After the Pandemic: Addressing the Permanent Crisis With Pay for Success Programs
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 (PFS) 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, written by Tracy Palandjian, CEO of Social Finance and Paul Brest, former President of the William and Flora Hewlett Foundation, explores how PFS principles can help alleviate some of the burdens that governments face.
“Governments, service providers, philanthropists, and impact investors can harness the principles of PFS to steer this unprecedented emergency spending toward catalyzing enduring improvements in the lives of society’s least well off.”