Project Overview


The Utkrisht Development Impact Bond aims to improve the quality of care in private health facilities in Rajasthan and thereby improve health outcomes, including maternal and neonatal mortality.

Project Motivation

Mathematica works with implementation partners, investors, and outcome funders to verify whether private health facilities in Rajasthan, India meet maternal and neonatal health care quality standards. Mathematica’s assessment of the quality of care in these facilities determines whether payments are sent from outcome funders to investors in the bond.

Partners in Progress

  • MSD for Mothers
  • UBS Optimus Foundation
  • Palladium
  • Hindustan Latex Family Planning Promotion Trust (HLFPPT)
  • Population Services International (PSI)

Prepared For

MSD for Mothers

Development impact bonds are unique, public–private partnerships that leverage market forces to improve social welfare by repaying those who provide the bond’s initial working capital based on results.
Several organizations—including MSD for Mothers, the U.S. Agency for International Development, UBS Optimus Foundation, and Palladium—have partnered to deploy the world’s first health development impact bond, the Utkrisht Impact Bond. This partnership was developed to improve the quality of maternal care in Rajasthan, India, by helping over 400 private health care facilities enhance services, meet new government quality standards, and adhere to these standards over time. In particular, these stakeholders seek to increase the number of private facilities that meet accreditation standards for safe delivery.  Mathematica contributes to this work as an independent assessor to verify the facilities’ adherence to the different requirements. In this role, Mathematica works with stakeholders to develop and implement a plan to sample a subset of facilities to verify outcomes; to monitor data from sampled facilities; and to develop internal reports to summarize progress, lessons learned, and areas for improvement.
Project Impact

The DIB model could make possible 400 private health facilities’ ability to improve quality in Rajasthan India. This could improve access to quality health care for hundreds of thousands of pregnant women and save over 10,000 lives in five years.

- So O’Neil, Senior Researcher and Director of Health Foundations

Related Staff

Divya Vohra

Divya Vohra

Senior Researcher

View Bio Page

Progress is best made together.

Partner with us at the intersection of data science, social science, and technology to progress from inquiry to insight to impact. Our evidence-informed solutions empower you to see clearly and act quickly.

Advisory Services

Advisory Services

Learn more
Learn more about Advisory Services
Research and Evaluation

Research and Evaluation

Learn more
Learn more about Research and Evaluation
Data Analytics

Data Analytics

Learn more
Learn more about Data Analytics
Digital Innovation

Digital Innovation

Learn more
Learn more about Digital Innovation

See Clearly. Act Quickly.

Our experts can help you make smart, sustainable decisions. From local to global challenges in health, human services, and international development, we’re here to improve public well-being and make progress together.

Work With Us