Evaluating SROI and Stakeholder Impact in PROMISE: A Community Pressure Ulcer Reduction Initiative

Evaluating SROI and Stakeholder Impact in PROMISE: A Community Pressure Ulcer Reduction Initiative

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Introduction - PROMISE Project for Pressure Ulcer Reduction

The assignment is based on the “Community Project Development.” To develop a community project, a suitable project has been chosen for the study. The selected project is PROMISE. The PROMISE can be described as “Pressure reduction through continuous monitoring in the community setting.” Therefore, the study will focus on the chosen community development project in brief. The study will also shade upon the SROI or the “Social Return on Investment.’’ Therefore, the study will also focus on its meaning and the implication process of the community development project. The stakeholder analysis will also be discussed in the study based on the PROMISE to develop the community project. The outcome of the study is going to describe the analysis of the stakeholders and the evaluation of the impact of the outcomes. The study will also be going to describe the indicators of the outcomes such as how they are identified and what they conclude from the outcome of the stakeholder analysis. The study is going to focus on the deadweight and the alignment of the dead weight with the outcome of the study. The study will also shade upon the Financial Proxy, which will be aligned with the outcome of the study. The study will also shade upon the new Inputs of the development project, which could be donations, staff time, etc. The final SROI will describe the final ratio according to the development project.

The Project

To develop a community project, a suitable project has been chosen for the study. The selected project in the study is PROMISE, which can be described as “Pressure reduction through continuous monitoring in the community setting”. This community development project is considered a quality improvement project. This project is used to identify the problems of the patient and the reduction of those issues by communicating with them in face-to-face interaction. These processes are based on continuous monitoring and the identification of the sustained pressure of the patient in the community, therefore based on the issues of the patient the helping stage will be formed by the use of the chair and mattress. This chair and mattress help to analyze the health issue associated with the problem ulcer and the monitoring of the issue (Cornwall.nhs.uk, 2022).

The study suggests that this community development project is focused on the careers and the trained clinicians for the better assumption of the issues of the patient and the identification of the supporting system to minimize their pressure by continuous monitoring of their situation. According to the previous study it has been stated that the “Cornwall Partnership NHS Foundation Trust '' provides the advantages of PROMISE to the patients (107 patients were included in the study) by the highly trained healthcare professionals. Four highly trained medical teams did the process. Therefore the team includes the three “tissue viability teams'' and“one well-trained team of district nurses'' in the southwestern part of England. Therefore, further studies suggest that the monitoring of tremendous and endless pressure has been useful for yielding better clinical results, decreasing the pressure, and developing patient compliance (Cornwall.nhs.uk, 2022). On the other hand, the outcome of the continuous monitoring results in the influential ulcer recovery rate which is 57%, and enables to determination of aspects that impact the rate of recovery, which includes the size of the ulcer and duration of the recovery time, nutrition to support the healing of the condition, and soothing use.

SROI

The term SROI represents the concept of the “Social Return on Investment.” This means the particular measurement tool is entirely based on the Outcomes of the investment. This model helps in the findings of the “Social, environmental and economic value” of an organization. The concept of SROI is based on a different set of principles (Ali et al. 2019). The whole concept of the SROI Principles can be described in Six steps and the steps are

1. The establishment of the scopes is the first priority of an organization, which helps to identify the “key stakeholders.”
2. After the engagement with the stakeholders, a company to find out the relationships between the incomes and the outcomes should create the “Impact Map”.
3. The third principle of this SROI shows the evidence outcomes that are based on the outcomes (Gosselin et al. 2019).
4. The establishment of the impacts is the fourth principle of this concept, which is based on the outcomes of the evidence, which are collected in the previous steps.
5. Calculation of the SROI is done in this step. This step involves the “benefits, subtraction of the negatives and comparison between the investments.”
6. Proper reporting is done in this step, which is embedded at the end of this case study (Lombardo et al. 2019).

