It’s very accurate. The average correlation between assessed needs and the cost of care in our algorithms is over 0.9. Comparably, other resource allocation systems tend to result in a correlation of 0.7 or lower. The higher the correlation, the greater the accuracy.
An accurate algorithm can produce substantial financial savings compared to a less accurate one. This is because in practice, ‘over-allocation’ tends to be difficult to notice and control, whereas ‘under-allocation’ tends to be simply topped-up to the ‘correct budget’ and no higher.
Formulate allows you to focus on the thing that matters: helping people to put support into place that works for them, whilst keeping your organisation ‘within budget’.