How to do Benefits Realisation – where to start?
March 23, 2022 3:26 pm
You’ve probably heard of benefits realisation but what exactly is it and why is it so important in TECS?
Put simply, it is the identification, definition, planning, tracking and realisation of benefits. But what makes it so targeted to TEC and care is the practice of ensuring that benefits are derived from outputs and outcomes.
We talk of outcomes but if we’re not tracking and measuring them, how can we report on the successful outcomes of our TEC service, or adapt the service according to the shifting needs of its users? It’s simply about setting up the success factors and then measuring against it as follows:
(1) define a benefits management plan
(2) identify and structure the benefits
(3) plan the benefits realisation
(4) implement the change
(5) realise the benefits.
But it’s not just about the doing, it’s also about who is involved for its implementation and success. Creating a competent project team that will develop and deliver from the outset is key and allowing them a sense of ownership. Think of it as creating your benefits realisation dream team!
You’ll need to get buy-in from finance, representation from healthcare practitioners such OTs/social workers, input from the performance team (those who read and analyse the data), the IT people who manage the social care case management system, alongside the TEC team service provider. And finally, any supplier of solutions needs to make sure their language aligns with benefits realisation, that they fully understand it and can work with this team.
Having definition from the outset is crucial so you’re clear on what you’re looking to measure and making sure you have input from the recipients of the benefits (co-production). One angle for consideration is how can you articulate benefits for the health system, for example, would Primary Care feel the benefits?
Will it reduce ambulance call-outs?
What do you think the impact and benefit will be in terms of care packages, such as avoidance of residential care?
So, a tight focus on what will you measure, how will you measure and who’s going to pull off the data, analysis it and distribute and share insights?
Benefits realisation and co-production are two key enablers that form the foundation of TSA’s Personalisation Care Model. To get insights into how the enablers can help transform your TEC service and outcomes for your people, join us at ITEC Conference for some fascinating and targeted sessions on the Innovation Stage and Knowledge and Networking with the TSA Team of advisors who can help you map out your needs.