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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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Payment by Results and Social Impact Bonds in the UK

Payment by Results and Social Impact Bonds in the UK

(p.31) Three Payment by Results and Social Impact Bonds in the UK
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 the development of outcomes-based commissioning in the UK, focusing on Payment by Results (PbR) and Social Impact Bonds (SIBs). It first considers key policies that have underpinned outcomes-based commissioning in the UK since 2010 before analysing PbR programmes and SIBs in more detail, highlighting results and some of the important issues related to these areas of policy. It shows that the themes of New Public Management (NPM) and risk management are evident in the development of PbR and SIBs, whereas the theme of social innovation is present but less prominent. The chapter also provides an overview of the social investment market and two PbR programmes, namely, the Work Programme and the Troubled Families programme. Finally, it describes two SIBs: HMP Peterborough SIB and Nottingham Futures SIB.

Keywords:   outcomes-based commissioning, PbR, Payment by Results, Social Impact Bonds, New Public Management, risk management, social innovation, social investment market, Work Programme, Troubled Families programme

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