Overview
The personalisation agenda recognises the importance of individuality and a person’s right to exercise choice in their care.
Virtual Wallet provides an efficient and effective way to make direct payments to providers and manage grant applications, eradicating many of the challenges common with voucher, pre-payment card or direct payment schemes. Streamlining processes, minimising administrative costs and providing an easy to use and traceable payment solution, Virtual Wallet enables local authorities to meet their Care Act duties whilst delivering a better service.
The Mosaic integration with Virtual Wallet allows service users to have an overall view of their budget, including their own contribution, to easily self-manage their care. As well as one-off product purchases, Virtual Wallet also helps users order and pay for recurring services easily and efficiently. Service users or carers are able to see, book and pay for the total cost of service in a single transaction.
This ensures individuals continue to have choice and control over commissioned care, without the hassle of having to make payments themselves.
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Key benefits
For local authorities
- Eradicates cumbersome processes and reduces administration costs
- Full audit trail and rich reporting on spend, outcomes and market provision
- Automated claw back for underspend ensures all funding is used effectively and any underspend can be repurposed
- Better service and better outcomes for carers
- Reduces back office processes by integrating with the Mosaic case management system
For service users
- The process is incredibly easy for the carer as well as the local authority, as payments are processed directly to the provider without the need for an individual to setup a separate bank account
- An individual or carer can search a range of products or services and Virtual Wallet manages the end-to-end purchasing process, from initial enquiry through to booking and payment, with the cost deducted from their Virtual Wallet
- An individual can have more choice and control over their own care
- Funding can only be spent on activities benefiting individual’s or carer’s wellbeing
- Multiple purchasing routes are available such as buy-it now, quotes, re-orders and repeat service booking
- Fully transactional, open and searchable, helping users compare and buy products and services
- Fully scalable with flexible options for managing providers and the services they offer, encouraging competition and giving individuals not only more choice but also access to preferential rates
For providers
- Providers receive efficient payments from Virtual Wallet, benefiting their cash flow and ensuring they can concentrate on delivering high-quality services
- Reduces administration costs through the end-to-end system for managing orders and taking payments online
- Hassle-free onboarding service for providers with a built-in provider demo and training