2,409 results on '"Value for money"'
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102. Value for money evaluation for conversion of highway stock project from BT model to PPP model based on improved risk quantification method.
- Author
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Jiali, Jiang and Jun, Wang
- Abstract
With the accelerated urbanization progress, the governmental financial funds fail to satisfy the needs of highway project construction in some areas. The building-transfer (BT) model and public-private partnership (PPP) model have been carried out in succession in China to solve the shortage of financial funds. However, the emotion analysis method in Guide of Value for Money Evaluation for PPP Project (trial) enacted by the Ministry of Finance is of great subjectivity when applied to the calculation of risk quantification, which is the key to quantitative evaluation, so it is in urgent need of perfection through scientific methods to promote the implementation of PPP projects. On this basis, under the research background of conversion of a highway stock project from BT model to PPP model in city Z, the fuzzy analytic hierarchy process (HAHP) and set-valued statistics method were applied to the method improvement for the risk quantification part of value for money (VFM) evaluation cases in this project. The results show that the VFM (calculated based on the improved risk quantification method) of the BT-to-PPP model for the highway stock project in city Z is elevated from the original 248,240,000 RMB to 271,643,500 RMB. The conclusions can provide a certain reference basis for further improving China’s VFM evaluation system, and boosting the development of PPP model in China. [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
- View/download PDF
103. Visitor characteristics matter: how the positive impact of visit duration on visitor satisfaction at visitor attractions is moderated.
- Author
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Faerber, Lea Susanne, Ahrholdt, Dennis C., Schnittka, Oliver, and Rezvani, Zeinab
- Abstract
Within the tourism industry is customer satisfaction creation crucial for companies' success. As visitor attractions are operating in the highly relevant and competitive tourism industry, satisfaction generation for their visitors is a key to success and a competitive advantage. To positively affect visitor satisfaction (VS), existing research mostly suggest increasing visit durations (VD) (i.e., a positive effect of VD on VS). However, contrary findings also appeared; thus, it remains unclear why and under which conditions the positive effect occurs and is leveraged or weakened. This study empirically analyses moderating and mediating effects on the VD-VS association using a visitor survey. Visitors' previous experience with other related visitor attractions, importance of recommendations by others to the visitation decision, and visitors' personal life satisfaction were included as moderating variables, value for money was added as the mediating variable. Results indicate that the VD–VS association is strengthened, with higher levels of visitors' previous experience with other related visitor attractions, with decreasing levels of importance of recommendations by others to the visitation decision, and with decreasing levels of visitors' personal life satisfaction. Moreover, value for money mediates the effect of visit duration on visitor satisfaction. As such, this study provides practical insights into a more visitor segment-specific utilization of VD for managing VS more efficiently and contributes to the visitor attraction literature by investigating variables influencing the VD–VS relationship. [ABSTRACT FROM AUTHOR]
- Published
- 2021
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104. Public-Private Partnerships in Britain: Interpreting Recent Experience
- Author
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Foreman-Peck, James, Wright, Mike, book editor, Wood, Geoffrey T., book editor, Cuervo-Cazurra, Alvaro, book editor, Sun, Pei, book editor, Okhmatovskiy, Ilya, book editor, and Grosman, Anna, book editor
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- 2022
- Full Text
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105. Barriers to Digital Technology Deployment in Value Management Practice
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Douglas Aghimien, Ntebo Ngcobo, Clinton Aigbavboa, Saurav Dixit, Nikolai Ivanovich Vatin, Shivani Kampani, and Gurbir Singh Khera
- Subjects
construction industry ,digital technology ,value for money ,value management ,Building construction ,TH1-9745 - Abstract
In the quest to promote constant value for money, value management (VM) has been proposed and adopted within the construction industry of countries across the world. To improve the VM process for a more effective outcome, pervasive digital technologies can be employed throughout a project and in the VM process. However, developing countries like South Africa are still lagging in using these emerging technologies. Therefore, this study assessed the digital technologies that can improve the VM process and the barriers hindering their usage within the construction industry. The study adopted a postpositivism philosophical stance with a questionnaire used to gather quantitative data from construction professionals that have participated in VM exercises within the South African construction industry. The data gathered were analysed using mean item score, standard deviation, the Kruskal-Wallis H-test, multiple linear regression and exploratory factor analysis. The study found with high predictive accuracy that digital technologies such as computer-based software, BIM, mobile devices, electronic meeting tools, cloud computing, augmented and virtual realities will significantly impact the overall success of VM practices. Furthermore, the barriers to the effective deployment of these technologies in the VM process can be categorised into (1) cost and awareness, (2) complexities of the VM and digital tools, (3) the construction industry’s digital culture, and (4) the availability of technology and expertise. This study provides a theoretical backdrop for future studies exploring the use of digital technologies for VM practices—an aspect that has not gained significant attention in VM discourse in the construction industry.
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- 2022
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106. Akuntabilitas, Transparansi, Pengawasan dan Kinerja Anggaran Berkonsep Value For Money
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Budi Purnomo and Cahaya Putri
- Subjects
akuntabilitas ,transparansi ,pengawasan ,value for money ,Accounting. Bookkeeping ,HF5601-5689 ,Finance ,HG1-9999 - Abstract
Abstract. This study aims to examine the effect of accountability, transparancy, and supervision on the budget erformance concept in value for money on regional work unit (SKPD) City of Bandung. The sample used in this tudy was 57 SKPD in City of Bandung. Field research are used to collect the data by using questionnaires as nstruments. Partial Least Square (PLS) approach employed SmartPLS software as data analysis method. Statistical test was utilizied as testing the hyphothesis. The results of the study with inner models showed that accountability, transparency, and supervision significant effect partially on the budget performance concept in value for money on regional work unit (SKPD) City of Bandung. Keywords. accountability; transparency; supervision; value for money. Abstrak. Penelitian ini bertujuan untuk menguji pengaruh akuntabilitas, transparansi dan pengawasan terhadap kinerja anggaran berkonsep value for money pada Satuan Kerja Perangkat Daerah (SKPD) Kota Bandung. Sampel dalam penelitian ini adalah 57 SKPD di Kota Bandung. Teknik pengumpulan data yang digunakan adalah penelitian lapangan dengan menggunakan kuesioner sebagai instrumen. Metode analisis data menggunakan pendekatan Partial Least Square (PLS) dengan bantuan software SmartPLS. Pengujian hipotesis dalam penelitian ini menggunakan uji t-statistic. Hasil penelitian dengan evaluasi inner model menunjukkan secara parsial akuntabilitas, transparansi, dan pengawasan berpengaruh signifikan terhadap kinerja anggaran berkonsep value for money pada Satuan Kerja Perangkat Daerah (SKPD) Kota Bandung. Kata Kunci. akuntabilitas; pengawasan; transparansi; value for money.
