Care Home Sector
Already facing an economic crisis with funding cuts and growing elderly population, care homes now find themselves at the centre of a health crisis as Covid 19 takes its toll.
With an estimated 500,000 older people being cared for in care homes, the sector now provides even more beds than NHS hospitals, yet arguably receives less attention and support.
The Covid pandemic has stretched this sector hard operatioanaly and financially and, perversely, many now face the risk of redundancies and/or closure due to low occupancy.
The care home sector is an immensely complex arena with a web of private/public provision, systemic under-funding over decaces, shortages of staff and some serious shortfalls in quality of care. Together, these factors have led to difficult times for operators.
Our specialist care home team is dedicated to helping all types of residential, nursing and specialist care homes together with domiciliary care operators run a more efficient businesses leading to better cash flows and a more positive relationship with stakeholders.
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 opportunities 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.
Post re-finance and new ownership this 200 bed, 3 home group had occupancy issues which led to debt stress. Accelerus was introduced to help with operational, financial and commercial review to define recovery plan. Recovery plan was on track leading into Covid-19. Due to pressures in all aspects of the business, Accelerus have remained as close advisors to owner and stakeholders through the pandemic and are assisting in the post Covid operational and financial planning.
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.
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.
turnaround & recovery
organisations back on their feet.
Creating new avenues for growth.
Improving all aspects of financial management and arranging funding.
finance & funding
re-tuning operations for maximum efficiency and
Creating strategies for sustainable growth.