Overall, participants, employers and broader society have benefitted from our initiatives through:
- Increased or improved quality of life, community participation and capacity to return to work
- Reduced cost of absenteeism, increased workplace productivity and improved mental health outcomes
- Impacts on health system, decreased health costs and support for families and carers.
How we measure our impact
To measure our impact, we look at each project individually, and evaluate it across three key domains: whether it's achieving its project-specific outcomes; what process-related learnings can we use to inform future investments; and what the return on our investment is. Depending on the focus of the project, we look at whether there has been evidence the program is helping to:
- Reduce injuries on the road and at work
- Boost people’s physical, mental and social recovery
- Improve the long-term outcomes for people with permanent and significant injuries.
Are we helping the system to operate more effectively?
We also look at how each program is helping the NSW system. To this end, we analyse:
- How the funds are helping our partners assist their participants
- Whether the programs are improving research and program collaboration in NSW
- How the program is impacting evidence-based practice.
Are we delivering broad and diverse benefits?By funding innovation, we are trying to solve problems in a way that delivers broad benefits to the community of NSW.
Social Impact Report
In 2019 icare Foundation commissioned Urbis to undertake a social cost benefit analysis (SCBA) of our investments.
We used a SCBA methodology to analyse the impacts of 13 investments. The social cost benefit ratio measures direct economic savings and quantifies the value of social benefits across our system. The results in our Social Impact Report validate our strategy so far: all but one investment returned a cost-benefit ratio greater than one and two programs returned over $40 of social benefit for every dollar invested. What this tells us is that broad social and economic benefits were delivered to our workers, participants, employers and other stakeholders.