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- 2018
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107. Delivering reproductive health services through non-state providers in Pakistan: understanding the value for money of different approaches
- Author
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Adrian Gheorghe, Rashid Uz Zaman, Molly Scott, and Sophie Witter
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Reproductive health ,Social franchising (SF) ,Social marketing (SM) ,Value for money ,Pakistan ,Non-state providers ,Public aspects of medicine ,RA1-1270 - Abstract
Abstract Background Delivering Reproductive Health Results(DRHR) programme used social franchising (SF) and social marketing (SM) approaches to increase the supply of high quality family planning services in underserved areas of Pakistan. We assessed the costs, cost-efficiency and cost-effectiveness of DRHR to understand the value for money of these approaches. Methods Financial and economic programme costs were calculated. Costs to individual users were captured in a pre-post survey. The cost per couple years of protection (CYP) and cost per new user were estimated as indicators of cost efficiency. For the cost-effectiveness analysis we estimated the cost per clinical outcome averted and the cost per disability-adjusted life year (DALY) averted. Results Approximately £20 million were spent through the DRHR programme between July 2012 and September 2015 on commodities and services representing nearly four million CYPs. Based on programme data, the cumulative cost-efficiency of the entire DRHR programme was £4.8 per CYP. DRHR activities would avert one DALY at the cost of £20. Financial access indicators generally improved in programme areas, but the magnitude of progress varies across indicators. Conclusions The SF and SM approaches adopted in DRHR appear to be cost effective relative to comparable reproductive health programmes. This paper adds to the limited evidence on the cost-effectiveness of different models of reproductive health care provision in low- and middle-income settings. Further studies are needed to nuance the understanding of the determinants of impact and value for money of SF and SM.
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- 2018
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108. Attaining Value from Private Investment in Power Generation Projects in Indonesia: An Empirical Study
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Gigih Atmo, Colin Duffield, and David Wilson
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ppp project finance structure ,value for money ,power plant ,public private partnerships ,General Works ,Social Sciences ,Technology - Abstract
Provision of electrical infrastructure in emerging economies, like Indonesia, is very challenging post the 2008 Global Financial Crisis (GFC). Constrained lending via international finance markets has led to a reduction in the number of investors and shorter lending periods for public private partnerships (PPPs) projects. While domestic Indonesian investors and banks have begun to be involved in such projects, the scale of budgetary requirements for the delivery of power plant projects generally exceeds the financial capacity of both the public sector and local financial markets. This paper presents the findings of a Delphi style survey and proposes implementation strategies that may overcome current investment constraints and still attain Value for Money (VfM) from the delivery of Indonesian PPP power projects post the 2008 GFC. Initially, qualitative data was acquired from two industry seminars to establish the context of Indonesian PPP power projects. This was followed by two rounds of the Delphi technique to develop consensus among a panel of industry experts about realizing VfM from Indonesian PPPs. The results show that (i) export credit agencies from regional Asian countries have increased their roles to support PPP power projects (ii) structural deficiencies of local power industry manufacturing has created barriers for greater roles of local finances in the projects (iii) enhanced contractual risk allocation between the public and private sector can potentially improve project outcomes; these involve greater transparency and accountability of project guarantee processes. This study adapted key implementation features for attaining VfM into short, medium, and long term development strategies that are suitable for Indonesia. It has been concluded that a sustainable energy system can be realized when there is alignment of interests between the government, project sponsors, fuel suppliers, and lenders.
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- 2018
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109. A VALUE-BASED MULTI-CRITERIA DECISION-MAKING APPROACH TOWARDS FLOATING HOUSE DEVELOPMENT: A CASE STUDY IN HONG KONG
- Author
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Wang, Xinhao, Xu, Shi-Yu, Leung, Mei-Yung, and Liang, Qi
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construction cost ,sea level rise ,Strategy and Management ,fuzzy set theory ,value for money ,FAST diagram ,global warming ,Civil and Structural Engineering - Abstract
This study aims at investigating the cost-effectiveness of developing a new type of house, the floating house, as a solution to land scarcity in metropolitan coastal cities. Under value management framework, the “function analysis system technique” diagram was established to identify the functions of land-based and floating houses. Participants with different backgrounds shared their views through the two designed questionnaires, assisting in determining the cost allocation and functional performance levels of the houses. Fuzzy set theory was utilized to convert the collected professional knowledge and public opinions into numerical measurements. The obtained function values disclosed that, despite weaknesses in the conventional living and structural issues, the floating house still shows competitiveness and opportunities in customer attraction, environmental sustainability, and encouraging local tourism. This paper offers the evidence and reference to both practitioners and governments seeking for a better value of the money they invest in future floating house projects.
- Published
- 2023
110. Monitoring global water and sanitation
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Norman, Rachel and Franceys, Richard
- Subjects
333.91 ,Fit for purpose ,value for money ,Kenya ,Uganda - Abstract
The process of determining outputs and outcomes plays a key role in the setting of global targets, in defining national sector policy and strategic plans and in ensuring a continuous, safe supply of affordable water. Each of these actions, are integrally linked by aggregated data sets generated through an effective monitoring and evaluation (M&E) process. This thesis examines the various components of M&E across three case studies: Global, Kenya and Uganda, including aspects such as whether roles and responsibilities are realistically assigned and whether there is a recurring set of core indicators being monitored and reported. The research has also sought to establish an evidence base of the associated costs and efficacy of use of M&E. Through purposive and snowball sampling, fieldwork was undertaken across the case studies with 85 key stakeholders. Programme, national and global level data sets were collected through structured literature reviews, document and data archive reviews, key informant and semi-structured interviews. Qualitative and quantitative data analysis methods were applied. The results demonstrate that despite having a recurring global goal and associated target, the number and variety of indicators reported against has grown over time and at each level. In turn this is placing a burden on already resource constrained countries. Regardless of the various principles of harmonization and alignment, countries are still required to manage internally and externally driven parallel systems. Whilst the research suggests the costs of M&E are escalating, the full extent of this increase remains unknown as does the extent of efficacy of use of M&E. Despite evidence that country-led M&E processes are at some level achieving their objectives, with the continuing complexities of the sector particularly around the accompanying aid architecture, M&E is not currently ‘fit for purpose’ for use in the WASH sector and is unlikely to be providing value for money.
