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Payment by Results and Social Impact BondsOutcome-Based Payment Systems in the UK and US$
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Kevin Albertson, Chris Fox, Chris O'Leary, and Gary Painter

Print publication date: 2018

Print ISBN-13: 9781447340706

Published to Policy Press Scholarship Online: September 2018

DOI: 10.1332/policypress/9781447340706.001.0001

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PRINTED FROM POLICY PRESS SCHOLARSHIP ONLINE (www.policypress.universitypressscholarship.com). (c) Copyright Policy Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PPSO for personal use.date: 21 September 2021

Outcome-based commissioning: theoretical underpinnings

Outcome-based commissioning: theoretical underpinnings

(p.13) Two Outcome-based commissioning: theoretical underpinnings
Payment by Results and Social Impact Bonds

Kevin Albertson

Chris Fox

Chris O’leary

Gary Painter

Kimberly Bailey

Jessica Labarbera

Policy Press

This chapter discusses some key theoretical issues that are raised by outcomes-based commissioning. It begins by outlining three potential theoretical drivers of outcomes-based commissioning. First, Payment by Results (PbR)/Pay for Success (PFS) and Social Impact Bonds (SIBs) can be viewed as the logical next step in the New Public Management (NPM) reforms aimed at improving public sector efficiency. Second, they can be explained as an attempt by policy makers to deal with complexity in the social world. Third, they can be interpreted as a means by which policy makers seek to facilitate and develop new and existing philanthropic activity and social enterprise. The chapter goes on to consider the underlying theories and objectives of outcomes-based commissioning as well as how practice and theory may differ, focusing on issues relating to perverse incentives, conflicting policy objectives, risk management, and contracting. Finally, it examines questions of delivery and outcomes.

Keywords:   outcomes-based commissioning, Payment by Results, Pay for Success, Social Impact Bonds, New Public Management, public sector, PbR, risk management, contracting, PFS, SIBs

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