A Study Of Value For Money Assessment In Public Hospital's PPP Project

As the living standard of China has been improved to a large scale in recent years,people's demands for supreme medical service keeps growing.Due to the shortage of medical facilities and services delivered by the public sector,it has become especially important to bring social capital into medical projects and adopt a public-private partnership in setting up new hospitals.According to China's relevant policies,a value for money(VFM)assessment is required prior to the establishment of a new PPP project,to make sure that the PPP model is more efficient and of lower cost compared with the traditional government procuring model.The Ministry of Finance of China issued Guide for Value for Money Assessment of PPP Projects in 2015,according to which a comprehensive VFM assessment is required from both qualitative and quantitative aspects.Much academic research has been made on qualitative evaluation;however,the discussion of quantitative evaluation is far from sufficiency.Therefore,based on the status quo of VFM assessment in China,the dissertation puts forward a VFM assessment model for PPP projects of public hospital,with a focus on quantitative evaluation supplemented by qualitative evaluation.In the aspect of quantitative evaluation,the dissertation constructs an evaluation model suitable for the hospital PPP project,and puts forward that the quantification of risks is the key to effective VFM evaluation.First of all,the risk factors of the hospital PPP project are identified and the risk allocation plan is suggested,then after gathering data from experts with questionnaire,the analytic hierarchy process(AHP)and the set-valued statistic method based on fuzzy mathematics are used to calculate the risk loss weights and the risk probability.In addition,a set of standards for performance appraisal which is suitable for hospital PPP project is suggested,which is crucial to PPP projects' medium-term VFM quantitative evaluation,As for the qualitative evaluation,the dissertation presents the qualitative evaluation index for the hospital PPP projects,and submits the scoring criterion and calculates the weight of each index,thus optimizing the current qualitative evaluation system.At last,a case study on Boli Hospital in Qingdao is conducted by using the VFM assessment model presented by the dissertation to examine the model's operability and the feasibility.