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- 2013
111. BIM Based Value for Money Assessment in Public-Private Partnership
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Ren, Guoqian, Li, Haijiang, Rannenberg, Kai, Editor-in-chief, Sakarovitch, Jacques, Series editor, Goedicke, Michael, Series editor, Tatnall, Arthur, Series editor, Neuhold, Erich J., Series editor, Pras, Aiko, Series editor, Tröltzsch, Fredi, Series editor, Pries-Heje, Jan, Series editor, Whitehouse, Diane, Series editor, Reis, Ricardo, Series editor, Furnell, Steven, Series editor, Furbach, Ulrich, Series editor, Winckler, Marco, Series editor, Rauterberg, Matthias, Series editor, Camarinha-Matos, Luis M., editor, Afsarmanesh, Hamideh, editor, and Fornasiero, Rosanna, editor
- Published
- 2017
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112. Introduction
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Moed, Henk F., Glänzel, Wolfgang, Series editor, Schubert, Andras, Series editor, and Moed, Henk F.
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- 2017
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113. PLB Negative Publicity: Moderated by Extrinsic Cues
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Gendel-Guterman, Hanna, Levy, Shalom, Martínez-López, Francisco J., editor, Gázquez-Abad, Juan Carlos, editor, Ailawadi, Kusum L., editor, and Yagüe-Guillén, María Jesús, editor
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- 2017
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114. Comparing the Efficiency of Public-Private Partnerships with the Traditional Procurement: Based on the Chengdu No. 6 Water Plant B
- Author
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Chen, Chuan, Chen, Ping, Wang, Qi, Kacprzyk, Janusz, Series editor, Pal, Nikhil R., Advisory editor, Bello Perez, Rafael, Advisory editor, Corchado, Emilio, Advisory editor, Hagras, Hani, Advisory editor, Kóczy, László T., Advisory editor, Kreinovich, Vladik, Advisory editor, Lin, Chin-Teng, Advisory editor, Lu, Jie, Advisory editor, Melin, Patricia, Advisory editor, Nedjah, Nadia, Advisory editor, Nguyen, Ngoc Thanh, Advisory editor, Wang, Jun, Advisory editor, Xu, Jiuping, editor, Hajiyev, Asaf, editor, Nickel, Stefan, editor, and Gen, Mitsuo, editor
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- 2017
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115. Benefits of Sustainable Value Management
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Oke, Ayodeji E., Aigbavboa, Clinton O., Oke, Ayodeji E., and Aigbavboa, Clinton O.
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- 2017
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116. Pharmaceutical Policy in Bulgaria
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Lopert, Ruth and Babar, Zaheer-Ud-Din, editor
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- 2017
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117. The Effects of Social Value, Value for Money, App Rating, and Enjoyment on the Intention to Purchase the Premium Service of the Spotify App.
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Yulianto, Hans Christian and Hillebrandes Oroh, Augustinus Nicolaas
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SOCIAL values ,DIGITAL music ,SMART devices ,INTENTION ,INDEPENDENT variables ,ORGANIZATIONAL performance ,DEPENDENT variables - Abstract
The use of music streaming services has been proliferating all around the world, including in Indonesia. While being a leader in music streaming service, Spotify is not at their top performance lately due to having reached the maturity stage, and even shows a decline in the percentage of paid users as compared to the total users. Their growth has also slowed in the past five years. Strategic marketers claim that companies need to fully understand the needs of the consumers to create suitable products and therefore grow their company, and failure to do so is creating marketing myopia and problems. This research was done to find out the effect of social value, value for money, app rating, and enjoyment on the intention to purchase Spotify, specifically the premium version of Spotify. The sample was Spotify users who had been using Spotify for at least one month (both free and premium), aged at least 13 years old, who had a smart device, and were domiciled in Surabaya, Indonesia. 135 samples were used. All independent variables positively and significantly affected the dependent variable, both individually and as a whole. The most dominant factor was the value for money, followed by enjoyment, app rating, and finally, social value. The findings can be used to develop strategies to help improve the performance of freemium businesses, including Spotify. [ABSTRACT FROM AUTHOR]
- Published
- 2021
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118. Stochastic modelling of maintenance flexibility in Value for Money assessment of PPP road projects.