Stakeholders

The Stakeholder analysis is considered the process of Identification of the stakeholders, assessment of the issue, and prioritizing the b target population who will be the most affected by the project. The progression of the stakeholders is based on the four steps that are as follows;

Identification of the Stakeholders

This part of the analysis suggests the identification of the stakeholders of the community development project. As per the study, the common stakeholders of the development project are the doctors, medical practitioners, medical service care providers, the patient who is suffering from the ulcer, suppliers, nurses, and other health care providers (Prem 2020).

Identification of the priority of the stakeholders

This part of the analysis is based on the identification of the priority of the stakeholders. The stakeholders may possess some positive priority therefore few also have several negative opinions over the community development project that has been chosen. According to the interest and the power grid, several positions can be allocated that are as follows

• People with high interest and power: the identification of those people is important to manage the project closely. And therefore a better action plan needs to be formed to satisfy those groups of stakeholders (nhs.uk, 2022).
• People with the least interest but high power: These stakeholders need to be satisfied by the action. The people need to prioritize the significant level that they should be offended with the plan of action.
• People with high interest but low power: According to the analysis, these kinds of people need to be informed from time to time. Therefore, they will help in the identification of the arising issues and they may be helped in resolving and mitigating the issue in the development project in the community.
• People with less interest and less power: these groups of stakeholders should be monitored regularly by communicating with them in effective conversation.

Identification of the key stakeholders

The identification of the key stakeholders is based on the understanding of the needs, feelings, thoughts, and opinions of the stakeholders about the community development project by communicating with them and increasing their attachment to the development project (Cornwall.nhs.uk, 2022). The key of the stakeholder can be analyzed by the financial interest of the stakeholders, the result of the project, and expectation of the stakeholders, motivation to the stakeholders and its effect, and therefore analyzing the positive or negative impact of the stakeholders on the community development project.

Outcomes

After stakeholder analysis, the outcome of the analysis has been recorded. As per the study, the outcomes of the analysis are based on the following;

Identified stakeholders:

As per the study the community development project that is selected in the study, PROMISE is mainly focused on the patients of the community who are suffering from various types of pressure ulcers. Therefore, pressure ulcer is considered an important topic of concern to the NHS. The important stakeholder of the development project is the patient. On the other hand, other stakeholders are the medical practitioners of the NHS, doctors, health care providers, and the nurses who will give the proper treatment to the patient who is suffering from pressure ulcers at the community level (Cornwall.nhs.uk, 2022).

Analysis of the priority of the stakeholders

As per the study, it is identified that the important stakeholders of the business development process who keep high interest and high power are the patients who are suffering from pressure ulcers. The stakeholders with the least interest but high power are the healthcare practitioners of the community development project. The stakeholders with high interest but low power are the family of the patient who is suffering from pressure ulcers in the community of Cornwall. nhs. uk, 2022). Therefore, the study also suggests that the people with less interest and less power are the suppliers of the medical instruments who are associated with the business.

Analyzing the key of the stakeholders

The stakeholder analysis helps to analyze the key aspects of the development process. The identified key substance is the monitoring of the pressure at a regular time, information from the stakeholders, and holistic approaches to identify the appropriate solution to the issues of the stakeholders. On the other hand, another key of the business project is the identification of the satisfaction of the patient and the rate of recovery of the patient (Cornwall.nhs.uk, 2022). As per the previous data the patient, the caregivers, and the family of the patient are feeling satisfied with the application of the pressure mattress and they feel that it is effective in reducing the problems associated with the sitting position and the spreading of the ulcer in the body of the patients.

Indicators

The project team of PROMISE can record the indicators of the outcome of the stakeholder’s analysis. The head of the time suggested that the evaluation of the impact of this community development project should be carried forward by the method of the survey on the group of the stakeholders of the business development project who are the a0ptient, healthy acre giver, the practitioners of the PROMISES.

