Webinar: Setting up the payment mechanism in an outcomes-based contract
24th October 10.00 to 11.30 organised by Government Outcomes Lab
About the session
This webinar session will discuss the key considerations that those developing SIBs and other outcomes-based approaches need to keep in mind as they build the payment mechanism for their SIB contract. The session will provide a wealth of practical advice and top tips on how to design a robust payment mechanism, using a range of real-life examples to illustrate the process of developing a payment mechanism.
Some of the questions that we will cover in this session include:Should the payment be 100% on outcome or should some proportion of the contract value be paid for activity rather than outcome? How can I make sure I am paying the right amount for the desired outcomes? How often should payments be made? Should payment be tied to an impact evaluation or administratively defined outcome measures?
Nigel leads the work of engaging government commissioners and other practitioners in the research and best practice generated by the GO Lab team. Prior to joining the GO Lab, Nigel was part of the founding team of West London Zone for Children and Young People, where he set up a 'Collective Impact Bond', which leveraged multiple public and private sources of funding to be paid when the children supported achieve positive results.
Mila Lukic is a Partner responsible for Social Impact Bond investments at Bridges Fund Management. In this role, Mila manages the Bridges SIB Fund, the world's first Fund dedicated to investing into social impact bonds. Bridges SIB Fund invested into over 20 SIBs so far across the following four policy areas: youth unemployment, children's services, homelessness and health and social care.
Catherine is an Economic Advisor to the Office for Civil Society in DCMS and leads the analytical team supporting the Centre for Social Impact Bonds. Prior to joining DCMS, Catherine worked across Whitehall in the (then) Department of Health on Financial Planning and in the Department for Transport on Aviation and Maritime analysis.
Find out more here