What cost effectiveness data can we collate ahead of the major 'being there' study that will take two years to complete?
Recent research has been undertaken on a specific service in Wales, which uses Social Return on Investment (SROI) to estimate the financial value of outcomes attributable to the sight loss adviser service. This demonstrates savings to health and social care and cost effectiveness of providing early intervention and support through the sight loss adviser service.
This full time, well established sight loss adviser service is estimated to net total annual savings to health and social care budgets of £377,938.
Return on investment
To calculate the ‘return on investment’ ratio savings are divided by total sight loss adviser service costs. In this case study annual service costs were £35,760 (combining the salary and employer’s costs such as training, travel and management cost).This equates to a return on an investment of £10.57 for every £1 invested.
Savings to health and social care budgets as a unique result of the sight loss adviser are estimated at £10.57 for every £1 invested.
RNIB has also commissioned a large economic evaluation to measure the overall cost effectiveness of the sight loss adviser role(This data will be available in 2015)