Social Finance

The risky business of Social Impact Bonds

Will SIBs become a mainstream way of funding public services? My take on new Social Market Foundation report. “Effective transfer of financial accountability is the holy grail of public service reform” The main mechanism for this has been payment by results with which Social Impact Bonds are closely associated. Social Impact Bonds and PbR appear to be a good fit:

Eight ways to muck up payment by results … and a few ways to improve it

00000Toby Eccles is the founder and Development Director at Social Finance. This post originally appeared on Toby’s personal website. You can follow Toby on Twitter @tobyecc Eight ways of mucking up outcomes based contracts Payment by results has been getting a lot of grief recently. Some of it deserved. The compulsion for revolution rather than evolution, and poor contracting and procurement practice have combined to create a heavily loss making industry that is not generating outcomes. …

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Warm the market to avoid getting your fingers burnt

00000Ten things I learnt from the CBI Payment by Results Conference I thought readers might be interested in what I gleaned from the PbR event hosted by the CBI this Monday (14 January 2013). There was an interesting line up of speakers including: Senior figures from large private sector providers who make much of their income from delivering public services (G4S, Interserve, Ingeus) Senior civil servants – Will Cavendish from the Cabinet Office; Ian Poree, …

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How should we measure recovery from addiction?

00000Measuring recovery The biggest challenge of the drug recovery payment by results pilots has been agreeing a simple but robust measurement system to report on whether new approaches to drug treatment are successful in helping problem drug users stay clean and lead constructive and fulfilling lifestyles. There was an extensive public consultation about what these outcome metrics should be and, even though they have recently been updated, it’s far from clear whether they will work in …

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Measuring PbR outcomes – when worlds collide

00000Commissioning by outcomes is always right, public money should be focused on what we want to achieve – people in work, off drugs, no longer offending (as argued recently on this Blog). But measuring outcomes is difficult which is why, in the past, we have mainly settled for counting activity – the number of sessions delivered, action plans completed etc. instead. Measuring outcomes is particularly difficult in ‘payment by results’ schemes, where it is especially …

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