Value for money

Value for money

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Value for money

It’s always hard to find a balance between good quality support and saving money. We offer both.

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People who have built independence and are more connected need less support. Whether it be a move into KeyRing from higher levels of support or a move on from KeyRing because they don’t need us anymore. The result is the same, people take control of their own life, contributing more in their local community and needing less formal support.

Less support = less cost = more independence = better life.

KeyRing support actively prevents the need for higher cost traditional approaches like supported housing packages. It prevents escalation of need and the costs associated with crisis support.

Housing Lin carried out an independent review of the financial benefit of KeyRing’s support to local authorities. The review illustrates how KeyRing networks achieve a net financial benefit of £131k per annum across 30 people. There is an estimated wider preventative financial benefits from the avoidance of crisis and non-crisis outcomes of £278K per annum.

 

An infographic. The title is “The KeyRing Way. Saving money and changing lives”. Underneath it says that the cost avoidance and cashable savings of 3 networks supporting 30 people is £131 per annum. Below that is says that there are £278k additional preventative savings from the following: 30% of Members avoiding psychiatric patient admission. 25% of Members no longer needing weekly social worker/care coordinator visits. 30% of Members who were at risk of homelessness avoiding eviction. 10% of Members no longer needing weekly visits from the Learning Disability Nurse. 25% of Members no longer needing visits from the Community Psychiatric Nurse. 20% of Members no longer needing weekly drug/substance misuse visits. The source for this information is Housing LIN.

Alan

Alan has been with KeyRing since 2015.

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During this time he has built up his independence and confidence and his need for support has reduced. This has saved an estimated £54,627 over four years*.

When Alan joined KeyRing he was in supported living with 24/7 support, sleep-ins and 1:1 support.

After six months we supported Alan to move into his own flat where he had 20 hours outreach support, as well as support from KeyRing.

After a further six months Alan was able to reduce his support to 15 hours outreach per week, in addition to support from KeyRing.

Support Included:

  • Setting up Life Line
  • Working with Alan’s appointee
  • Decorating, furnishing and looking after his flat
  • Support with budgeting and shopping
  • Managing his health
  • Attending network meetings and meeting other Members.

18 months later and Alan no longer needed any outreach support or a named social worker. He was able to:

  • Manage his own money, pay his bills and have some savings
  • Maintain his own home
  • Take the correct medication and work on reducing his weight
  • Take part in KeyRing activities and organise events with other Members
  • Travel around the country on days out and go on two holidays by himself.

*Based on typical local authority costs outside London

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