The indicators of the stakeholders are analyzed by the survey within the patient of the PROMISES. The survey is done by the questionnaire method. The 16 weeks have been allotted for the survey process (Cornwall.nhs.uk, 2022). Therefore, according to the study based on the survey, it has been seen the situation of the patient and the time of the treatment of the patient. The achievement of the survey’s results in an increased number of supporting staff for the business project has been observed. Therefore, as a pervert, the survey local project group has been careful to monitor the patient at the community level. The survey also indicates the application of the technology is needed in the business development project (Cornwall.nhs.uk, 2022). Therefore, the study also suggests that the government sponsors need to be increased in the project to develop the business project. The radiators also suggest that the gathering of the stakeholder group also is implemented in the business project of the PROMISE. The stakeholders suggest that the participation of the patient may act as an indicator of the business. The participation of the patient may be increased by the communication with the patient and the involvement of the patient and the caregivers of the patients. The feedback from the patients and their caregivers acts as the indicators of the Stakeholders. The satisfaction of the patient with the service of PROMISE also plays as an indicator of the stakeholders of the business development process. The other indicator according to the stakeholder is the recruitment of the patient. The aim of getting 120 patients at the end of April has been achieved by the proper implementation of the project. The indicators show that patient recruitment plays an important role in developing the business hand in the achievement of the goals (Cornwall.nhs.uk, 2022). The implication can be done by assessing the pre-contemplation, contemplation, preparation, action, maintenance, and relapse.

Deadweight

Definition of the Deadweight

The loss of deadweight can be described as the expenditure on a community built by demand inefficiency, which happens when stockpiles and needs are out of tranquillity. Therefore, the examples of the dead weight associated with the high pricing set up by the company to increase the profit may hamper the ultimate result of the business project and the satisfaction of the patient. Deadweight loss is an important topic of concern in the business development project (Cornwall.nhs.uk, 2022). The deadweight loss can be created by the “Minimum wage and the living wage.” The formation of the loss in the deadweight can be caused due to the loss of the workers to excess pay for the workers and the prevention of the diminished able workers from conforming to their jobs.

 Therefore, the study also suggests that the loss of the deadweight can also be formed when the price of the product goes beyond the limitation and the budget of most of the service users, and the hazards are seen in the present control system of the business development. On the other hand, another deadweight loss can be created by the suppliers of the business, the interest of the common and the target people in the business, and the quality of the goods of the business. As per the study it has been stated that the over-taxes of the government on the business may create a deadweight loss (Cornwall.nhs.uk, 2022). Excessive taxes could hamper the praising of the product by increasing the price of the product, which leads to encouraging the target audience to adopt or purchase the product. Therefore, the study also suggests that the Monopolies along with the Oligopolies also increase the chance of the deadweight loss of the business.

Deadweight associated with the stakeholders

As per the study, the major Deadweight is associated with the stakeholders of the PROMISES

The major stakeholders are the group of the business. The satisfaction of the patient and the trust of the patient in the process of the start are important to determine the deadweight of the business. The other deadweight’s are the doctors and the trained nurse of the promises. The level of their training and their efficiency and potential to handle the mattress reduce the risk of pressure ulcers in the patient.

Deadweight associated with the priority of the stakeholders

The other dead weight of the PROMISE is associated with the priority of the stakeholders in the business project. The less interest of the stakeholders may initiate the deadweight loss of the business project (Cornwallft.nhs.uk, 2022). Therefore, the study suggests that the effective treatment, the effective result, and the continuous monitoring of their development project are responsible to reduce the dead weight of the PROMISE.

Deadweight associated with the key of the stakeholders

Therefore, the study suggests that the other important deadweight of stakeholders of PROMISE is the key of the stakeholders. The key of the stakeholders is important for the growth and the3 development of the business. PROMISE is a patient-cantered business development [project. The project continuously monitors the implementation, effect, and efficacy of the mattress to reduce the risk of ulcers that better the area of the condition. The analysis of the data plays an important role in the modification of the product. This PROMISE always stays very specific with the patient's choices and the demand of the patient according to their plan of the business (Cornwallft.nhs.uk, 2022). The incident helps to reduce the chance of deadweight loss in the business of PROMISE.

