Efficient Price definition
Examples of Efficient Price in a sentence
This represents the total additional cost of providing the existing services in the previous year above the State Efficient Price.
This represents the additional cost per NWAU that the District/Network has incurred over the State Efficient Price to deliver each unit of activity.
In further developing the NSW Funding Model, a Cost-Price Adjustment will be applied where a District/Network’s Projected Average Cost exceeds the State Efficient Price.
Where the PAC exceeds the State Efficient Price, an ‘adjustment per NWAU’ is calculated against the base activity only.
The NSW State Efficient Price for 2024-25 has been informed by the Cost per NWAU data of the 2022-23 DNR Clinical Costing Study.
In the 2021-22 model, the variable component for delivering activity in NSW Small Hospitals has been pegged to the 2021-22 State Efficient Price of $4,931.
For Districts or Networks with a Projected Average Cost (PAC) that exceeds the State Efficient Price the difference between their specific PAC and the State Efficient Price will be addressed by a Cost-Price Adjustment (refer below).
Purchased activity and the related funding will be withdrawn at 100% of the Queensland Efficient Price and reallocated to an alternate provider that can undertake the activity.
Under delivery of in-scope activity, as defined in the Activity Reconciliation specification sheet, will be withdrawn from the HHS at 100% of the Queensland Efficient Price (QEP).
In the 2022-23 model, the variable component for delivering activity in NSW Small Hospitals has been pegged to the 2022-23 State Efficient Price of $5,095.