There is a growing evidence base on the positive impact of personalisation.
Evidence from NHS England shows 97% of people having a personal health budget reported a positive change in their wellbeing.
NHS England’s own figures show that across Continuing Health Care, personal health budgets can result in direct savings of up to 17%, and indirect savings of £4,000 per person.
However, NHS England acknowledges that much more needs to be done to assess the true efficiencies that can be delivered as a result of personal health budgets.
This is particularly true at a local level.
At Alocura, we understand the critical importance of assessing the benefits of personalised care and support.
When the benefits and cashable and non-cashable savings are fully understood and communicated, this helps secure internal buy-in for personal budgets and also helps increase demand and uptake. Furthermore, detailed analysis of efficiencies ensure best use of public funding and help to identify where there may be opportunities for additional savings.
Evaluating cost benefits
We establish baseline data to measure the cashable and non-cashable benefit of personalised care and support and of personal health budgets.
This could include, for example, measuring:
- Reduced number and length of hospital stays
- Reduced number of A&E attendances
- Reduced number of GP surgery attendances
- Condition-related measures e.g. blood sugar level, blood pressure, cholesterol levels.
Measuring social value
Social value is a means of evaluating Return on Investment in cash terms for ‘softer’ outcomes, for example, an increase in ‘quality of life’. We use ‘distance travelled’ measures to identify a person’s progress against a range of wellbeing factors. We also include an individual’s assessment of the degree to which the person feels in control of their own care.
We have also developed our own software tool – the Social Profit Calculator – in partnership with the Social Value Consultancy. This tool draws upon Treasury approved data from the Global Value Exchange and is accredited by Social Value UK.
Our Social Profit Calculator will ensure we can effectively measure the efficiency savings we create and measure our social impact in terms of wellbeing. The tool is designed to enable us to calculate both a combination of Cost-Benefit Analysis and Social Return on Investment by providing a cash figure for efficiency savings and social value.
Efficiencies flowing from market shaping activities
The team at Alocura has vast experience in the development and implementation of commercial models that can deliver cashable and non-cashable savings and we are now applying this experience to the benefit of the health and social care markets.
These transactions will be reported against existing costs in order to generate cashable efficiency reports.
Alocura’s procurement team will manage catalogue rates to ensure that prices remain competitive in the market. The team will also work with existing block contract suppliers to ensure that savings are returned to commissioners.