The Potential of Pay-for-Success as a Financing Strategy for Evidence-Based Practices: An Illustration with...

Area of Science:

• Health economics
• Public health policy
• Child and adolescent psychology

Background:

• Implementing evidence-based practices (EBPs) faces significant financial hurdles.
• Innovative financing models are crucial for widespread adoption of effective interventions.

Purpose of the Study:

• To explore pay-for-success (PFS) financing as a strategy for funding EBPs.
• To assess the suitability of multisystemic therapy (MST) as a PFS candidate.

Main Methods:

• Illustrative case study using multisystemic therapy (MST).
• Analysis of PFS structure: private investment, government repayment, and return on investment.
• Consideration of contextual factors for PFS implementation.

Main Results:

• Multisystemic therapy (MST) and its adaptations are identified as strong candidates for PFS.
• PFS demonstrates potential for financing complex behavioral interventions for youth.
• Challenges for policymakers and administrators in PFS implementation were noted.

Conclusions:

• Pay-for-success (PFS) financing presents a viable strategy for overcoming implementation funding gaps for EBPs.
• MST serves as a practical example of how PFS can support evidence-based interventions.
• Addressing administrative and policy challenges is key to unlocking PFS potential.