The social return on investment in community befriending

Abstract

Purpose – This paper seeks to illustrate the social and economic impact of services delivered by a small charity to families affected by post-natal depression (PND). It highlights challenges and offers insights to the meaning of “social value” and “value for money” for commissioners of public health services. This has relevance for the introduction of new policies regarding commissioning. Design/methodology/approach – The analysis is based on a social return on investment (SROI) approach. Evidence was gathered from quantitative data, interviews and a literature review. The analysis examined short-, medium- and long-term effects, and attributed monetary values to social outcomes. Findings – The service provides a return of £6.50 for every £1 invested. The analysis established outcomes for service users and long-term impacts on families and children. It illustrated how these services are important in achieving more appropriate service responses, providing value for money to the NHS. Findings also relate to the definition of “social value” and “value for money”. Research limitations/implications – There is no common accepted method for identifying financial values for a number of the benefits identified in this analysis. By being transparent in how the analysis was carried out, the paper encourages further critical thinking in this area. Practical implications – Engaging commissioners in this type of analysis may assist them in the use of economic evaluation that includes social values as an input to decision making. Originality/value – The paper contributes to the understanding of “social value” and “value for money” in the context of public services. This is of importance given that the Social Value Act and “Open Public Services” reform are being implemented in the UK.