- Author
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Zhang, Jing and Yuan, Xian-Xun
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STOCHASTIC models ,MAINTENANCE ,MAINTENANCE costs ,DYNAMIC programming ,DISTRIBUTION (Probability theory) - Abstract
Maintenance flexibility has been promoted as a value driver for long-term public–private partnerships (PPPs). However, the value and risk associated with this value driver have not been properly quantified in the Value for Money (VfM) assessment literature. To bridge the gap, a novel stochastic modelling methodology is proposed to characterize the complex interactions among the lifecycle cost (LCC), performance deterioration and maintenance strategies. Four different maintenance strategies are designed to emulate the practice in the traditional and PPP delivery methods. The LCC includes the direct maintenance cost, user cost, residual value, and payment deduction, the last three often being neglected in VfM assessments. Simulation-based optimization and dynamic programming analysis are used to determine the probability distributions of the LCC and the VfM. A hypothetical highway PPP project under an availability payment model is selected as a case study. The results show that maintenance flexibility is indeed able to reduce the LCC for the private party. However, this private efficiency, if not properly regulated, could cause a reduced asset residual value and an increased user cost, making the public party worse off. In addition, for all potential maintenance strategies, the public sector is found to retain significant lifecycle cost risk, largely in the form of user cost. [ABSTRACT FROM AUTHOR]
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- 2021
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119. Pengukuran Kinerja Dengan Pendekatan Value For Money Sebagai Perwujudan Good Governance (Studi Kasus Pada Dinas Sosial Surabaya Tahun 2017-2021)
- Abstract
Penelitian ini bertujuan untuk mengukur, menganalisis, serta mengetahui bagaimana kinerja pada Dinas Sosial Kota Surabaya dari tahun 2017-2021 yang di ukur dari Laporan Akuntabilitas Kinerja Instansi Pemerintah (LAKIP) dengan menggunakan Value For Money. Metode yang digunakan pada penelitian ini yaitu menggunakan metode deskriptif kualitatif, dengan sumber data berupa data primer dan sekunder. Teknik pengumpulan data yang digunakan yaitu survey, wawancara dan dokumentasi, informa dalam penelitian ini terdiri dari satu kepala sub koordinator umum dan kepegawaian, dua staff umum dan kepegawaian dan satu lagi dari masyarakat. Hasil penelitian ini menunjukkan bahwa Kinerja pada Dinas Sosial Kota Surabaya telah ekonomis, efisien, dan efektif. Pada pengukuran ekonomis mengacu pada anggaran atau input dengan realisasi anggaran. Pengukuran efisien berdasarkan perbandingan jumlah realisasi output yang dihasilkan dengan input. Sedangkan pengukuran efektivitas dapat ditinjau melalui perbandingan antara target aggaran dengan realisasi yang sesungguhnya. Dan hasil dari penilaian Good Governance dengan menggunakan prinsip akuntabilitas dan transparansi, penilaian akuntabilitas yang diukur dari LAKIP dan SAP menunjukkan bahwa Dinas Sosial Kota Surabaya telah menjalankan kinerjanya dengan akuntabel. Dan penilaian dari transparansi menunjukkan telah berhasil dalam menyelenggarakan transparansi kepada masyarakat.
- Published
- 2023
120. Pengukuran Kinerja Dengan Pendekatan Value For Money Sebagai Perwujudan Good Governance (Studi Kasus Pada Dinas Sosial Surabaya Tahun 2017-2021)
- Abstract
Penelitian ini bertujuan untuk mengukur, menganalisis, serta mengetahui bagaimana kinerja pada Dinas Sosial Kota Surabaya dari tahun 2017-2021 yang di ukur dari Laporan Akuntabilitas Kinerja Instansi Pemerintah (LAKIP) dengan menggunakan Value For Money. Metode yang digunakan pada penelitian ini yaitu menggunakan metode deskriptif kualitatif, dengan sumber data berupa data primer dan sekunder. Teknik pengumpulan data yang digunakan yaitu survey, wawancara dan dokumentasi, informa dalam penelitian ini terdiri dari satu kepala sub koordinator umum dan kepegawaian, dua staff umum dan kepegawaian dan satu lagi dari masyarakat. Hasil penelitian ini menunjukkan bahwa Kinerja pada Dinas Sosial Kota Surabaya telah ekonomis, efisien, dan efektif. Pada pengukuran ekonomis mengacu pada anggaran atau input dengan realisasi anggaran. Pengukuran efisien berdasarkan perbandingan jumlah realisasi output yang dihasilkan dengan input. Sedangkan pengukuran efektivitas dapat ditinjau melalui perbandingan antara target aggaran dengan realisasi yang sesungguhnya. Dan hasil dari penilaian Good Governance dengan menggunakan prinsip akuntabilitas dan transparansi, penilaian akuntabilitas yang diukur dari LAKIP dan SAP menunjukkan bahwa Dinas Sosial Kota Surabaya telah menjalankan kinerjanya dengan akuntabel. Dan penilaian dari transparansi menunjukkan telah berhasil dalam menyelenggarakan transparansi kepada masyarakat.
- Published
- 2023
121. Barriers to the adoption of value management in developing countries
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Aghimien, Douglas Omoregie, Oke, Ayodeji Emmanuel, and Aigbavboa, Clinton Ohis
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- 2018
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122. The role of trip purpose and hotel star rating on guests’ satisfaction and WOM
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Rajaguru, Rajesh and Hassanli, Najmeh
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- 2018
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123. Drivers of value management in the Nigerian construction industry
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Oke, Ayodeji Emmanuel and Aghimien, Douglas Omoregie
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- 2018
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124. Measuring procurement performance in Europe
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Flynn, Anthony
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- 2018
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125. The Value of the Value for Money Principle: From a Public Private Partnership Perspective.
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D. Tvarnø, Christina
- Subjects
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PUBLIC-private sector cooperation , *GOVERNMENT purchasing , *LEGAL instruments , *PUBLIC law - Abstract
The article concerns Public Private Partnerships and the value for money principle. The article presents an analysis of the British value for money principle, the lack of similar principle in the EU public procurement law and the importance of value for money in regard to Public Private Partnerships. This article does not question the key principles of transparency, equal treatment, proportionality, non-discrimination, and competition but discusses the value for money as a relevant legal instrument in regard to Public Private Partnerships in EU public procurement law. [ABSTRACT FROM AUTHOR]
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- 2020
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126. ŞEHİR HASTANELERİ'NİN GELİŞİMİ SÜRECİNDE SAĞLIK BAKANLIĞI'NIN YAPISAL VE İŞLEVSEL DÖNÜŞÜMÜ.
- Author
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FEDA, Recep
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PROGRAM transformation ,URBAN hospitals ,HEALTH programs ,PRIVATE sector - Abstract
Copyright of Journal of Management & Economics Research is the property of Journal of Management & Economics Research and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
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- 2020
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127. Improving Health Service Quality in the Kingdom of Cambodia: A Policy Perspective.
- Author
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Pheakdey, Sambo, Chan, Narith, Kolesar, Robert John, and Chak, Chantha
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CLINICAL medicine ,HEALTH services accessibility ,MEDICAL quality control ,HEALTH policy ,NATIONAL health insurance ,PUBLIC health ,QUALITY assurance ,SUSTAINABLE development ,KEY performance indicators (Management) - Abstract
The achievement of Universal Health Coverage, including quality services, is high on the international agenda. Cambodia aims to expand social health protection and is committed to improving the healthcare service quality. We review the country context and propose five policy approaches to accelerate progress on healthcare quality improvement in Cambodia. These approaches aim to augment the profile and continued focus on quality while leveraging and optimizing existing systems to incentivize improvements and increase value for money. [ABSTRACT FROM AUTHOR]
- Published
- 2020
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128. Legal Analysis of State Support in Public Private Partnerships in Turkey.
