NHS Capital Investment and Pfi: From Central Responsibility to Local Affordability

17 Pages Posted: 24 Jan 2011

See all articles by Pamela Stapleton

Pamela Stapleton

University of Manchester

Anne Stafford

University of Manchester - Manchester Business School

Jean Shaoul

University of Manchester - Division of Accounting and Finance

Date Written: February 2011

Abstract

At its inception, the NHS was structured as a public corporation, which owned its hospitals. Sixty years on, hospitals are business units or Trusts, which are responsible for capital investment in a local region. The Private Finance Initiative (PFI) has become the predominant mode of financing new hospitals. This paper's purpose is to review the impact of PFI. A literature review traces the various stages of the NHS' hospital investment programme and the research method is a case study. The findings show that PFI is leading to additional costs and complexity that make the achievement of the NHS's objectives difficult.

Keywords: capital investment, private finance initiative, public private partnership, monitoring performance, NHS hospitals

Suggested Citation

Stapleton, Pamela and Stafford, Anne and Shaoul, Jean, NHS Capital Investment and Pfi: From Central Responsibility to Local Affordability (February 2011). Financial Accountability & Management, Vol. 27, Issue 1, pp. 1-17, 2011, Available at SSRN: https://ssrn.com/abstract=1746633 or http://dx.doi.org/10.1111/j.1468-0408.2010.00508.x

Pamela Stapleton

University of Manchester ( email )

Oxford Road
Manchester, N/A M13 9PL
United Kingdom

Anne Stafford

University of Manchester - Manchester Business School ( email )

Booth Street West
Manchester, M15 6PB
United Kingdom

Jean Shaoul

University of Manchester - Division of Accounting and Finance ( email )

Manchester
United Kingdom

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