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University of Saskatchewan (USask) researchers used well-established methods to calculate the social return on investment (SROI) of Saskatoon's recently closed safe consumption site and have found that the location provided more than a 300% return on investment for the community.
While a standard return on investment (ROI) strictly measures money invested against dollars gained or lost, an SROI looks at economics alongside the social and environmental outcomes, expressing the broader impact in financial terms.
Using the SROI process developed by Social Value International, the research team assigned a dollar value to different aspects of the safe consumption site services, including the people who accessed the site and municipal organizations such as the Saskatoon Fire Department. These dollar values are decided upon by an internationally recognized framework and a process known as monetary value conversion. The total value was then divided by the amount it cost to operate the service to find the return on investment.
"We used a very conservative estimate to make sure we weren't overclaiming and found that for every $1 that was invested into the safe consumption site, you got a return of $4.44," said Dr. Linzi Williamson (Ph.D.), assistant professor of psychology and health studies in USask's College of Arts and Science.
The team recently published the findings of this study in Frontiers in Public Health . The paper outlines the research methodology used and depicts how safe consumption sites can positively impact individuals and have other benefits to the community, such as taking the strain off emergency services.
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