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Bayazıt, Bahar
- Subjects
- *
PUBLIC support , *PUBLIC-private sector cooperation , *PRIVATE sector , *MUNICIPAL services - Abstract
Public-Private Partnerships (PPPs) became an important part of public service delivery in Turkey as many of the infrastructures are built via PPP models, even though there is a lack of harmonised and unified PPP legislation. State support is given to project companies in order to reduce the assumed risks and consequently ensure the value for money in PPPs. Even though state supports are expected to be a balancing mechanism so as to realize value for money in the projects, state support is given and paid to project companies so far in Turkey shows that they are used in order to attract the private sector into PPP projects rather than ensuring value for money. [ABSTRACT FROM AUTHOR]
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- 2020
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129. Selection of quantitative and qualitative methods for comprehensive evaluation of PPP projects focusing on the Czech Republic
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Petr JÍLEK, Hana ČERNÁ SILOVSKÁ, Petr KOLAŘÍK, and Martin LUKAVEC
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public private partnership ,value for money ,public sector comparator. ,Political institutions and public administration (General) ,JF20-2112 - Abstract
The article deals with the theoretical back-ground and concepts providing the basis for the use of forms of financing and acquisition of public goods and services through partnerships between the public and the private sectors (public-private partnership – PPP). The aim of this article is to introduce a new original methodology using a selection of qualitative and quantitative methods for evaluating investments and to form a complex output that will clearly and distinctly testify about the appropriateness of using the PPP method. For this purpose, processes which are normally used for business valuation – generators of values, property valuation, yield valuation, valuation based on market analysis, are combined and incorporated/recast in the current assessment methodology, which is based on the Public Sector Comparator and determinants of value for money (VFM), are being used. Although this new methodology was developed in response to the problematic situation regarding PPP projects’ evaluation particularly in the Czech Republic, it can also be applied in other countries.
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- 2018
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130. El Buen Gobierno en las Contrataciones del Estado: La metodología del Total Cost of Ownership como propuesta para mejorar la determinación y aplicación de los factores de evaluación de ofertas.
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Castro Barriga, Carlos David Alberto and Villavicencio Benites, Luis Fernando
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TOTAL cost of ownership ,GOVERNMENT purchasing ,DISCRETION ,GRANTS (Money) ,SURETYSHIP & guaranty - Abstract
Copyright of IUS ET VERITAS is the property of Asociación IUS ET VERITAS and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2021
- Full Text
- View/download PDF
131. A BIM-Based Value for Money Assessment in Public-Private Partnership: An Overall Review.
- Author
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Ren, Guoqian, Li, Haijiang, and Zhang, Jisong
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PUBLIC-private sector cooperation ,BUILDING operation management ,MONEY ,INFORMATION resources management ,ORDER picking systems - Abstract
Public-private partnerships (PPPs) have proliferated and adapted to public development in recent decades; within it, the value for money (VfM) assessment defines the feasibility of the project procurement model as one of the essential components of PPP. However, evaluating the VfM in PPPs remains problematic. Given concerns about PPP profitability, a more integrated VfM evaluation is urgently needed to manage multiple indicators along the project lifecycle. Building information management (BIM), popular in architecture, engineering, and construction, provides resources that could support the VfM to a great extent. This paper uses a review approach to identify the current issues that are affecting VfM assessments and suggests that BIM, functioning throughout the PPP lifecycle, could support decision-making in VfM processes in order to satisfy service targets. [ABSTRACT FROM AUTHOR]
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- 2020
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132. Toward health system strengthening in low- and middle-income countries: insights from mathematical modeling of drug supply chains.
- Author
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Jbaily, Abdulrahman, Feldhaus, Isabelle, Bigelow, Benjamin, Kamareddine, Leila, Tolla, Mieraf Taddesse, Bouvier, Marion, Kiros, Mizan, and Verguet, Stéphane
- Subjects
- *
MATHEMATICAL models , *MEDICAL care , *WORLD health , *GOVERNMENT programs , *INCOME , *DRUGS , *THEORY , *RESEARCH funding , *PUBLIC welfare , *POVERTY ,DEVELOPING countries - Abstract
Background: Global health priority setting increasingly focuses on understanding the functioning of health systems and on how they can be strengthened. Beyond vertical programs, health systems research should examine system-wide delivery platforms (e.g. health facilities) and operational elements (e.g. supply chains) as primary units of study and evaluation.Methods: We use dynamical system methods to develop a simple analytical model for the supply chain of a low-income country's health system. In doing so, we emphasize the dynamic links that integrate the supply chain within other elements of the health system; and we examine how the evolution over time of such connections would affect drug delivery, following the implementation of selected interventions (e.g. enhancing road networks, expanding workforce). We also test feedback loops and forecasts to study the potential impact of setting up a digital system for tracking drug delivery to prevent drug stockout and expiration.Results: Numerical simulations that capture a range of supply chain scenarios demonstrate the impact of different health system strengthening interventions on drug stock levels within health facilities. Our mathematical modeling also points to how implementing a digital drug tracking system could help anticipate and prevent drug stockout and expiration.Conclusion: Our mathematical model of drug supply chain delivery represents an important component toward the development of comprehensive quantitative frameworks that aim at describing health systems as complex dynamical systems. Such models can help predict how investments in system-wide interventions, like strengthening drug supply chains in low-income settings, may improve population health outcomes. [ABSTRACT FROM AUTHOR]- Published
- 2020
- Full Text
- View/download PDF
133. Thematic analysis of the learning experience of joint honours students: their perception of teaching quality, value for money and employability.
- Author
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Pigden, Louise and Jegede, Franc
- Subjects
- *
JOINT academic degree programs , *EFFECTIVE teaching , *TEACHERS' workload , *EMPLOYABILITY , *HIGHER education - Abstract
The focus of the research was students' perceptions of whether joint honours degrees represented a sound student learning experience and led to good academic and employability outcomes. In this minority mode of study for the United Kingdom, students study two academic subjects, rather than the more usual single subject. The qualitative methodology followed was a thematic analysis of self-administered questionnaire data, collected from joint honours students at four English universities in the United Kingdom. The principal results were that the students experienced difficulties in fitting into the two communities of learning for their respective subjects; in being adequately supported; in disparities in teaching, learning and assessment between their two subjects, and in a high workload. The major conclusion was that although the students perceived their learning experiences to have value by virtue of having studied two subjects, a number of issues stymied their achieving the best learning experience possible. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
134. Effect of Accountability, Transparency and Supervision on Budget Performance.
- Author
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HARNOVINSAH, ERLINA, AL-HAKIM, Y., and MUDA, I.
