Rates of chronic homelessness, reoffending and hospital stays are all significantly lower among participants of an innovative program helping some of the community’s most vulnerable people.
Released publicly today, Social Ventures Australia’s Annual Investor Report details the positive impact of the Aspire Social Impact Bond Program on more than 500 participants experiencing chronic homelessness in South Australia.
Set up by Labor in mid-2017 and delivered by Hutt St Centre, in partnership with Social Ventures Australia and Housing Choices, the national-first, seven-year Aspire program is projected to generate $25 million in savings across areas including hospital, justice and housing services.
Program results show Aspire’s 575 participants have collectively reduced the number of:
- Days in hospital by 32 per cent
- Criminal convictions by 28 per cent
- Periods of emergency accommodation by 68 per cent
*each measured relative to previous service usage levels
In addition, 450 participants have been assisted into housing and with program support, most have rebuilt their lives in their new homes with 86 per cent retaining their tenancies.
Jobs have been secured by 188 people, despite only 20 per cent having a consistent employment history on entering the program.
Social Ventures Australia’s Annual Investor report projects savings of $25 million once all participants have completed their three-year support period. More than $12 million has been saved in the first five years.
Aspire’s assistance of participants out of homelessness through intensive, long-term case management has shown that sustained support can significantly reduce hospital stays, the need for emergency accommodation and exposure to the justice system.
Aspire was the first Social Impact Bond in Australia to focus on homelessness and represents a landmark change in the way homelessness services are provided for people experiencing persistent and complex homelessness.
Quotes
Attributable to Nat Cook
For many, this program has been life-changing. We are proud to have launched Aspire and prouder still of the positive impact it has had on so many lives.
By working long term with participants, trusting and respectful relationships have developed – something that is critical in this space.
This unique response provides the wider homelessness and community services sector with significant evidence-based findings about what works in helping people overcome their lack of a safe and secure place to live.
Today’s results show the benefits of intensive wrap-around supports for people who have experienced lengthy or re-current homelessness, who may have complex needs or other barriers to housing. This program shows what really works.
Attributable to Hutt St Centre Chief Executive Chris Burns
Aspire has been a pathway to homefulness for hundreds of people who faced significant challenges in their lives, including poor health, mental health issues and wellbeing challenges.
In addition to State Government support, the program brought together private and corporate investors to create an investment stream that enabled more intensive and long-term support for vulnerable people than is usually possible.
Through intensive support such as connecting participants to wellbeing programs, helping them find appropriate housing, preparing resumes and finding meaningful employment opportunities, steering people to a healthier pathway and connecting them to their local community, we’ve been able to make a significant difference to the lives of some of the most at-risk members of the community.
The case management provided through Aspire augments the core work of Hutt St Centre as one of the few providers of primary care services for people at risk of or experiencing homelessness in South Australia.
