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Social Investment
We partner with social entrepreneurs to deliver funding for health-related community initiatives. At Eastbrooke, we believe that as a healthcare organisation we are able to play a broader role within the community than simply sticking to the provision of episodic medical services. The Eastbrooke team is committed to improving community health and welfare standards and have explored a number of ways to approaching the challenge.
In December 2010, the Eastbrooke Family Clinic in Belmont raised $30,000 for Gateways Support Services to enable 20 pre-school children to receive autism assessments. The assessments were carried out in time for the children to access Commonwealth funded services to assist with learning and development.
In September 2012, Interchange Wingecarribee Incorporated (IWI) joined the Eastbrooke Medical Centre Southern Highlands. IWI are a not-for-profit human services organisation that are committed to helping people with disability, the frail and the aged of the Wingecarribee Shire live in their own homes and maintain a satisfying lifestyle. IWI provide services at such times as post-surgery so that the individual avoids the high risk of further injury and re-hospitalisation.
A Social Impact Bond, also known as a “Pay for Success Bond”, is a contract with the public sector in which a commitment is made by the government to pay for improved social outcomes that result in public sector savings. Social Impact Bonds are a new and innovative way of connecting capital funding with social outcomes and social entrepreneurs.
Social investment provides the missing link between service delivery entrepreneurship and investors.
Social Impact Bonds are based on a commitment from government to use a proportion of the savings that result from improved social outcomes to reward non-government investors that fund the early intervention activities.
Eastbrooke is proud to be associated with this new phenomenon. Sir Ronald Cohen is Chairman of the Eastbrooke Advisory Board and is also Chair of Big Society Capital – a UK based financial services organisation which is tasked with exploring ways governments deal with social issues globally.
