New York State Announces Four Finalists In Pay-For-Success Initiative

New York State is negotiating with four finalists on pay-for-success (PFS) proposals to improve child and maternal well-being. The proposals were selected in March 2014 following a competitive procurement process.  PFS is a new approach to government financing of social service programs in which the government only pays if the contractors achieve pre-determined performance targets. Investors provide the up-front capital for provider organizations to expand or replicate proven programs. Investors are repaid when the program achieves the targeted outcomes.

On March 6, 2014, the Governor’s office announced the state had received 10 applications and . . .