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What is pay for success?

Last Updated: Jan 14, 2016 06:12PM UTC
Pay for success, or PFS, is an innovative financing mechanism that shifts risk from a traditional funder (usually a government) to a new funder (usually a private organization or nonprofit). That funder expands (or “scales”) an evidence-based social program to improve outcomes for a vulnerable population. If an independent evaluation shows that the program achieved the agreed outcomes, then the traditional funder repays the new funder’s investment with interest.

By prioritizing evidence, outcomes, performance management, and the strategic deployment of resources, PFS could improve delivery of social services to vulnerable populations, yielding benefits to individuals, governments, and society at large. 
 

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