A forecast Social Return on Investment Analysis for Adult Social Care, Thurrock Council
Local Area Coordination is a new approach for Thurrock with the use of coordinators based in the community. It aims to ensure vulnerable people are better supported to find local solutions that enable them to build a ‘good life’ and are less dependent on other services as a result.
This first forecast analysis for Local Area Coordination is seen as the beginning of a journey to understand and quantify the social value achieved through the service and support further evaluative work on the impact of Local Area Coordination for both the individual and other stakeholders building on the work to date. The analysis used the methodology of Social Return on Investment (SROI) as set out by Social Value UK to understand the wider social, environmental and economic outcomes. By increasing the understanding of what changes, Local Area Coordination can continue to deliver positive social outcomes, optimising this further by identifying where the greatest impact is. The development of a monitoring framework would also enable the outcomes identified in this analysis to be captured to support the ongoing evaluation and realisation of the social value forecast.
This analysis identifies that Local Area Coordination is delivering real benefits to both the key beneficiaries and other stakeholders and supporting the aims of the Care Act 2014. If further funding was to be secured post March 2016, the reach and impact of Local Area Coordination over three years would be considerable with over £4.8m of social value created.
It is forecast that over £4.8m of social value will be created. Therefore, it is estimated that for every £1 invested, up to £4 of social value is generated. This is the predicted social value based on the assumptions in the report which has been externally assured. The forecast demonstrates that there are further outcomes for family members, Thurrock Council and the Local Community which are not included in the final calculation but, if realised, would increase the value even more. Furthermore, should additional Local Area Coordinators be recruited, this would significantly increase the social value predicted and enable more residents to receive support in the community.
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