Outcomes to performance indicators: finding “informed outputs” Good PIs are: Simple Natural Certain Arising from the flow of activity to outcome Think:

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Presentation transcript:

Outcomes to performance indicators: finding “informed outputs” Good PIs are: Simple Natural Certain Arising from the flow of activity to outcome Think: Behaviours needed Perverse incentives Improvement Change 1 © Clifford 2013

Provider-led development 2 Management Finance Risk Partners Documentation and structures

Investors 1 st Close £2M IAAM Fund (LLP) It’s All About Me SIB Structure £ £ Network of VAAs Service Providers LAs The Local Authorities SLAM Psychiatric Assessment Service Provider IAAM Service Co (Ltd) IAAM Sharing Ltd (Profit Co.) IAAM Sharing Ltd (Profit Co.) CVAA The Consortium for Voluntary Adoption Agencies CVAA The Consortium for Voluntary Adoption Agencies Profit Share Admin Fee & SLAM Adoptio n Register SOF £1M Investors 1 st Close £2M IAAM Fund (LLP) £ £ Outcome based payment s Return of funds + min 4% profit share IAAM - Funding & Relationship flows 3 IAAM Fund: Advances £46,500 in same four stages Recovers that from LA payments. Takes risk up to first 10% of breakdowns Funds IAAM Service Co as the “referree” of the scheme Provider VAA: Takes excess risk over 10%

Investors 1 st Close £2M IAAM Fund (LLP) It’s All About Me SIB Structure £ £ Network of VAAs Service Providers LAs The Local Authorities SLAM Psychiatric Assessment Service Provider IAAM Service Co (Ltd) IAAM Sharing Ltd (Profit Co.) IAAM Sharing Ltd (Profit Co.) CVAA The Consortium for Voluntary Adoption Agencies CVAA The Consortium for Voluntary Adoption Agencies Profit Share Admin Fee & SLAM Adoptio n Register SOF £1M Investors 1 st Close £2M IAAM Fund (LLP) £ £ Outcome based payments Return of funds + min 4% profit share IAAM - Funding & Relationship flows Investors: Fund £2m Get a return of 4% p.a. plus a “with profits” element from the surplus Capital repaid at year 10 Cabinet Office Top up funding for first 100 children CVAA: Gets the first £1m surplus plus half the remaining surplus Recapitalises the scheme at year 10 Saves £50,000+ p.a. 4

Provider-led development 5 Services Resources Markets Behaviours in delivery chain Management Finance Risk Partners Documentation and structures Relevant outcomes Informed outputs as proxies Think: incentives and behaviours Identify the issue Area needs Identify outcomes

IAAM – some key innovations………… 6 Based on behavioural drivers to correct market failure Spot purchase Commissioner choice Networked delivery Risk sharing: risk arbitrage – providers backing their own expertise Use of fund as revolving credit facility Yields match capital risk, making it possible to access normal financial markets

How’s it doing….seven months in? 7 Network is working and developing First registrations after 6 weeks Psych/medical reports delivered within 6 weeks Engaged with 50+ local authorities 60 children referred; 11 registered; 12+ being considered; near to first placements LAs decision-making changing Wider VCS discussions about what’s possible Interest from wider finance markets…….and individuals