Australia’s first social impact investment to support palliative care patients is launched

The NSW Government is proud to announce that Australia’s first social impact investment to support palliative care patients has been successfully developed.

In partnership with NSW Health, Silver Chain Group will deliver the Silver Chain Group Community Palliative Care Service in Western Sydney Local Health District over the next 7 years.

The Service will be provided through an outcomes-based arrangement with NSW Health that will support Silver Chain Group to deliver positive outcomes for its patients. 

Commencing in July 2017, the Service will provide approximately 8,300 patients who have an advanced, life-limiting and progressing illness with enhanced community-based palliative care services. Patients will benefit from an in-home service including support for daily living, together with respite care and bereavement support for their family.

Twenty four hour palliative nursing consultancy services will also be offered in all Western Sydney Local Health District residential aged care facilities, and palliative nursing support will be offered for patients in their terminal phase of life, who are living in aged care facilities, where required.

This is the fifth social impact investment developed by the NSW Government. It follows the Newpin and The Benevolent Society Social Benefit Bonds implemented in 2013, the On TRACC social impact investment developed in 2016 and the Resolve Social Benefit Bond developed in 2017. 

 

Silver Chain Social Impact Investment

Policy area: Palliative care

Investment type: Payment by Results

Status: The service will commence in July 2017

Intervention group: The service is expected to support approximately 8300 terminally-ill people in the Western Sydney Local Health District, with a focus on the last three months of life

Outcomes measures: Reduction in hospital use by people receiving the service, compared to a control group

Term: 7.75 years

Parties: Service provider - Silver Chain Group; Government agency - NSW Health

Expected contract value: $80 million