Nurse in scrubs attending an older woman. Nurse is holding a clipboard and wearing a mask.

Insights

After the Pandemic: Addressing the Permanent Crisis With Pay for Success Programs

Tracy Palandjian and Paul Brest

From the Social Finance Institute

The Social Finance Institute, Homelessness, Economic Mobility

The effects of the COVID-19 crisis are expected to linger for many years to come. With these problems comes the opportunity to utilize Pay for Success programs in order to create long-term, meaningful impact, especially for vulnerable populations. By investing in more efficient interventions, governments can develop successful frameworks that pay based on outcomes rather than outputs. This article in the Stanford Social Innovation Review, written by Tracy Palandjian, CEO of Social Finance and Paul Brest, former President of the William and Flora Hewlett Foundation, explores how Pay for Success principles can help alleviate some of the burdens that governments face.

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Governments, service providers, philanthropists, and impact investors can harness the principles of Pay for Success to steer this unprecedented emergency spending toward catalyzing enduring improvements in the lives of society’s least well-off.

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