The Council contracted Valuing Care to undertake a cost review of residential and nursing services for older people. The purpose of the review was to inform the setting of future rates for services that are fair, sustainable and evidenced based. Valuing Care used its established processes to undertake a survey of care home costs to identify the usual cost of providing services locally.
The survey also gathered information on the overall health and sustainability of the market with specific regard to occupancy levels and the range of fees. 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. The review also highlighted some of the inefficiencies in the market arising from the current oversupply of places.
Key Benefits:
- 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 groups, levels of profitability, market efficiency and sustainability.