Background Commissioners of public services should already take account of evidence impact where appropriate as part of their evaluation when commissioning services. We believe that we should evidence our impact and value for money and be in a stronger position to deliver more to our community i.e. demonstrate our impact in monetary terms, how much value we bring for the money we receive.
Aim Establish and deliver implementation of an impact-reporting framework -identifying outcomes, their measurement and value. This project involved a predictive social value analysis that undertook a representative example of hospice activity upon which to base later monitoring.
Methods Independent company, Kingston Smith, commissioned to carry out relevant research. Mapped out plan for staff, volunteer, patient, relative and stakeholder engagement events, focus groups, surveys and telephone interviews. March 2019, report produced including end of year financial spend to calculate investment, determine impact, set up calculation model to track social value created by the hospice going forward.
Results Total value of impact captured within the scope of the study. Total value that is attributable to the hospice discarding value that is created by influences outside their activity. Return on investment identified – representing social value. Final report to the Board in July 2019 highlights the detailed calculations, but importantly identifies the range of outcomes experienced by stakeholder groups. The report details the context in which outcomes are created and how impact wholly attributable to the hospice is derived including how outcomes have been valued. A sensitivity analysis will test any remaining assumptions and include a range of ratios according to the variables.
Conclusions The full extent of this work will be realised over the coming year as we embed messaging about the impact of our work and its monetary value and see the response from beneficiaries, funders and the public.
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