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Payment by results and social impact bonds : outcome-based payment systems in the UK and US

Author: Kevin Albertson; Chris Fox
Publisher: Bristol, UK : Policy Press, 2018.
Series: Policy Press shorts., Research.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
As public services budgets are cut, the 'Payment by Results' (or Pay for Success) model has become a popular choice in public sector commissioning. Social Impact Bonds are a variant of Payment by Results also promoted by proponents of social (or impact) investing. But how effective are these approaches? This short book asks whether the Payment by Results model is an efficient way to unlock new capital investment,  Read more...
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Genre/Form: Electronic books
Bibliography
Additional Physical Format: Print version:
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Kevin Albertson; Chris Fox
ISBN: 9781447340720 1447340728 9781447340744 1447340744 9781447340713 144734071X 9781447340737 1447340736
OCLC Number: 1028776737
Description: 1 online resource.
Contents: Intro; PAYMENT BY RESULTS AND SOCIAL IMPACT BONDS; Contents; Abbreviations; Notes on the authors; Acknowledgements; 1. Introduction: outcome-based payment and the reform of public services; Outcomes-based commissioning; The distinction between Payment by Results/Pay for Success and Social Impact Bonds/Pay for Success financing; Origins and scale; Some key questions raised by outcome-based commissioning; About this book; 2. Outcome-based commissioning: theoretical underpinnings; Introduction; Theories and objectives; Theoretical concerns; Conclusion. 3. Payment by Results and Social Impact Bonds in the UKIntroduction; Policy on outcomes-based commissioning; Payment by Results: extent and trends; Social Impact Bonds: extent and trends; Results to date; Conclusion; 4. Pay for Success and Social Impact Bonds in the US; Introduction; Extent and trends; Infrastructure; Evaluation approaches; Financial models; Conclusion; 5. Review of the evidence for outcome-based payment systems; Introduction; Results from UK programmes; Results from US programmes; Conclusion; 6. Conclusions, cautions and future directions; Introduction. The evidence to date on outcome-based commissioningWhere next for outcome-based commissioning?; In summary; References; Index.
Series Title: Policy Press shorts., Research.
Responsibility: Kevin Albertson [and five others].

Abstract:

As public services budgets are cut, the 'Payment by Results' (or Pay for Success) model has become a popular choice in public sector commissioning. Social Impact Bonds are a variant of Payment by Results also promoted by proponents of social (or impact) investing. But how effective are these approaches? This short book asks whether the Payment by Results model is an efficient way to unlock new capital investment, help new providers to enter the 'market' and foster innovation, or whether the extension of 'neoliberal' thinking, complexity and the effects of managerialism undermine the effective delivery of social outcomes.

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