Randwick Waverley Community Transport

Transcription

1 Randwick Waverley Community Transport Final Report 30 October 2017 Aaron Wong Arthur Lee Clara Chow Matthew Yan Spencer Hu Su Geik Tan

2 Table of Contents Introduction What is SROI? Key drivers in the model Model outcomes INTRO 2

3 What are we here to solve? Problem Randwick Waverley Community Transport currently does not have a specific measure of its social impact Key question How can RWCT measure its social impact? Solution Develop a model to specifically quantify RWCT s social impact INTRO 3

4 Services Model structure SROI Inputs Impact Monetary inputs Outcomes Non-monetary inputs Total number of clients divided across each service INTRO 4

5 What model? A Brief Introduction to Social Return on Investment modelling

6 Our solution is a Social Return on Investment model Social Return on Investment is a framework for measuring and accounting for the social and economic costs and benefits of an organisation SROI = Total social and economic impacts Total inputs required Not all social returns have a dollar value, but money is used as a common unit to understand the amount of value being created As requested, our SROI is an evaluative model, looking at the value of the outcomes that have already taken place SROI 6

7 SROI represents your organisation s impact in one simple metric SROI is a ratio showing how much benefit $1 of investment delivers in social value, but it is much more than just a number Effectiveness Quantifies the return on investment Efficiency Allows for comparison against other organisations and benchmarks Informing the future Understand where changes can be made in the future to increase impact SROI 7

8 The metric produced through SROI is very useful Facilitates strategic discussions and helps you understand and maximise the social value an activity creates Helping you specifically identify your impact on all stakeholders, both positive and negative Improves dialogue with stakeholders that enables them to hold the service to account and involves them meaningfully in service design Provides a persuasive case for further funding by being able to demonstrate a quantified impact SROI 8

9 Producing an SROI model involves four key steps 1 2 Identifying key stakeholders and outcomes to each: Clearly establish the scope of the analysis and the outcomes that will be considered Evidencing and valuing outcomes: Identify the relationship between inputs, outputs and outcomes, and collect data to value these 3 Calculating the SROI: Add up all the benefits, subtract any negatives, and divide the result by the investment 4 Reporting this information in a useful way: Share findings with stakeholders, verify results, and use the insights to improve for the future SROI 9

10 There are some downsides to using the SROI method Significant degree of subjective judgement required to identify measures Missing outcomes data requires assumptions or omissions which may underestimate or overestimate results Comparisons can be difficult due to differences with other organisations SROI 10

11 Model drivers Explaining the drivers that underpin our model

12 Your inputs are made up of contributions from government, clients and community Government grants Client fees Donations Other income Value of volunteer hours Monetary inputs Non-monetary inputs KEY DRIVERS 12

13 Your organisation impacts four groups of stakeholders Clients Community & Government Staff & Volunteers Client Family & Friends KEY DRIVERS 13

14 Your clients derive 4 key benefits from your services Key benefits Independence Improved access Improved health Increased social interaction Are derived from the services you provide Access to social activities Access to medical services Access to other services/activities KEY DRIVERS 14

15 There is significant value in enabling your clients to continue to live independently Calculation Cost of assisted facility care minus Cost of living independently Key assumptions Low to medium care needs Single individual Modest lifestyle Key data Elderly Cost of assisted facility care = $36,235/yr Cost of living independently = $24,250/yr Disabled Cost of assisted facility care = $40,243/yr to $57,038/yr Cost of living independently = $35,114/yr KEY DRIVERS 15

16 Improving accessibility and mobility adds significant value to your clients Calculation Cost of next best transport option minus Cost of RWCT service Key assumptions Different clients would take different transport options depending on their abilities Public transport Cost assumption: Pensioner bus/train fare Transport alternatives Private transport Cost assumption: Average taxi fare of $25 Friend/Family Cost assumption: Average car operating costs KEY DRIVERS 16

17 Relationships with friends and family have real monetary value Friends Family $ $ Value of having a strong social network Value of seeing family regularly Source: American Heart Association KEY DRIVERS 17

18 Relationships with friends and family have real monetary value Friends Family By bringing friends and family together, RWCT greatly improves the lives of their clients $ $ Value of having a strong social network Value of seeing family regularly Source: American Heart Association KEY DRIVERS 18

19 Physical activity is very important to an individual s lifestyle and this benefit can be quantified Improved mental health Prevention of cardiovascular disease Reduced risk of obesity Source: Journal of Socio-Economics KEY DRIVERS 19

