
Outcomes-Based Approaches for an Equitable Recovery: A Memo to the Biden-Harris Administration
From the Social Finance Institute
From the Social Finance Institute
The Social Finance Institute, Workforce & Economic Mobility, Health
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As the Biden-Harris administration seeks to leverage limited resources to achieve profound social change, Social Finance proposes outcomes-based funding (OBF) as a powerful tool. OBF is a set of innovative financing strategies that tie funding to results, enabling the government to use taxpayer dollars to pay for outcomes that programs achieve, as opposed to services that those programs provide.
This memo outlines specific steps that the federal government can take to leverage OBF to advance economic mobility, improve health, and build a more effective government. The recommendations here are grounded in our work to help build the OBF field for the past decade.
Together, we can build an outcomes driven government that will enable Americans to enjoy healthier lives and greater access to economic opportunity and will ensure that our taxpayer dollars are delivering results.
The memo includes recommendations from our partners at America Forward, Results for America, JFF, and National Skills Coalition.
This Washington Post article describes PFS and how the model is being used in Connecticut, South Carolina, and Colorado to improve social outcomes.
In advance of spending ARPA funds, governments have an opportunity to make a few simple funding and operational decisions to focus on outcomes now in order to lay a foundation for better results later.
CTF worked with Social Finance to design an outcomes rate card (ORC), an OBF structure that includes a menu of high-priority outcome metrics CTF hopes to achieve and an associated payment, or “price,” for each…