The South Australian Government issued a discussion paper seeking on the suitability of Social Impact Bonds to fund innovative new programs. Research Australia’s submission proposes the use of Social Impact Bonds to address the well recognised problem of translating research outcomes and discoveries into practice in the health system. Specifically, Research Australia believes that Social Impact Bonds could be an effective mechanism for funding and evaluating pilot projects and clinical trials designed to implement and evaluate new evidence based practices and interventions. The benefits of implementing successful new interventions are improved patient care and efficiency gains in the South Australian health care system.
