and Drug Administration and the Centers for Medicare & Medicaid Services to expedite development and coverage of high-need cures. Additionally, the agency may partner with other public and private entities (e.g., institutions of higher education and patient advocacy organizations).

The bill also requires the agency to develop and periodically update a strategic plan and annually report on its activities. Furthermore, (1) the National Academies of Sciences, Engineering, and Medicine must evaluate the agency's performance; and (2) the Government Accountability Office must review the research portfolio of HHS and its components, including the new agency.

This bill establishes within the Department of Health and Human Services (HHS) the Advanced Research Projects Agency-Health to accelerate innovation in health and medicine by investing in high-risk, high-reward research projects. The bill also establishes an interagency committee to inform, and a fund in the Treasury to support, the agency's activities.

The director must designate personnel to serve as program managers who administer the agency's research programs, including by selecting projects to support, setting progress milestones for projects, and making recommendations about terminating or continuing projects.

The agency may use a variety of mechanisms to support the research projects, including grants, contracts, and prize competitions. The agency's budget is separate from that of HHS.

The agency must coordinate with the Food and Drug Administration and the Centers for Medicare & Medicaid Services to expedite development and coverage of high-need cures. Additionally, the agency may partner with other public and private entities, such as institutions of higher education and patient advocacy organizations.

The bill also requires the agency to develop and periodically update a strategic plan and annually report on its activities. Furthermore, the National Academies of Sciences, Engineering, and Medicine must evaluate the agency's performance.