Sorenson Impact Center and Social Finance July 12, 2018
The Sorenson Impact Center and Social Finance have re-opened their nationwide competition to develop Pay for Success (PFS) projects that expand high-impact social interventions and measurably improve the lives of those in need.
Last Thursday evening, government leaders, service providers and impact investors gathered in one of the largest meeting rooms in the Capitol to celebrate the Social Impact Partnerships to Pay for Results Act (SIPPRA), the historic federal Pay for Success legislation passed earlier this year.
We are excited to launch the third round of our Outcomes Rate Card Development Competition, to help governments scale solutions to society’s most pressing challenges by shifting the procurement focus from outputs to outcomes.
At its core, Pay for Success is about improving outcomes. At the heart of all its components unique public-private partnerships, investor classes, cost-benefit analyses, access to administrative data, evaluator methodologies, legal structures, to name a few—is a shared focus on outcomes.
The Massachusetts Pathways PFS project is a pioneering example of how multi-year administrative data access can empower providers to customize service delivery to client needs, and infuse an outcomes focus into our workforce systems.