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Media release FROM THE OFFICE OF THE SECRETARY 26 November 2014 RELEASE OF COSTING OF ELECTION COMMITMENT Pursuant to section 6.45 of the 2014 Guidelines on the Caretaker Conventions the Department of Treasury and Finance (DTF) today released the costing of the following election commitment of the Liberal National Coalition Party of Victoria: Coalition 167 – Reducing readmissions for heart failure patients The election policy costing was completed in accordance with DTF’s Guidelines for managing requests from a political party for costing of its own policies (the policy costing guidelines) available at: www.dtf.vic.gov.au/election2014. The completed costing is attached to this media release. David Martine Secretary Department of Treasury and Finance Consistent with the DTF policy costing guidelines, the contact for Parties requesting DTF costings is: Mr Ismo Rama Telephone: 9651 5368 Email: [email protected] For media inquiries please contact: Mr Bruce Atherton Telephone: 0404 097 654 Email: [email protected] Department of Treasury and Finance 1 Treasury Place Melbourne Victoria 3002 Ph: +61 3 9651 5111 Fax: +61 3 9651 2062 Website: dtf.vic.gov.au Election 2014 – Policy costing Title: Reducing readmissions for heart failure patients Party making the request Name of policy Description of policy Date of public release of policy Date of receipt of request Additional information requested (including date) Additional information received (including date) Costing methodology used: scope of initiative; costing techniques; policy parameters; statistical data used; and Coalition Reducing readmissions for heart failure patients Heart Failure project seeks to reduce readmissions and improve outcomes for people with heart failure, and through the project develop a better understanding of system enablers for reducing readmissions. It will be closely linked to the Victorian Cardiac Clinical Network and the Heart Foundation. Unavailable 24 November 2014 DTF considers the cost estimate to be reasonable, noting that: the proposal appears to be a continuation of a joint study with the Heart Foundation to examine heart failure and its correlation to hospital readmissions; and funding is stated to be provided on a capped basis. behavioural assumptions used (as appropriate). The cost of the proposed output initiative for the forward estimates period is set out below: DTF costing of output initiative 2014-15 ($ million) 2015-16 ($ million) 2016-17 ($ million) 0.000 0.100 0.100 Four year total (2014-15 to 2017-18 2017-18) ($ million) ($ million) 0.100 0.300 The Coalition has included an estimate for 2018-19 of $0.1 million. DTF has undertaken a costing of this figure and considers $0.1 million to be a reasonable estimate for 2018-19 and notes that this would bring the total estimated cost of the proposal to $0.4 million over five years. DTF comments section Where relevant, includes separate identification of revenue, expense, asset and liability components. Where appropriate, includes range for the costing or sensitivity analysis. Caveats or qualifications to the costing. Associated material: Copy of request as received by DTF and any additional information requested by DTF from party. Title: Reducing readmissions for heart failure patients 1