Payment by results and social impact bonds : outcome-based payment systems in the UK and US / Kevin Albertson, Chris Fox, Chris O'Leary, Gary Painter ; with Kimberly Bailey, Jessica Labarbera.

Format:

Book

Author/Creator:

Albertson, Kevin, 1963- author.

Series:

Policy Press shorts. Research.

Policy Press shorts. Research

Language:

English

Subjects (All):

Municipal services--Contracting out.

Municipal services.

Physical Description:

1 online resource (viii, 136 pages) : digital, PDF file(s).

Place of Publication:

Bristol, UK : Policy Press Shorts Research, 2018.

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, 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. Synthesising lessons from the UK and US for the first time, the book draws on published work in both countries together with insights from the authors' own research and consultancy experience to offer a balanced and bipartisan overview of a field where the evidence has been weak and there are strong ideological agendas in play.

Contents:

Front Matter

Contents

Abbreviations

Notes on the authors

Acknowledgements

Introduction: outcome-based payment and the reform of public services

Outcome-based commissioning: theoretical underpinnings

Payment by Results and Social Impact Bonds in the UK

Pay for Success and Social Impact Bonds in the US

Review of the evidence for outcome-based payment systems

Conclusions, cautions and future directions

References

Index

Notes:

Title from publisher's bibliographic system (viewed on 07 Apr 2022).

Includes bibliographical references and index.

ISBN:

1-4473-4072-8

1-4473-4074-4

1-4473-4071-X

OCLC:

1028776737