Pay‐for‐Success Development in the United States: Feasible or Failing to Launch?

Social impact bonds, known as pay‐for‐success (PFS) initiatives in the United States, have attracted attention as a novel strategy for financing and providing preventive services to the most vulnerable populations. This article provides an exploratory qualitative analysis of the Preschool PFS Feasibility Pilot grant applications and projects initiated by the U.S. Department of Education to encourage state and local exploration of PFS for...