Project
| ID | INDIGO-POJ-0007 |
|---|---|
| Impact Bond Name - (Value) | Resolve Social Benefit Bond (New South Wales) |
| Stage of Development - (Value) | Implementation |
| Dates - Date outcomes contract signed - (Value) | 2017-04 |
| Dates - Actual completion date - (Value) | 2025-03 |
| Dates - Start date of service provision - (Value) | 2017-01 |
| Dates - (Source ID's) | source5,source3 |
| Overall project finance - Total investment commitment - Currency - (Value) | AUD |
| Overall project finance - Total investment commitment - Amount - Exact - (Value) | 7000000 |
| Overall project finance - Total investment commitment - Amount USD - Exact - (Value) | 5364979.244 |
| Overall project finance - Maximum potential outcome payment - Currency - (Value) | AUD |
| Overall project finance - Maximum potential outcome payment - Amount - (Value) | 23900000 |
| Overall project finance - Maximum potential outcome payment - Amount USD - (Value) | 18317571.9902286 |
| Purpose and classifications - Intervention - (Value) | The Resolve Program aims to improve the mental health and wellbeing of people experiencing mental health issues in the Western NSW and Nepean Blue Mountains Local Health Districts. An integrated service delivery model combining: a residential service for periodic crisis care delivered through Resolve centres; integrated psychosocial, medical and mental health support provided through outreach support to people in their homes; linkages to existing services including specialist drug and alcohol services; and a warm line for after-hours support from peers. Each participant will be supported by the Resolve Program for a two-year period with the aim of increasing the participant’s wellbeing and reducing their utilisation of health and other services. A differentiating feature of the Resolve model is that the majority of staff will be peer workers with a lived experience of a mental health issue who can draw upon their own personal experience to engage, support and be a role model for participants. |
| Purpose and classifications - Policy sector - (Value) | Health |
| Purpose and classifications - (Source ID's) | source13,source1 |
| Service and beneficiaries - Target population - (Value) | Participants are eligible if they: are aged 18 – 64 years; have been hospitalised for a mental health issue for extended periods within the last 12 months; live in and around Penrith or Orange; and do not have a diagnosis of dementia. Based on the above criteria, the Local Health District is responsible for determining patient eligibility and making referrals to the Program. |
| Service and beneficiaries - Targeted number of unique service users or beneficiaries (total) - (Value) | 530 |
| Service and beneficiaries - (Source ID's) | source14 |
| Notes - (Value) | The Implementation Agreement includes an Agreed Minimum Referrals provision which commits the NSW Government, through the participating LHDs, to provide a minimum number of referrals to the Resolve Program each year. During the two-year program, participants are also expected to experience improvements in broader life domains including wellbeing, employment and housing status. These metrics will not determine Outcome Payments, however will be measured as part of the broader evaluation processes. |
| Delivery Locations 1: Location - Name - (Value) | Western NSW and Nepean Blue Mountains, New South Wales, Australia |
| Delivery Locations 1: Location - Country - (Value) | AU |
| Delivery Locations 1: Lat/Lng - Lat - (Value) | -33.947645 |
| Delivery Locations 1: Lat/Lng - Lng - (Value) | 151.166437 |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | Social Ventures Australia Resolve Social Benefit Bond Information Memorandum, 2017 p. 3 accessed on 26/07/2019 at https://www.socialventures.com.au/assets/Resolve-SBB-IM-web.pdf |
| Sources 2: Id | source2 |
