How our care home team can help
At present it is widely accepted that there is a funding gap between the true cost of care and what councils pay, which it is feared will not improve in the medium term. This uncertainty means operators have to be able to adapt and change, to remain successful, whist still maintaining the quality of care.
Other challenging areas include:
- Regulation – this is a very highly regulated sector, including the Care Quality Commission “CQC” monitoring compliance and rating homes. This rating can make or break many homes.
- Staffing and training
- it is very difficult to recruit staff and retain them. There is a perception of low pay and poor terms and conditions of employment. The sector has been hit in recent years by the National Living Wage, auto enrolment and more recently for the larger operators the apprenticeship levy.In addition to that as the free movement of people from the EU will cease in 2020, existing EU nationals working in the care sector will need to apply for EU settlement status.
- Finance – there are many specialist providers in this sector. The level of funding is dependent upon a number of criteria, which varies dependent upon the provider, but all will be guided ultimately by the CQC rating.
- Health & Safety – high standards in this sector are often costly to implement in order to remain compliant.
Care is paramount
How we assist with Care Homes:
At BHP we act for seventeen care home clients preparing benchmarking analysis and due diligence on care home acquisitions. BHP are also on a panel of experts between the local council and care home providers analysing the ‘Cost of Care’ as well as working in conjunction with a CQC expert to roll out a series of seminars to our clients and contacts.