20 Physical activity is very important to an individual s lifestyle and this benefit can be quantified Improved mental health 30 minutes of walking a week could save Prevention $2500 of a cardiovascular year disease Reduced risk of obesity Source: Journal of Socio-Economics KEY DRIVERS 20

21 Not all activities provide the same level of benefit so weighting is necessary Physical activity Social life Living Independently Alternative Transport Movie nights Shopping Individual transport Club lunches Weighting amounts have to be decided to provide a true value for each activity KEY DRIVERS 21

22 Drivers, volunteers, community and government also benefit Benefits to drivers, community & government Consumer Spending Value of increased consumer spending The gain of a sale that a local business/grocery makes as a result of RWCT Improved Health Cost savings to government due to avoiding missed appointments Monetary value of improved health outcomes Drivers & Volunteers Intrinsic benefit to drivers & volunteers Improved employability & skills Improved mental & physical health KEY DRIVERS 22

23 The community benefits from increased consumer spending Average spend per client Average value of $50 Sensitivity analysis will be taken Number of shopping trips per client We assume one shopping trip per week Total shopping trips per year approx. 52 Probability Less probability of making the trip without access to community transport Probability of 50% Assumptions Average shopping value of $50 The business would otherwise lose a sale Source: Research into the Social and Economic Benefits of Community Transport in Scotland KEY DRIVERS 23

24 The government benefits from health-related cost savings Missed appointments Cost of missed hospital appointment = $125 Number of total medical trips From your data we found 356 hospital trips and 135 GP visits in 2016 Probability Less probability of making the trip without access to community transport Probability of 50% Assumptions Accurate proxy Probability of 50% similarly applies to medical visits Cost of late detection has too many external factors not contingent on CT Source: Reducing missed outpatient appointments at St Vincent s Hospital Sydney, NSW Government KEY DRIVERS 24

25 Preventative health benefits reduce the costs to society of inactivity and poor mental health Improved Health Value of physical inactivity = $167 Value of mental health: Session = $246 Number of total medical trips From your data we found 356 hospital trips and 135 GP visits in 2016 Probability Less probability of making the trip without access to community transport Probability of 50% Assumptions Improved health savings contingent on improved physical/mental health rather than reduced unnecessary medical treatments from early detection Source: The cost of physical inactivity, Medibank; Recommended Fee* for Psychological Services, APS KEY DRIVERS 25

26 RWCT provides valuable transport to and from hospital appointments, reducing the need for expensive overnight hospitalisation Cost of Hospital Bed Cost of hospital bed per night: $803 Number Clients From client data 356 clients had trips to the hospital Probability Proportion of admissions requiring overnight stay without RWCT Probability of 50% Assumptions Accurate proxy That a probability of 50% is an accurate representation of reality Source: Victorian Government Department of Health KEY DRIVERS 26

27 Your drivers also benefit the service that they are providing Improved skill-set Cost of disability handling training = $320 Cost of advanced driving training = $315 Improved physical & mental health Increase social interaction = $97,265 Improved physical health = $ Improved mental health = $2,460 Drivers Multiply total cost/benefit to driver by the number of drivers Less probability of having job elsewhere Assumptions Employability is measurable via value of skillset i.e. development program Actual numbers will need to be acquired for program costs Same measure for social interaction applies Source: Disability awareness training, Ombudsman NSW; Advanced driver training, Sydney Motor Sport Park KEY DRIVERS 27

28 The families and friends of your clients benefit from increased free time 1) Increased free time Quantifiable Key Drivers 2) Increased contact with family members Difficult to quantify 3) Reduced concern/anxiety Difficult to quantify KEY DRIVERS 28

29 The key benefit for family is from increased free time Increased free time = Number of affected family members X Average time saving X Value of recreation/hour Number of affected family members One family member who has to provide transport Average Time Saving Travel time to and from destination, plus time to return home Assumed 3 hours Value of time saved Minimum wage $18.29 per hour KEY DRIVERS 29

30 Outcomes Quantifying how your organisation benefits the community

31 Your organisation generated $15.55 for every $1 inputted in SROI = ( ) Total social and economic impacts = $29,525,635 Total inputs required = $1,899,124 SROI = $15.55 in benefits to society for every $1 contributed ( ) Annual SROI OUTCOMES 31

32 These benefits are broken down by service type $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 Impact by service type $ Day Care Social/Recreation Shopping/Access Hospital GP/Specialists Other Impact by service type in % 1% 5% Day Care Social/Recreation 28% 39% Shopping/Access Hospital GP/Specialists Your organisation s social impact has grown in the past 5 years at an annualised rate of 4.06% Social/Recreation trips make up the largest proportion of social returns 16% Other OUTCOMES 32

33 Thank you Any questions?