Sector thinktank NPC has two articles looking at where we are with Payments by Results and its “natural partner”, Social Impact Bonds.
‘Making sense of payment by results‘ starts with
While not as newsworthy as it was three or four years ago, PbR has steadily become a common commissioning model. In 2015, the National Audit Office identified 52 schemes containing an element of PbR in the UK, worth a total of £15bn of public money.
The article is written by the developer of an interactive tool to help commissioners, investors and providers think through the many factors associated with choosing a PbR model, which is available from consultant Russell Webster’s website.
NPC’s chief executive meanwhile writes ‘Where are we at with Social Impact Bonds?‘ This puts a recent review of progress with SIBs (Social Impact Bonds: the Early Years) in context. His next blog will give more detailed pros and cons of SIBs, but here he does clarify that this approach just won’t be right for many social policy interventions, let alone all social organisations.