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The Use of Payment by Results in Healthcare: A Review and Proposal

In: Social Impact Investing Beyond the SIB

Author

Listed:
  • Alessandro Rizzello

    (University Magna Graecia of Catanzaro)

  • Rossana Caridà

    (University Magna Graecia of Catanzaro)

  • Annarita Trotta

    (University Magna Graecia of Catanzaro)

  • Giuseppe Ferraro

    (University Magna Graecia of Catanzaro)

  • Rosella Carè

    (University Magna Graecia of Catanzaro)

Abstract

In recent decades, governments worldwide have begun to extend the use of Payment by Results (PbR) contracts. PbR contracts create a new type of partnership between investors, governments and service providers that engages them in a new way through complex outcome-based financial arrangements. In Italy, the diffusion of such instruments is limited by market and by legal barriers. Based on these considerations, our work aims to present an overview of the literature on PbR models, with Social Impact Bonds (SIBs) as the main subject, and to perform an explorative analysis of multiple case studies (focusing on innovative SIBs in healthcare) of such schemes. The study contributes to the international debate by offering several insights and implications for scholars, practitioners and policy makers. In addition, it aims to help clarify—from a law and economic perspective—the opportunities and obstacles related to the development of PbR instruments in the Italian context.

Suggested Citation

  • Alessandro Rizzello & Rossana Caridà & Annarita Trotta & Giuseppe Ferraro & Rosella Carè, 2018. "The Use of Payment by Results in Healthcare: A Review and Proposal," Palgrave Studies in Impact Finance, in: Mario La Torre & Mario Calderini (ed.), Social Impact Investing Beyond the SIB, chapter 4, pages 69-113, Palgrave Macmillan.
    • Handle: RePEc:pal:psifcp:978-3-319-78322-2_4
    DOI: 10.1007/978-3-319-78322-2_4
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    Citations

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    Cited by:

    1. Francesco Rania & Annarita Trotta & Rosella Carè & Maria Cristina Migliazza & Abdellah Kabli, 2020. "Social Uncertainty Evaluation of Social Impact Bonds: A Model and Practical Application," Sustainability, MDPI, vol. 12(9), pages 1-34, May.
    2. Rosella Carè & Riccardo De Lisa, 2019. "Social Impact Bonds for a Sustainable Welfare State: The Role of Enabling Factors," Sustainability, MDPI, vol. 11(10), pages 1-23, May.
    3. Alessandro Rizzello & Abdellah Kabli, 2020. "Sustainable Financial Partnerships for the SDGs: The Case of Social Impact Bonds," Sustainability, MDPI, vol. 12(13), pages 1-22, July.
    4. Rosella Carè & Francesco Rania & Riccardo De Lisa, 2020. "Critical Success Factors, Motivations, and Risks in Social Impact Bonds," Sustainability, MDPI, vol. 12(18), pages 1-17, September.

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