Privatization has become increasingly complex and sophisticated. It is no longer predominantly a relatively simple matter of purchasing contracts, but involves specialized contracts, performance-based measures, compliance programs, new forms of competition, and more. This sophistication allows more and more intricate services to be privatized, and increases accountability. Most importantly, state-of-the-art practices enable privatization to move beyond cost savings and towards quality improvements. Proper use of these techniques helps assure that privatization works, and that taxpayers get the most from the arrangement.