We look forward to seeing you tomorrow, 14 November to explore the emerging world of outcomes-based funding and commissioning.
Best known as ‘Social Impact Bonds’, this session will discuss what outcomes-based funding is, what it means for social and community organisations, current trends and likely future directions, with examples from a recent entrant to the market describing their experience of the process.
Concepts and Terminology
The shift toward outcomes-based funding and contracting is underway. Governments both here and internationally are beginning to ask how they can better incentivise and support service organisations to deliver beneficial long-term outcomes for service users.
The session will provide an understanding of basic outcomes-based funding and contracting terms including: Social Impact Bonds; Partnerships Addressing Disadvantage; Payment-by-Results; & Pay For Success.
Attendees will get a first-hand account of the outcomes-based funding journey from Melbourne City Mission – which is contracting with the Victorian Government for Australia’s first education-focused Social Impact Bond. Melbourne City Mission is currently negotiating an outcomes-based contract with the Victorian Government.
Dave Wells, Melbourne City Mission
Dave is General Manager of Innovation, Impact and Government Affairs at Melbourne City Mission where he has worked at for 8 years. Dave started the industry leading Hester Hornbrook Academy (MCM’s independent school) and a range of education and case management programs for homeless young people and those with other complex barriers to education participation. It was the need for additional wrap around supports in an education context, to ensure student engagement, that resulted in Dave tendering, and ultimately negotiating the details of the current round of Social Impact Bonds with the state government.
Russ Wood, Co-Founder, Latitude Network
Russ has 20 years experience working in strategy, policy, capital development and governance within NFP organisations, at all three levels of Government and in the private sector. Russ advised Sacred Heart Mission during negotiations for Victoria’s first Social Impact Bond, is advising Melbourne City Mission through its current negotiations and has worked in South Australia and NSW on Social Impact Bond projects. Russ has also travelled to the US and Europe to study outcomes-based funding and commissioning.