Financial Proxy

The financial proxy is mainly used for valuing the outcomes where no marketing values have been evaluated. The proxy in the SROI forms is a critical component that helps in exercising the valuation as some of those are mainly used for identifying the value outcomes and financial proxies. This kind of approach is mainly obtained through the consultation of the shareholders or indirectly through the research. The financial proxy is the most important avant-grade of the financial services, which is mainly built by the company on the foundation of the proprietary systems that helps in improving the way for improving the business (Lapod, 2020). Based on the overall outcomes, here the financial proxy has been evaluated.

Along with this, it has been evaluated that the proxy plan has highly based on the statement of stakeholders and outcomes. Based on the stakeholder analysis and their overall evaluation the overall proxy plan that is financial-based has been evaluated here. The financial proxies mainly in the analysis of SROI have been identified through using the technique of resource allocation for the stakeholder's outcomes of the justice system, case transactions for the material supports, and some relevant pReferences based on the techniques for the rest of the major stakeholders. The financial proxies are mainly based on the “value of outcomes” from the point of view of the stakeholders.

Based on the evaluation of this study, it can be evaluated that the main stakeholders of this development project are mainly based on the care providers, doctors, and patients who have suffered from the ulcer, suppliers, medical suppliers, nurses, and other providers who are included in the healthcare sectors (Ricciuti & Bufali, 2019). However, the priority of the stakeholders is one of the important aspects of the development of this project. Some of the positive and some negative outcomes have been also evaluated in this project based on the outcomes of the stakeholder analysis over the development of the community project.

Based on the analysis of people with high interest and power, it can be evaluated that those are the most important factors for the project development that helps in satisfying the stakeholders for the implementation of a better action plan. In that case, the stated preferences techniques need to be implemented that help in improving the market price value (Ali, Qureshi, & Mustapha, 2019). Based on the consultation of the stakeholders, it can be evaluated that the program of this development of this project needs to be done or changed with the same amount that is mainly called the “replacement valuation”.

From the analysis of the high interest and low power, it can be evaluated that all the people need to be informed within the accurate time that helps in identifying the arising issues. Due to that reason, they can easily mitigate and resolve those issues. By this stakeholder analysis, the value of the outcome stated that all of those resources need to be used in some different ways that help in reducing the crime factors and the overall value needs to be placed on the allocated resources.

Based on the stakeholder's consultation, it can be added that the cash transaction needs to be implemented that helps in more benefiting the project outcomes to the government (Jackson & McManus, 2019). Based on the overall outcomes, it can be stated that some of the financial proxies need to be found through which the positive outcomes can be evaluated. In the case of producing SROI, which is “social return on investment”, some of the financial proxies need to be included for calculating the social impact that helps in providing the monetary value. Some of the financial proxies are included global value exchange, HACT value calculator, and NHS reference cost.

NHS reference cost

The cost details of NHS references detail costs within every service have been done by the NHS providers was done. The annual update cost helps in scheduling the reference cost. However, the reference cost is highly included in the cost of social care and health (Teo et al. 2021). For improving the positive outcomes, it can be stated that the NHS reference cost is highly included in the cost range of social services. Due to that reason, all of those are included in the cost of range that helps in breaking down the local authority.

Global exchange value

The global exchange value is also referred to as the online database that helps in entering the search terms and seeing the kinds of financial proxies that have been available or used by the organization for the development of the project (makeanimpactcic.co.uk, 2018). In that case, some of the financial proxies which are included in the database provide system has been included that help in the “global value exchange” of the calculation of SROI.

HACT value calculator

The HACT value calculator is mainly referred to as the “housing association of the charitable trust”. As per the consultation with the outcomes of the stakeholders, it can be stated that the HACT proxies are mainly based on the community range of activities that help in broking down the value. As the income of this organization is lower than £250,000 the organization needs to purchase a license for nursing at these kinds of values.

