Social Finance has launched Round 2 of the Outcomes Rate Card Development Competition.
For governments and nonprofits seeking assistance to transform their current procurement model to be performance-based and to pay for outcomes, not just services—Social Finance is offering 12 months of free technical assistance to develop an outcomes rate card.
An outcomes rate card is a procurement tool by which government defines a menu of outcomes it wishes to “purchase”—such as improving student achievement, completing a degree/training program, boosting earnings—and the amount it is willing to pay each time a given outcome is achieved.
- The competition runs now through January 31, 2017
- Social Finance will select up to 4 winners
- Awardees receive 12 months of free technical assistance from a dedicated Social Finance project team to develop an outcomes rate card, procure service providers using the rate card, and launch outcomes-based projects
- Applicants must be a state, local or tribal government, or a nonprofit organization. Applicants must also be an "outcome payor" – i.e. once outcomes-based projects are launched using the rate card, the applicant will pay for those outcomes
Webinar #1 will be December 13, 2PM ET, and Webinar #2, January 11, 3PM ET
Awardees will join our current partners in Connecticut and Riverside County, CA in developing the first outcomes rate card projects in the United States.