- Subjects
- *
GOVERNMENT accountability , *BUDGET , *TRANSPARENCY in government , *BUDGET management , *SOCIOECONOMIC factors , *GOVERNMENT policy - Abstract
This research aims to examine the effect of accountability, transparency, and supervision onbudget performance of the Value for Money concept. The research was conducted on 43 local work units in Special Capital Region (DKI) Jakarta Province. The sample of the research consists of 86 government officials using Structural Equation Modeling (SEM) analysis to test the hypothesis. The result of this research-proven that accountability and supervision have significantly affected the on-budget performance of the Value for Money concept, while transparency showed no effect on the effectiveness on-budget performance of the same concept. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
135. The Need for Emergency Public Procurement Legislation in China: Lessons from COVID-19.
- Author
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Chong, Jun
- Subjects
- *
GOVERNMENT purchasing , *COVID-19 , *WAR & emergency legislation , *EMERGENCIES , *LEGISLATION - Abstract
Under the epidemic situation, materials are in short supply, but traditional procurement cannot meet the needs of emergency speed. This article compares and analyses the regular Chinese procurement methods with the US and EU emergency procurement methods, so as to obtain the methods suitable for China's emergency situation, and calls for emergency procurement legislation. At the same time, this article discusses the scope and principles of emergency procurement, emphasising that emergency procurement should not be abused and still follow the principle of value for money. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
136. Performance Measurement in Education Public Services Based on the Value for Money Concept.
- Author
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Meričková, Beáta Mikušová, Štrangfeldová, Jana, Muthová, Nikoleta Jakuš, and Štefanišinová, Nikola
- Subjects
- *
MUNICIPAL services , *PUBLIC education , *KEY performance indicators (Management) , *DELPHI method , *PUBLIC schools - Abstract
The growing interest in the performance of public services by citizens and public authorities force public service organizations to seek justification in the use of public resources. The public also require reassurance that public services provide value for money. This reflects the need for a comprehensive measurement and assessment of performance in the utilities sector. The selection of appropriate performance indicators is a key process in managing and monitoring the performance. However, this requires the participation of those organizations which this measurement concerns. The aim of the study is to present a proposal of possible performance indicators in public grammar schools in Slovak Republic based on the Value For Money concept. This study uses a positive approach and is based mainly on the original survey data from own research. The analysis is conducted by using Delphi method. The outcome of the study, in the form of a proposal for possible performance indicators, is enriched by feedback from education professionals and school heads. The proposal of possible performance indicators can be an initial outline of appropriate performance indicators for the model for measuring and assessing the performance of public grammar schools in the future. It can also be an inspiration for other public service organizations in how to set appropriate performance indicators in relation to their objectives. The total number of performance indicators that will enter into the construction of the model of measuring and evaluating the performance of public grammar schools is 25 indicators. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
137. Value or Quality? Differences in Airlines' Customer Satisfaction Strategies across National Markets.
- Author
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Messner, Wolfgang
- Subjects
CUSTOMER satisfaction ,GRAND strategy (Political science) ,VALUE orientations ,QUALITY of service ,MARKETING research - Abstract
Global strategists suggest to deploy a value for money strategy both in emerging and developed markets. This study uses reviews from 24,926 airline passengers across 29 countries, and investigates in a multi-country context how value for money and service quality perceptions influence customer satisfaction. This study also advances strategic-fit research of value-for-money marketing strategies on an international level by theorizing and empirically investigating the moderating influence of a country's economic condition and hedonic value orientation on customer satisfaction. The results clearly oppose an emerging versus developed world thinking. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
138. Políticas públicas na área da saúde: notas sobre o planejamento prévio à celebração de contratos de gestão com organizações sociais.
- Author
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Macedo Motta, Fabrício and Ribeiro Naves, Fernanda de Moura
- Subjects
MANAGEMENT contracts ,SOCIAL services ,PUBLIC administration ,FEDERAL laws ,DEFINITIONS - Abstract
Copyright of Revista Brasileira de Estudos Politicos is the property of Universidade Federal de Minas Gerais (Revista Brasileira de Estudos Politicos) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2020
- Full Text
- View/download PDF
139. Discursive framings of market-based education policy and their negotiation by students: the case of 'value for money' in English universities.
- Author
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Jones, Steven, Vigurs, Katy, and Harris, Diane
- Subjects
- *
EDUCATION policy , *UNDERGRADUATES , *STUDENT finance , *UNIVERSITY tuition , *CONSUMERISM , *HIGHER education - Abstract
Measures that economise education are typically accompanied by discourses that prime society for change by framing the policy in individualistic and consumeristic terms. This article explores the emergence of 'value for money' (VfM) discourses in the English higher education sector. Using Bourdieu's thinking tools, we explore how VfM is conceptualised by final year undergraduates paying different levels of 'headline' tuition fees at a Russell Group and a Post-92 university. Unsurprisingly, we find qualitative evidence of an increase in VfM negativity as fees rise. However, this does not distribute evenly across different groups of students. At both institutions, undergraduates approach VfM in complex and unexpected ways, drawing on different capitals and often pushing back against dominant discourses. A key finding is that many students report high levels of satisfaction with their institution, course and teaching, while simultaneously expressing VfM negativity because they feel tuition fees are too high. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