Average costing

In determining the cost of this project, the organization needs to use some of the combined approaches that help in disaggregating the total volume figures and costs. However, the cost and volumes in the data pretend to the out-providence patients (Davies et al. 2019). Due to that reason, by the analysis of the outcomes of the stakeholders, it can be stated that the implementation of the average cost is $257 on average helps in the development of the project.

Forecast analysis

The planning process is one of the important financial proxies that help in encoding the organizations and their stakeholders that help in measuring the changes through the data collection process (Kalagnanam, Berthe, & Findlay, 2019). In that case, this kind of proxies is mainly found through the data collection process and relevant indicators that can help in capital investments.

Input

The above evaluation has stated that financial proxies are one of the important aspects of evaluating the project value outcomes. Apart from this, some of the major aspects need to be implemented that help in improving the project outcomes. For the improvement of the projected figure, donations, money investment, and staff time need to be done that help in getting the final product. Mainly including those kinds of input, the final product can be improved which helps in evaluating the project development. For the increasing rate of pressure ulcers, mainly these kinds of chairs have been evaluated. However, based on the approaches of the stakeholders all of that input needs to be done.

The input of money

Money is the main thing through which the development of the overall project can be done. By the implementation of money, mainly the return investment also can be achieved. To reduce this kind of ulcer this chair is most important because it is made up of the latest technology (Correa, 2021). Due to that reason, some the major investment needs to be done for making this kind of chair. However, the stakeholders and the hospital authority can do the input of money.

Input of volunteer

However, the implementation of volunteers needs to be done for the project development. The campaign process needs to be done for growing the demand for those kinds of chairs for ulcer patients. Due to that reason, volunteer implementation is one of the main steps through which project development can be done (Eckardt, Font, & Kimbu, 2020). However, the volunteers also help in spreading the awareness of this project to the community, which also helps in improving the investment return approach.

Input the staff time

The implementation of the time of the staff is one of the important factors in figuring out the project outcomes. The time of staff helps in improving the analysis of the stakeholders and helps in making a clear budget. However, the time of the staff helps in proper planning and executing the development of this project by reducing the risk factors (Valentin, Naderpajouh, & Abraham, 2018). On the other hand, the implementation of the staff time needs to be done that helps in properly executing this project. All of those implementations help in the figure out the project plan and benefits.

SROI

Table 1: SROI

Analysis

As per the analysis of the study, it has been seen that the main input of this activity SROI analysis is highly based on the input of staff, volunteers, and money. Along with this, the overall outputs that have been stated here are based on the analysis of the priority of the project and the analysis of the major stakeholders. Due to that reason, the inputs and outputs have shown that both are based on each other which means that the analysis needs to be 1: 1 for measuring the impact of Cornwall. nhs. uk, 2022). Due to that reason, the main impacts have been evaluated here, showing that the main impact is that the figure-out project development has been done by the outputs and inputs.

Conclusion

The whole topic is based on “Pressure reduction through continuous monitoring in the community settings.” The assignment is completely based on the development of the quality in the patients with the help of modern technologies. The chairs and the mattress, which is part of this technology, help in the monitoring of the body parts of the patients, which can put a revolutionary effect on the health care system. “SROI” is used in this research to analyze the investment and the marketing value of the products, which are very much helpful for the development of the organizations. As per the case study, continuous pressure checking was done which gave a proper analysis of the patients, as a result, the healing rate reached 57% which is very much necessary for the development of the health care system all over the country. This innovative concept in the medical field is very important for the development of the patient and the practitioner's relationships. 

Different Indicators were in this research for the development of the quality project in this medical field. In this whole study, the stakeholders are then patients, medical professionals, and the staff who are part of the medical healthcare system. The SROI table represents the financial data that is taken from the market value and represents the social and environmental value. The input is the different types of strategies and the models, which help in the development of the marketing value of the health system all over the country. The financial proxy is associated with the information and the exchanges in the commissions which shows the relationship between the products and the patients who are directly linked with the development of the project by the use of those modern technologies. Overall, the evaluation of the study is helping in the development of the patient monitoring with the futuristic technologies.

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