SPRINT 4th Newsletter

SPRINT 4TH NEWSLETTER

The SPRINT project aims to give meaning to the concept of social investment as applied to long-term care provision.

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DESCRIPTION

DATE AND TIME

The conference on “Social investment in a ordable and quality long-term care. Theory, challenges and applications” will take place on the 30th of October 2018, from 14:00 to 17:00, at the European Parliament, in Brussels.

30th October 2018

The SPRINT consortium is inviting policy makers, researchers, care providers and other key stakeholders, to discuss the challenges associated with the application of the concept of social investment to the provision and resourcing of long-term care.

The EU faces a major challenge: How can it deliver the new social right to a ordable longterm care of good quality as its working-age population shrinks and the share of those of retirement age expands? Long-term care is a long-term issue: Eurostat projects that by 2080 those aged 65 and older will account for 29.1% of the population (compared with 19.2% now) and the share of those aged 80

2:00 PM – 5:00 PM CET

LOCATION European Parliament 60 Wiertzstraat 1047 Leopold Quarter Belgium View Map

and older will more than double (from 5.4% to 12.7%).

Social investment has been a strategic policy response to new social risks. What does this approach have to o er for tackling this challenge?

The SPRINT research project was funded by the European Commission to explore the application of the concept of social investment to the challenge of long-term care provision. At this event SPRINT partners, together with policy-makers, other leading researchers, and social investment specialists will o er Policy perspectives Research ndings Analytical tools Innovative approaches to social nance This is an opportunity to hear and share new ideas and to network with others interested in this issue.

The conference is hosted by MEP Miltiadis Kyrkos, Group of the Progressive Alliance of Socialists and Democrats in the European Parliament.

The conference is supported by the European Social Observatory.

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Feasibility Framework Tool for Social Investment in LTC

The SPRINT Project developed “Feasibility Framework Tool for Social Investment in LTC” is to provide an indication of the costs and outcomes associated with LTC as a mean to understand the Social Return on Investment (SROI).

It requires users to answer a series of impact questions. These are generally agreed upon dimensions that allow us to account for the key issues associated with the impacts of activities.

The tool is designed to provide decision-makers with information about the outcomes of social investment in long-term care. The tool can be used for both ex-post and ex-ante analysis.

S TA R T T H E P R O C E S S N O W

Furthermore, it allows users to include tangible and intangible outcomes of LTC interventions for a range of stakeholders/actors. It is recommended that the user should answer the questions with reference to the Principles of Social Value and SROI that place importance on the involvement of stakeholders to understand the relevant outcomes of LTC and their signi cance.

To calculate and understand the relative importance of di erent outcomes it is important that outcomes are presented in the same language as their costs of production. Financial proxies are used to

For value of di erent outcomes. th e represent SROIantangibl outcomes suitable proxies are readily available, often in the form of opportunity or replacement costs. For intangible outcomes such as changes to health and wellbeing, nancial proxies are less concrete. It is also less likely that this evidence currently exists.

Therefore, alternative nancial proxies have been included that are intended to demonstrate the potential to value such changes. These are based on existing evidence and research and converted into values for the di erent European nations. It is however recommended that locally-speci c values are included as approaches develop and mature.

Challenges and Tools for Social Investment in Long-Term Care, Social Impacts of LTC

Watch SPRINT video on Challenges and Tools for Social Investment in Long-Term Care, Social Impacts of LTC

Policy Brief

Τhe SP RINT proj ect recognises the challenge that European countries face to nd adequate and sustainable ways to address the long-term care (LTC) needs of older people.

Moreover, the greatest challenge when identifying cost-e ective opportunities for Social Investment in LTC is the measurement of the social impacts generated by LTC services and policies. in particular, this measurement requires the development of metrics and methods for assessing a wide range of economic and social costs and bene ts.

This Policy Brief 2 draws together SPRINT research to examine the opportunities and challenges for measuring the social impacts and economic returns of LTC services and policies.

SPRINT infographic presents Key Facts about Long-Term Care needs and spending in the EU

The SPRINT Project has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement No 649565

Copyright Š 2018 SIGNOSIS, All rights reserved.

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