140. TRUST4RD: tool for reducing uncertainties in the evidence generation for specialised treatments for rare diseases.
- Author
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Annemans, Lieven and Makady, Amr
- Subjects
- *
THERAPEUTICS , *RARE diseases , *UNCERTAINTY , *TECHNOLOGY assessment , *SOMATIC cells , *RESEARCH , *RESEARCH methodology , *MEDICAL cooperation , *EVALUATION research , *ORPHAN drugs , *COMPARATIVE studies , *SYMPTOMS , *QUALITY assurance - Abstract
Background: Many treatments developed for rare diseases will have an Orphan Medicinal Product (OMP) designation, indicating that they are likely to deliver benefit in an area of high unmet need. Their approval may be based on a small or uncontrolled trial, as randomised controlled trials (RCTs) of sufficient size are often difficult to conduct, or repeat, as a result of the rarity of the condition, sparsity of patients, or for ethical reasons. Furthermore, many products are given a conditional marketing authorisation, requiring additional evidence to be collected after product launch. This is even more challenging with the advent of advanced therapeutic medicinal products, which use novel scientific approaches like gene or somatic cell therapy.Issue: Given the high unmet need associated with these products, there is pressure for Health Technology Assessment (HTA)/reimbursement bodies to enable rapid access to effective treatments. However, there is often only limited evidence available for assessment.Methods: TRUST4RD proposes an approach to identify uncertainties of most concern for decision-makers by developing an iterative and informed dialogue amongst stakeholders (including manufacturers, clinicians, patients, regulatory- and HTA agencies and payers), so that potential approaches to resolution can be discussed. As evidence is generated, uncertainties are reviewed and prioritised, and evidence-generation plans revised or clarified accordingly. The aim is to develop - both pre- and post HTA submission - a better understanding of evidence requirements versus evidence-generation trade-offs as an evidence base grows and the potential value of a product becomes clearer.Conclusion: TRUST4RD presents guidance on defining uncertainties and evidence gaps in the assessment of value and value for money of specialised treatments for rare diseases. It also provides guidance on the potential of Real World Evidence (RWE) to help address such uncertainties, including the typology of evidence uncertainties, the importance of different uncertainties and the data sources available to address them before and after HTA submission. In making use of the guidance, authorisation and reimbursement discussions on such treatments can be embedded in an evidence-rich context, thereby ensuring value to all parties, particularly to patients. [ABSTRACT FROM AUTHOR]- Published
- 2020
- Full Text
- View/download PDF
141. A Bayesian Network Framework for Comparing Project Delivery Methods.
- Author
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Sharma, Deepak K., Mishra, Phoolendra K., and Lekhi, Rajnish
- Subjects
PROJECT management ,BAYESIAN analysis ,PUBLIC-private sector cooperation ,DECISION making ,FEDERAL government ,FEASIBILITY studies - Abstract
Public–Private Partnerships (PPPs) are innovative and evolving project delivery methods that have enabled public entities, such as local, state, and federal government agencies to pursue projects that were otherwise infeasible. Value for Money (VfM) is commonly used as a tool to evaluate PPP project delivery with traditional project delivery. In this work, a BN framework is presented for supplementing VfM analysis that allows for the combination of the quantitative and qualitative components of project delivery. The framework includes steps to develop BNs, analyze network scenarios and interpret the results. The proposed BN framework reduces the subjectivity and bias inherent in VfM assessment. It, therefore, has the potential to supplement the decision-making process. We demonstrate the application of the proposed framework to California's Presidio Parkway Project as a case study. The results corroborate the findings from the VfM assessment and conclude that for the Presidio Parkway project, design–build–finance–operate–maintain is a better method than the traditional design–bid–build project delivery method. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
142. Infrastructure Provision on the Margins: An Assessment of Broadband Delivery UK.
- Author
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Gerli, Paolo, Matteucci, Nicola, and Whalley, Jason
- Subjects
INTERVENTION (Federal government) - Abstract
Many governments have recognised the socio-economic importance of broadband. The market often provides a broadband connection but when this does not occur governments have stepped in. Through focusing on one government intervention, Broadband Delivery UK (BDUK) in the UK, this paper highlights the cost of providing broadband connections to areas unserved by the market. The difficulty of assessing demand in such areas is illustrated, as is how the lack of transparency complicates any assessment of the value for money. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
143. 'Bastard children': unacknowledged consulting companies in development cooperation.
- Author
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White, Pamela
- Subjects
- *
TECHNICAL assistance , *BUSINESS models , *COOPERATION , *BUSINESS enterprises ,DEVELOPING countries - Abstract
Development consulting companies are pivotal actors in bilateral projects, yet they are largely invisible in policy documents, and little researched. Their business model is a combination of 'doing good' and profit. This article examines the history, business logics and working relationships of consulting companies in development cooperation, taking the case of Finland. It asks 'Why are consultancy companies needed in development cooperation?' Their relationship with donors appears to represent a principal–agent relationship, yet they often share the donor's ethos, and even exchange staff. The dramatic decrease in technical assistance budgets over recent years, along with increasing bureaucracy, has caused profits to diminish and many companies have disappeared, taking institutional memory with them. However, if the donors wish to assert some policy guidance and have contact with work on the ground in developing countries, there is a need for technical assistance via consulting companies. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
144. ФИНАНСИРАЊЕ НА ЈАВНИ КАПИТАЛНИ ПРОЕКТИ СО ЈАВНО-ПРИВАТНО ПАРТНЕРСТВО.
- Author
-
Максимовски, Саша
- Abstract
Copyright of International Dialogue: East-West is the property of International Center for Slavic Education- Sveti Nikole and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2020
