Social Impact Bonds: The Role of Private Capital in Outcome-Based Commissioning
"The findings of this paper suggest that private social investment helps overcome some of the existing limitations of PbR contracting by, inter alia, re-distributing the financial risks of non-delivery."
This paper, written by Dr Daniel Edmiston and Dr Alex Nicholls of the University of Oxford, explores the subject of social impact bonds/payment by results and the effect private social investment has on outcome-based commissioning.
"The findings suggest that the introduction of private capital in outcome-based commissioning has had a number of unique and unintended effects on service providers, operations and outcomes. The paper concludes by considering whether social impact bonds represent a risk or an opportunity for public service reform both in the UK and further afield."
EDMISTON, D., & NICHOLLS, A. (n.d.). Social Impact Bonds: The Role of Private Capital in Outcome-Based Commissioning. Journal of Social Policy, 1-20. doi:10.1017/S0047279417000125