In the realms of health spending - $560,000 is a drop in the ocean.
But the amount is expected to go a long way in improving the health outcomes of Northern Tasmanians.
On Thursday, the Clifford Craig Foundation revealed its annual line-up of medical research grants.
In 2020 alone, more than $560,000 will be allocated to a diverse field of research projects - all led by brilliant and innovative minds based here, in the state's North and North-West.
It can be easy to forget, or not realise, the incredible work carried out in our hospitals every day.
Bad news often travels faster, and further, than good news. But the value medical research plays in ultimately delivering better outcomes cannot be underestimated.
And with some of the worst health outcomes in Australia, it's reassuring to know that Tasmania is leading the country - and in some parts the world - when it comes to groundbreaking research.
As well as positive health outcomes, investing in research can lead to better economic outcomes and ultimately, much-needed savings in the health system.
Just one recent example of this was the success of Launceston General Hospital physiotherapist Ianthe Boden, whose Clifford Craig-funded research went on to receive the renowned PEDro' prize for best trial at the World Confederation of Physical Therapy Congress in Switzerland.
Along with putting the LGH on the world stage, the findings from Ms Boden's research - exploring how physiotherapy could be used to improve patient recovery after emergency abdominal surgery - are expected to save the health system around half a million dollars a year in hospital costs.
As pointed out by Clifford Craig Foundation chief executive Peter Milne, supporting medical research is key to attracting and retaining specialists to our state.
World-renowned infectious disease specialist Katie Flanagan and newly appointed neurologist Dr Matt Lee Archer are just two examples of this.
Like progress in any field, medical research takes time and its results are often not felt for years.
But investing in research is in-line with the long-term thinking we need to be taking when it comes to improving health outcomes and health system.