Adults: Cost of Care Reviews
Under the Care Act, the need to have fee rates that accurately reflect the true market cost becomes ever more important. Are your pricing systems and fee tariffs reflective of the usual cost of delivering services?
Procurement processes and pricing systems can be improved by developing a greater understanding of the local cost of delivering services. To achieve this we collect detailed financial information from your selected providers to analyse and benchmark the results against our database comparator in order to challenge and corroborate findings.
Valuing Care is the only company that has its own independently collected sets of costs that can be used to perform or validate any local cost modelling or data collection exercise.
By providing this independent dataset based on real survey data the discussion moves beyond benchmarking model prices into actual cost of care. Commissioners can then start to manage the market more thoroughly by undertaking research into these areas and joining up with NHS colleagues to better manage and understand the market.
Benefits of our cost of care reviews:
• Tried and tested processes that have withstood previous provider challenges.
• Accurate actual cost data that can be used as a validation tool against any surveys.
• Proven model that produces realistic market prices.
• Long established service that is accepted by providers as a thorough process whilst also being realistic about the current budgetary constraints in social care and the NHS.
• Knowledge and experience from completing 20+ of these exercises in the last 3 years.
Setting fee rates becomes a more important exercise every year, and commissioner use Valuing Care safe in the knowledge that it is a tried and tested process that provides realistic and independent results. If you too would like to know more about our cost of care reviews, get in touch here.
Focus on: Gloucestershire County Council
The Council commissioned Valuing Care to undertake a cost review of care home services for working age adults. The purpose of the review was to help the Council update its ‘Residential Pricing Tool,’ which was no longer considered fit for purpose.
Through established processes Valuing Care undertook a survey of care home costs to identify the usual cost of providing services locally. The cross corroboration of the survey results with Valuing Care’s cost model, and national database comparator, provided the Council with clear guidance of what represents a fair rate for care home services.
• Established processes for engaging care home providers and evidencing the usual cost of providing services.
• Cross corroboration of local survey results with Valuing Care’s national database comparator.
• Increased intelligence about the range of fees charged to different customer.