Financial sustainability
Ensuring the financial sustainability of adult social care services is important to Coventry’s commitment to meeting the evolving needs of our community. In this section, we outline our approach to financial sustainability, emphasising efficient resource allocation, value for money, sustainable funding, and robust financial planning. By strategically managing resources and fostering collaborative partnerships, we aim to optimise outcomes, deliver high-quality care, and promote the long-term viability of commissioned services in Coventry.
Resource Allocation: Allocate resources effectively and efficiently to prioritise areas of greatest need and achieve maximum impact in delivering adult social care services.
Value for Money: Ensure value for money in commissioning decisions, balancing cost considerations with quality, outcomes, and service user experience.
Sustainable Funding: Seek sustainable funding sources, including government grants, council budgets, and partnership funding arrangements, to support the long- term viability and stability of commissioned services.
Financial Planning: Conduct robust financial planning and forecasting to anticipate future demand, costs, and funding requirements for adult social care services in Coventry.