American healthcare is a never-ending debate. Now the New Jersey government have stepped in with a solution which involves SIBs as a conduit for funding… Good thinking!
The New Jersey Social Innovation Act (S2710) was recently introduced to the Senate after clearing the lower house, and early signs of adoption look positive. It sets up a pilot program within the Garden State to explore new ways to reduce the eventual cost to state government that is incurred when people who are treated at hospitals do not have health insurance. The program would allow nonprofit health-care and prevention services to receive funding in a new and innovative way: social impact bonds.