Review of Australia Red Cross Blood Service capital funding
Project Type - Funding, Public health
HOI was contracted by the National Blood Authority (NBA) to determine whether their existing capital funding management model was the best option to optimise return to government while supporting the growth requirements of the Australian Red Cross (Blood Service). The overarching project objectives were to:
- Review the existing process for calculating, paying and allocating capital funding each financial year and propose options for future funding
- Identify any gaps, deficiencies or opportunities for improvement and identify options for the methodology for calculation of future capital funding based on capital requirements of the Blood Service, including the risks and benefits of each option.
- Consider and report on any matters that arise which could potentially contribute towards the robustness of the capital funding and expenditure/allocations process.
- Provide assurance to all governments that the capital funding agreed in the Output Based Funding Model principles is consistent with best practice, and will identify opportunities for improvement in the capital funding and allocation methodology.
The key components of HOI’s methodology included:
- The development of a conceptual model options informed by a literature scan and stakeholder consultations. The model included a summary of the strengths and weaknesses of the existing capital funding model.
- Selection and refinement of the chosen model informed by consultation with the project Steering Committee.
Outcome- A final report along with Recommendations was submitted to NBA.