| Sources 2: Name - (Value) | Inferred from Social Ventures Australia Resolve Social Benefit Bond Information Memorandum, 2017 p. 9 accessed on 26/07/2019 at https://www.socialventures.com.au/assets/Resolve-SBB-IM-web.pdf |
| Sources 3: Id | source3 |
| Sources 3: Name - (Value) | Social Ventures Australia Resolve Social Benefit Bond Information Memorandum, 2017 p. 5 accessed on 26/07/2019 at https://www.socialventures.com.au/assets/Resolve-SBB-IM-web.pdf |
| Sources 4: Id | source4 |
| Sources 4: Name - (Value) | Social Ventures Australia Resolve Social Benefit Bond Information Memorandum, 2017 p. 12 accessed on 26/07/2019 at https://www.socialventures.com.au/assets/Resolve-SBB-IM-web.pdf |
| Sources 5: Id | source5 |
| Sources 5: Name - (Value) | Social Ventures Australia Resolve Social Benefit Bond Information Memorandum, 2017 p. 18 accessed on 26/07/2019 at https://www.socialventures.com.au/assets/Resolve-SBB-IM-web.pdf |
| Sources 6: Id | source6 |
| Sources 6: Name - (Value) | Social Ventures Australia Resolve Social Benefit Bond Information Memorandum, 2017 p. 13 accessed on 26/07/2019 at https://www.socialventures.com.au/assets/Resolve-SBB-IM-web.pdf |
| Sources 7: Id | source7 |
| Sources 7: Name - (Value) | Social Ventures Australia Resolve Social Benefit Bond Information Memorandum, 2017 p. 4 accessed on 26/07/2019 at https://www.socialventures.com.au/assets/Resolve-SBB-IM-web.pdf |
| Sources 8: Id | source8 |
| Sources 8: Name - (Value) | Office of Social Impact Investment Resolve Social Benefit Bond, N.D. accessed on 26/07/2019 at https://www.osii.nsw.gov.au/news/2017/05/05/resolve-social-benefit-bond-australian-first-social-impact-investment-to-improve-mental-health-outcomes |
| Sources 9: Id | source9 |
| Sources 9: Name - (Value) | Deed of Implementation Agreement for Resolve Social Benefit Bond, 2017 p. 56 accessed on 26/07/2019 at https://www.health.nsw.gov.au/sii/Documents/implementation-agreement-resolve.PDF |
| Sources 10: Id | source10 |
| Sources 10: Name - (Value) | Social Ventures Australia, SVA raises $7m in private capial for Australia's first social impact bond targeting mental health outcomes, 2017, accessed on 26/07/2019 at https://www.socialventures.com.au/news/sva-raises-7m-private-capital-australias-first-social-impact-bond-targeting-mental-health-outcomes/ |
| Sources 11: Id | source11 |
| Sources 11: Name - (Value) | Social Ventures Australia Resolve Social Benefit Bond Information Memorandum, 2017 p. 7 accessed on 26/07/2019 at https://www.socialventures.com.au/assets/Resolve-SBB-IM-web.pdf |
| Sources 12: Id | source12 |
| Sources 12: Name - (Value) | Social Ventures Australia Resolve Social Benefit Bond Information Memorandum, 2017 p. 6 accessed on 26/07/2019 at https://www.socialventures.com.au/assets/Resolve-SBB-IM-web.pdf |
| Sources 13: Id | source13 |
| Sources 13: Name - (Value) | Social Ventures Australia Resolve Social Benefit Bond Information Memorandum, 2017 pp. 3-4 accessed on 26/07/2019 at https://www.socialventures.com.au/assets/Resolve-SBB-IM-web.pdf |
| Sources 14: Id | source14 |
| Sources 14: Name - (Value) | Health NSW Resolve Program clinicians factsheet, N.D., p. 1 accessed on 26/07/2019 at https://www.health.nsw.gov.au/sii/Factsheets/resolve-clinicians-factsheet.pdf |
| Sources 15: Id | source15 |
| Sources 15: Name - (Value) | Interpretation of Deed if Implementation Agreement for Resolve Social Benefit Bond, 2017 p. 3 accessed on 26/07/2019 at https://www.health.nsw.gov.au/sii/Documents/implementation-agreement-resolve.PDF |
| Sources 16: Id | source18 |
| Sources 16: Name - (Value) | Social Ventures Australia Resolve Social Benefit Bond Information Memorandum, 2017 p. 27 accessed on 26/07/2019 at https://www.socialventures.com.au/assets/Resolve-SBB-IM-web.pdf |
| Sources 17: Id | sourcehackandlearn2021-08 |
| Sources 17: Name - (Value) | Hack and Learn - August 2021 |
| Sources 18: Id | source19 |
| Sources 18: Name - (Value) | Resolve Social Benefit Bond Baseline Report (22 August 2019) |
