NHS 6008 Unit 8 Discussion

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NHS 6008 Unit 8 Discussion

NHS 6008 Unit 8 Discussion

DQ1 Initiative Financing

To complete this discussion:

Select an initiative or issue in your current or desired
workplace that requires economic evaluation.

Conduct research on human resources, equipment, technology,
and other resources required for the proposed initiative.

Formulate the costs associated with the proposed initiative.

Post according to the Faculty Expectations Response
Guidelines. Remember to cite the readings, resources, and research that you
have used in the development of your post.

Response Guidelines

Respond to the posts of other learners according to the
Faculty Expectations Response Guidelines.

How do the costs associated with his or her proposed
initiative compare with yours?

DQ2 Cost Shifting

To complete this discussion:

Research cost shifting and present a definition of this
practice in your own words.

Do you think that it is a fair practice or should it be
legally banned?

Why would a change in a hospital’s variable costs change the
hospital’s profit-maximizing price?

Post according to the Faculty Expectations Response
Guidelines. Remember to cite the readings, resources, and research that you
have used in the development of your post

Response Guidelines

Respond to the posts of other learners according to the
Faculty Expectations Response Guidelines.

Select a post that differs from your own, and have a
respectful debate in which you challenge your peer’s opinions. The goal of this
debate is to further define your own opinions, not to disrespect the opinions
of others.

Depending on the type of project, PFI contracts typically last 25 to 30 years. It isn’t unusual, though, for firms to have contracts that are less than 20 or even more than 40 years. The consortium provides certain services during the period of the contract, which was previously provided by the public sector. The consortium is paid for the work over the course of the contract on a “no service, no fee” performance basis.

Firms make their money back through long-term repayments plus interest from the government. Thus, the government does not have to lay out a large sum of money at once to fund a large project.

Termination procedures are highly complex, as most projects are not able to secure private financing without assurances that the debt financing of the project will be repaid in the case of termination. In most termination cases, the public sector is required to repay the debt and take ownership of the project. In practice, termination is considered only a last resort.

Examples of PFI Projects

Many of the projects that are the subject of private finance initiatives are infrastructure projects that benefit the public sector. These include highways and roadways, transport projects such as railroads, airports, bridges, and tunnels. Private sector firms may also be contracted to construct water and wastewater facilities, prisons, public schools, arenas, and sports facilities.

NHS 6008 Unit 8 Discussion

NHS 6008 Unit 8 Discussion

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Advantages of PFIs

Governments have traditionally had to raise money on their own in order to fund public infrastructure projects. If they aren’t able to find the money, governments may also borrow from the bond market, and then hire and pay contractors to complete the job. This can often be very cumbersome, which is where the PFI comes in.

PFIs are intended to improve on-time project completion and also transfer some of the risks associated with constructing and maintaining these projects from the public sector to the private sector. Financial advisers such as investment banks help manage the bidding, negotiating, and financing processes.

PFIs also improve the relationship between the public and private sector, while providing both long-term advantages. Through this relationship, both sectors can share knowledge and resources.

Disadvantages of PFIs

A key drawback is that since the repayment terms include payments plus interest, the burden may end up being transferred to future taxpayers. In addition, the arrangements sometimes include not only construction but ongoing maintenance once the projects are complete, which further increases a project’s future cost and tax burden.

There is also a risk that private sector firms may not comply with relevant safety or quality standards when managing a project.

25 to 30 years

The length of time a typical PFI project might last, although some are shorter or longer, depending on the need.

Criticism of PFIs in the United Kingdom

In the United Kingdom in the 2000s, a scandal surrounding PFIs revealed the government was spending significantly more on these projects than they were worth to the benefit of the private firms running them and to the taxpayers’ detriment. In addition, PFIs have been criticized as an accounting gimmick to reduce the appearance of public-sector borrowing.

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