Round 3 of the Outcomes Rate Card Development Competition Now Open
We are excited to launch the third round of our Outcomes Rate Card Development Competition, to help governments scale solutions to society’s most pressing challenges by shifting the procurement focus from outputs to outcomes. Local, state, and tribal governments, as well as nonprofits, are invited to apply between now and August 31, 2018, with applications reviewed on a rolling basis.
Social Finance will select one to two additional awardees to receive free, in-depth support from a dedicated Social Finance team over 12 months to develop outcomes rate cards.
Through this outcomes-based procurement tool, a government defines a menu of outcomes it wishes to “purchase” — such as improving student achievement, completing a degree or training program, and boosting earnings — and the amount it is willing to pay each time a given outcome is achieved.
As a tool to launch multi-provider procurements, outcomes rate cards innovate the US PFS market by standardizing processes, expediting development timelines and increasing the number of projects launched.
With an outcomes rate card, governments and nonprofits can take a community focus on outcomes to the next level through contracts that link payment to performance. An outcomes rate card can be used to address many social issues, including early childhood, workforce development, homelessness, health, child welfare, and criminal justice.
With technical assistance from Social Finance, governments receive dedicated support to set up outcomes-based contracts — the first step in a system that creates feedback loops to improve service delivery in the future, beyond the scope of this project.
This open and fair competition is supported through funding awarded to Social Finance in 2016 by the Corporation for National and Community Service. The first round of the competition awarded outcomes rate card development assistance to Riverside County, CA and to the Yale Child Study Center and Connecticut Office of Early Childhood in April 2017. The second round of the competition awarded assistance to the Ohio Department of Health, United Way of Anchorage, Workforce Solutions Capital Area in Austin, TX, and Fairfax County, VA in February 2018.