| Sources 18: URL - (Value) | https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/ESA31417-Resolve-Social-Benefiline-Report-27-Aug-2019-FINAL.PDF |
| Sources 19: Id | source20 |
| Sources 19: Name - (Value) | Resolve Social Benefit Bond Interim Report 2022 |
| Sources 19: URL - (Value) | https://www.osii.nsw.gov.au/assets/office-of-social-impact-investment/files/ESA31417-Resolve-Social-Benefit-Bond-Interim-Report-13-July-2022.pdf |
| Service Provisions 1: Id | serviceprovision1 |
| Service Provisions 1: Organisation ID - (Value) | INDIGO-ORG-0214 |
| Outcome Payment Commitments 1: Organisation ID - (Value) | INDIGO-ORG-0216 |
| Outcome Payment Commitments 1: Organisation Role Category - (Value) | Government/Public Sector/Public Bank |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Currency - (Value) | AUD |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount - (Value) | 23900000 |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount USD - (Value) | 18317571.9902286 |
| Investments 1: Id | investment1 |
| Investments 1: Organisation ID - (Value) | INDIGO-ORG-0217 |
| Investments 1: Investment Commitment - Currency - (Value) | AUD |
| Investments 1: Investment Commitment - Amount - Exact - (Value) | 7000000 |
| Investments 1: Investment Commitment - Amount USD - Exact - (Value) | 5364979.244 |
| Intermediary services 1: Organisation ID - (Value) | INDIGO-ORG-0013 |
| Outcome Metrics 1: Id | outcomemetric1 |
| Outcome Metrics 1: Outcome Definition - (Value) | Reduction in the consumption of health services. The percentage reduction in National Weighted Activity Units (NWAUs) incurred by the individuals in the Intervention Group over their two-year measurement periods relative to the NWAUs incurred by the Control Group. NWAUs are an activity measure for determining total health related service consumption. |
| Outcome Metrics 1: Targeted number of service users Or beneficiaries (total) - (Value) | 530 |
| Outcome Metrics 1: Primary SDG goal - (Value) | 3 |
| Outcome Metrics 1: Primary SDG target - (Value) | 3.4 |
| Outcome Metrics 1: Secondary SDG targets - (Value) | 3.5 |
| Results 1: Outcome Metric Id - (Value) | outcomemetric1 |
| Results 1: Result level - (Value) | Project level |
| Results 1: Result type - (Value) | Interim |
| Results 1: Period - Start - (Value) | 2016-10 |
| Results 1: Period - End - (Value) | 2018-06 |
| Results 1: Outcomes achieved - (Value) | Resolve has supported 167 clients in its first year, exceeding its target of 160. Almost 60% of clients accessing the program have a diagnoses of schizo-phrenia or other psychoses-related disorders, indicating that the reach is appropriately focussed on people who live with severe and persistent mental illness. |
| Results 2: Outcome Metric Id - (Value) | outcomemetric1 |
| Results 2: Result level - (Value) | Outcome level |
| Results 2: Result type - (Value) | Interim |
| Results 2: Period - Start - (Value) | 2017-10 |
| Results 2: Period - End - (Value) | 2021-06 |
| Results 2: Outcomes achieved - (Value) | Program data and qualitative feedback from clients and staff highlight the positive impact Resolve has for clients. The data indicates that Resolve has supported clients to reduce their engagement with the health system by reducing the number and length of their hospital stays, and Emergency Department presentations (when compared with the year prior to Resolve enrolment). |
| Results 2: Notes | Additional outcomes noted by clients included improved confidence, social connections, participation in community life, and relationships. |
| Documents 1: Title - (Value) | Information Memorandum - Resolve Social Benefit Bond |
| Documents 1: URL - (Value) | https://golab.bsg.ox.ac.uk/documents/Resolve-SBB-IM-web.pdf |
| Documents 2: Title - (Value) | Final Interim Report (Social Ventures Australia) |
| Documents 2: URL - (Value) | https://www.socialventures.com.au/assets/ESA31417-Resolve-Social-Benefit-Bond-Interim-Report-13-July-2022.pdf |