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And colleges should make more effort to offer value for money.
Industries that cease to offer value for money sooner or later get shaken up.
In 2012 the NAO condemned the government contract with Atos for failing to offer value for money.
Old-fashioned colleges that fail to offer value for money, however, may find that their lecture halls start to empty.
Armed with hefty upfront loans (repayable only once the recipients are earning reasonable wages), students will deliver their cash to courses that seem to offer value for money.
This costing system explains why successive governments want to invest in high-speed rail rather than cycle lanes, and why multibillion pound road schemes which cut two minutes off your journey are deemed to offer value for money.
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Once the famous school can charge £6000 or £9000 a year, that opens the way for further education colleges in provincial towns to offer value-for-money degrees for, say £4000 a year.
Despite these perceptions, on average scheme members pay approximately eight times less for health care than non-members (16 AMD vs. 128 AMD), so that membership does appear to offer value-for-money (Sloggett 2002).
Decision models can be used to conduct economic evaluations of new pharmacogenetic and pharmacogenomic tests to ensure they offer value for money to healthcare systems.
One example is the routine use of cost-effectiveness analyses or health technology assessments to determine which medical technologies offer value-for-money.
You can take them as evidence of the BBC's eagerness to inform and offer value for money – look at what you get for £139.50 a year!
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com