145. Unobserved Heterogeneity in Public Procurement Governance and Value for Money.
- Author
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MA ZHIQIANG, BWABO, MAULID, LI MINGXING, HU WEIJUN, and PANGA, FAUSTINE
- Subjects
GOVERNMENT purchasing ,HETEROGENEITY ,GOODNESS-of-fit tests ,STRUCTURAL models ,MONEY - Abstract
The public procurement governance crisis in developing countries is typically triggered by unclear transparency and accountability, inadequate competitiveness procedures and weak legal frameworks. To address these challenges, unlikely other studies, we critically analyzed the effects' sizes and permutation tests to uncover unobserved heterogeneity. The motives behind this paper are to ascertain the unobserved heterogeneity in public procurement governance and to identify existence classes with homogeneous behavior patterns. REBUS-PLS was used to measure and assess the unobserved heterogeneity. In that premises, the paper critically assessed the measurement and structural models and explicitly analyzed the goodness of fit (GoF) index, group quality index (GQI), effects' sizes and permutation tests. The six tested hypotheses were significant at the global model after accustoms the bootstrap. By contrast, the local models show better performance compared to the global model. The paper contributes by providing original empirical findings to the main streams of the public procurement governance with REBUS-PLS which is not a common approach. The study concludes that significant unobserved heterogeneity existed regarding transparency, accountability, competition, legal frameworks and value for money from a viewpoint of local government in Tanzania. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
146. Public Private Partnerships: A possible alternative for delivery of infrastructure projects in Africa
- Author
-
Salim Bwanali and Pantaleo Rwelamila
- Subjects
Infrastructure development ,Innovativefinancing model ,Public private partnerships ,Risk allocation ,Value for money ,Business ,HF5001-6182 - Abstract
It is estimated that Africa needs $93 billion annually until 2020 in order to bridge its infrastructure deficit. It is through significant investment in infrastructure development that economic growth and poverty alleviation can be enhanced. However central to all construction projects is an effective and sustainable procurement system. There is a notable shift by some African governments to turn to the private sector to design, build, finance and operate infrastructure facilities previously provided by the public sector in the form of Public Private Partnerships (PPP’s). As an innovative financing model, PPPs present an opportunity to governments to improve service delivery. Accordingly, this paper focuses on assessing international best practices as to how some developing nations tap into the resources of the private sector in implementing their infrastructure projects. The study is a result of critical review, synthesis and contextualization of relevant academic literature, conference and journal publications. A thorough document review method was employed to assess how some developing countries have institutionalized PPP as part of their development strategy. The paper will be of significant value to senior government officials as understanding the concept and dynamics of PPP will result in accelerated and effective service delivery.
- Published
- 2017
- Full Text
- View/download PDF
147. PPP Policy, Depoliticisation, and Anti-Politics
- Author
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Tom Willems, Wouter Van Dooren, and Martijn van den Hurk
- Subjects
depoliticisation ,anti-politics ,public-private partnerships ,value for money ,technocracy ,Political science (General) ,JA1-92 - Abstract
This article disentangles the complex relationship between depoliticisation and anti-politics in public-private partnership (PPP) policies and practices. By identifying three social mechanisms that underlie dynamics of depoliticisation in PPPs, namely consultocracy, yield bias, and complex contracting, it contrib-utes to the growing interdisciplinary literature on depoliticisation. The article argues that as depoliticisation continues to evolve, it further increases the unbalance between depoliticisation and politicisation, which has negative implications for democratic governance. The depoliticised logic behind PPPs feeds broad sen-timents of political distrust and disappointment, because political decision makers tend to use PPPs as mir-acle solutions for the delivery of public infrastructure without bearing the long-term budgetary conse-quences of their own decisions. This constitutes an expectations gap: the difference between what is prom-ised or expected by politicians on the one hand, and what they can actually deliver on the other. It is here that the short-term rationales and incentives of political decision makers collide with the wider public inter-est in the longer term.
- Published
- 2017
- Full Text
- View/download PDF
148. Embedding occupational health and safety in the procurement and management of infrastructure projects: institutional logics at play in the context of new public management.
- Author
-
Lingard, Helen, Oswald, David, and Le, Tiendung
- Subjects
NEW public management ,INSTITUTIONAL logic ,INDUSTRIAL hygiene ,CONSTRUCTION project management ,PROJECT management ,CLIENT relations - Abstract
The research explored the approaches used by government agencies (as client organizations) to drive occupational health and safety (OHS) performance improvements in publicly funded infrastructure construction projects in Australia. Semi-structured interviews were conducted with 32 representatives of clients and contractors with direct and recent experience of delivering large public infrastructure projects. Interviews explored the procurement approaches taken, and the use of incentives and performance measurement. Data was subjected to inductive analysis to identify emergent concepts and themes relating to the way that New Public Management (NPM) influences the commercial management of infrastructure construction projects, with particular reference to OHS impacts. The concept of institutional logics was utilised as a theoretical frame to understand clients' behaviour in the commercial management of infrastructure projects. Client behaviour was consistent with elements of NPM and reflected a managerialist logic in the pursuit of efficiency, the use of targets, incentives and performance measurement. However, a strong professional service logic was also found to drive active client behaviour in relation to the management of OHS. Understanding the institutional logics driving client OHS practices is an important theoretical development that can stimulate reflexive practice which may create an impetus for change. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
149. Measuring Markets That Supply Cash-Based Humanitarian Interventions
- Author
-
Kopczak, Laura Rock, Matthews, Gregory, Price, Camille C., Series editor, Zhu, Joe, Series editor, Hillier, Frederick S., Series editor, Zobel, Christopher W., editor, Altay, Nezih, editor, and Haselkorn, Mark P., editor
- Published
- 2016
- Full Text
- View/download PDF
150. Cancer Biomarkers in the era of precision oncology: Addressing the needs of patients and health systems
- Author
-
Raymond Henderson, Richard Sullivan, Denis Horgan, Philip A. Beer, Mark Lawler, Kathi Apostolides, Nicola Normanno, Francesco De Lorenzo, and Andrew V. Biankin
- Subjects
Cancer Research ,medicine.medical_specialty ,business.industry ,Cancer ,Context (language use) ,Economic shortage ,Medical Oncology ,medicine.disease ,Biomarker (cell) ,Precision oncology ,Neoplasms ,Value for money ,Biomarkers, Tumor ,Humans ,Medicine ,Cancer biomarkers ,Precision Medicine ,business ,Intensive care medicine ,Healthcare system - Abstract
Cancer Biomarkers are the key to unlocking the promise of precision oncology, selecting which patients will respond to a more personalised treatment while sparing non-responders the therapy-related toxicity. In this paper, we highlight the primacy of cancer biomarkers, but focus on their importance to patients and to health systems. We also highlight how cancer biomarkers represent value for money. We emphasise the need for cancer biomarkers infrastructure to be embedded into European health systems. We also highlight the need to deploy multiple biomarker testing to deliver the optimal benefit for patients and health systems and consider cancer biomarkers from the perspective of cost, value and regulation. Cancer biomarkers must also be situated in the context of the upcoming In Vitro Diagnostics Regulation, which may pose certain challenges (e.g. non-compliance of laboratory developed tests, leading to cancer biomarker shortages and increased costs) that need to be overcome. Cancer biomarkers must be embedded in the real world of oncology delivery and testing must be implemented across Europe, with the intended aim of narrowing, not widening the inequity gap for patients. Cancer patients must be placed firmly at the centre of a cancer biomarker informed precision oncology care agenda.
- Published
- 2022
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