In the next of our series on better health and wellbeing in Wales, Cathy Madge and Anna Stielke at Public Health Wales explain why measuring social value is vital.
Social value refers to the changes in people’s lives and well-being that result from an organisation’s activities, policies, or decisions, from the perspective of the people affected.
Public health creates numerous benefits beyond just improving people’s health. Outcomes such as positive mental health and social well-being are hugely influential on our overall health, but they’re difficult to measure, quantify and value.
When measuring their economic value, because we can’t just supply these outcomes ‘on tap’, we can’t easily identify a price for them, i.e. they’re ‘non-market’ outcomes. This makes them hard to include in financial calculations and in spending and investment decision-making.
Social value is a way of describing social, environmental and community benefits. This means improved health, education, employment opportunities, community cohesion and environmental sustainability, and is how we demonstrate the impact of public health interventions.
UNDERSTANDING PREVENTION THROUGH A SOCIAL VALUE LENS
Health bodies and other organisations across Wales are prioritising preventative approaches for health and well-being as they offer a way to reduce not only the financial cost but also benefit people, communities and the planet.
Social value methodologies can clearly and easily help demonstrate the broader impacts of preventative approaches. Evidence shows that every £1 invested in public health interventions in Wales generates a return of £14, reducing the long-term burden and costs of ill health and enabling more efficient use of limited resources.
The voluntary sector plays a key role in providing preventative health and care services, from dementia services to craft clubs. This report demonstrates the economic contribution the voluntary sector makes while easing the pressure on statutory services like the NHS.
UTILISING SOCIAL VALUE IN THE VOLUNTARY SECTOR
Yet while voluntary sector organisations create significant social value through their work, they often don’t have the capacity or expertise to demonstrate it.
Based within Mantell Gwynedd, Social Value Cymru provides social value support, advice and consultancy services to voluntary sector organisations across Gwynedd and beyond. They’ve worked with a range of social businesses and charities to demonstrate their social value, including Barnardo’s, Rape and Sexual Abuse Support Centre and Carers Outreach.
Social Value Cymru provide training across North Wales to suit various requirements, have worked closely with other County Voluntary Councils and public bodies in North Wales and beyond.
Cathy Madge is the Programme Lead – Wellbeing Economy and Social Value, and Anna Stielke is the Senior International Evidence and Policy Officer at Public Health Wales.
Further information:
- Health economics and social value – Public Health Wales
- Mantell Gwynedd – Social Value Cymru
- Institute for Social Value
Find out more about WCVA’s work in health and social care here.