The care home industry is big business worth around £15.9 billion a year in the UK, with around 410,000 residents. It is a sector under increasing pressure from an ageing population and diminishing support from public funds.
That’s why many smaller, independent operators are struggling to maintain the standards required by the Care Quality Commission (CQC) and have difficulty balancing the books.
Our specialist care home team, led by Chris Rhodes, is dedicated to helping all types of care and nursing homes run a more efficient business leading to better cash flows and a more positive relationship with lenders.
The team has developed an effective methodology to put distressed providers back on the road to success through improved cash flow, better reporting and more efficient operational practices.
Clients are taken through a step-by-step process which identifies weaknesses in their operational model and care provision. From this, a detailed improvement plan is created, implemented and monitored under the expert guidance of the Accelerus team. In the majority of cases, the re-inspection by the CQC is positive which has a knock-on effect on occupancy and hence revenues.
The Accelerus fee structure has been set at a level which is compatible with the sector in to order to provide an affordable solution to the many care homes fighting for survival. The process is a rapid one which means fee payments are kept to a minimum.
Quality issues at this care home led to a poor CQC rating resulting in low occupancy and a squeeze on cash. With deteriorating relationships with the local authority and bank, the business needed help.
Accelerus created a recovery plan which included accurate cash flow forecasting, new financial modelling, improved marketing and an improvement in banking relationships. As a result, the home returned to profit with a reduced debt level.
Zero to hero
A 44-bed care home had been rated Inadequate for the second time and faced removal by CQC. Accelerus helped the owners create a corrective plan to improve all areas of services which was implemented with great success. The home is now rated Good and one of the top 20 providers in the UK.
Building creates staff shortage
Although the build of a 62-bed mental health care home went to plan, recruiting nurses was severely delayed which led to a cash shortage and concerns from the lender. Accelerus helped create a new recruitment plan, revised the cash flow forecast and built a new funding model. With new funding secured, bed occupancy increased and the cash position improved.
Two homes needed improvement
A provider with two homes suffered poor ratings and was subject to a large scale enquiry. Following intervention by Accelerus, a detailed recovery plan was put in place with significant improvements made across both properties. A reinspection by CQC saw ratings rise and both homes are now classified as Good. Accelerus continues to provide consultancy and is helping the business with its expansion plans.
DEEP DIVE INTO OPERATIONAL MODEL ,PROCESSES & QUALITY
COST STRUCTURES, RESOURCES, CASH FLOW AND FORECASTS
IDENTIFICATION OF IMPROVEMENT ACTIONS
CREATION OF AN IMPROVEMENT PROGRAMME AND DETAILED CHANGE PLAN
CLARITY OF PROCESS RIGOUR & DISCIPLINE
HANDS-ON HELP TO DELIVER AGREED PROGRAMMES VIA DIRECT INTERIM SUPPORT AND/OR MENTORING AND ADVISORY INPUTS