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  • Submitted: Jul 01 2013 02:06 PM
  • Last Updated: Jul 01 2013 02:06 PM
  • File Size: 436.4KB
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Download Social Finance - Investing in Shared Lives July 2013

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New research carried out by Social Finance and Community Catalysts, published 1 July, shows that Shared Lives schemes, an alternative to home care and care homes, are considerably cheaper than other forms of long-term care – the average net savings from a long-term Shared Lives arrangement per-person per year are £26,000 for people with learning disabilities and £8,000 for people with mental health needs.

Shared Lives is an alternative to home care and care homes for people in need of support. 150 Shared Lives schemes across the country currently support 15,000 care placements, often involving the individual in need moving into the carer’s house and becoming part of their family. The social benefits of the scheme have been well-documented and Shared Lives schemes consistently receive the highest ratings from the Care Quality Commission.

The scope for expansion is significant. Over the last six months, with support from the Cabinet Office, Social Finance, Shared Lives Plus and Community Catalysts have been working closely with four local authorities –Lambeth, Leeds, Manchester and Newham – to explore a model for expanding Shared Lives with social investment.

Social Finance, Shared Lives Plus and Community Catalysts launched this research report on 1st July at the Royal Society of Arts (RSA). The report includes a breakdown of costs for Shared Lives schemes and other forms of care. It also includes details of the newly launched Shared Lives Incubator, which will provide a combination of upfront investment and organisational development to expand Shared Lives schemes across the country.

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