Complex Methods for Evaluation of Health Projects (Example of the Project of the Outpatient Hospitals Construction in the Novosibirsk Region)

Abstract

In recent years, a number of strategic decisions have been made in the field of social infrastructure projects, for the justification and successful implementation of which, the application of adequate tools for project analysis is essential. Currently, the quantitative methods, elaborated and applied in practice to evaluate infrastructure projects, concentrate on the evaluation of the financial (commercial) efficiency of projects. An urgent need to conduct an assessment of the economic (social) efficiency of projects simultaneously arises, being especially important for healthcare projects in the face of modern global challenges. The developed financial-economic model provides with an opportunity to conduct a comprehensive assessment of the financial and social effects of healthcare projects based on world standards adopted in the framework of cost-benefit analysis (CBA) and used in the practice of international financial organizations (World Bank, European Investment Bank, Asian Development Bank) The financial block of the model is focused on the analysis of the return on investment in fixed and working capital, taking into account the terminal value. The economic block of the model includes social and tax effects (along with environmental, price, indirect and other specific social effects). The proposed evaluation tool provides for the simultaneous assessment both the financial and economic efficiency of the outpatient hospital project in the NSO as a flagship project for the development of social infrastructure.