Payment by results
In a UK first, HCT Group is now providing Travel Training on an outcomes basis using a Social Impact Bond - payment by results. Authorities only pay for travel training once independence outcomes for children and young people with SEN are achieved. The up-front funding requirement is met by The Bridges Social Impact Bond Fund, managed by specialist sustainable and impact investor Bridges Ventures (“Bridges”) with additional funding from the Big Lottery’s Commissioning Better Outcomes Fund.
HCT Group can now deliver training under an outcomes contract, whereby it will only receive payments from commissioners if it is successful in improving the young person’s independence. One payment will be made on completion of the course; a second if the beneficiary maintains independence for one term subsequently; and a third if the beneficiary maintains independence for a full year. This should allow Local Authorities to realise cashable savings in the first year of the programme.
HCT Group’s previous experience of delivering Travel Training (in both Leeds and Camden) suggests that the programme can have immediate and lasting benefits for the young person. It improves their ability to access education, after-school classes and social events and, in the longer term, to gain employment. It also has positive impacts for their families, who are able to manage their affairs more flexibly.