Using Cost Estimation to Inform Child Care Policy
Given the growing momentum for a better approach to rate setting, Prenatal to Five Fiscal Strategies (P5FS) has developed this guide to using cost estimation modeling to set subsidy rates, informed by experience working with New Mexico and the District of Columbia as well as dozens of other states and communities in recent years. The guide reviews costs to be included in a cost estimation model. It outlines a 4-stage process states can use including stakeholder engagement, data collection, model building, and scenario development. See this related webinar on Home-Based Child Care and Cost Estimation Modeling.