In the landscape of care provision, a fundamental truth emerges: the ability to deliver exceptional care is intrinsically linked to the financial model that underpins it. Over the course of the year spanning from March 1, 2022, to February 28, 2023, a notable transformation was witnessed. Occupancy within care homes experienced a noteworthy improvement, with a remarkable uptick of 3.1%, culminating in a total of 372,035 residents. Among these, 137,480 individuals (37.0%) chose to self-fund their care – a figure that remains consistent with the previous year.
Amidst these shifts, an intriguing pattern comes to light, revealing nuances across regions. The South East emerges as the enclave with the highest proportion of self-funders in care homes, standing at an impressive 47.5%. In stark contrast, the North East takes the mantle of the region with the lowest self-funder percentage, registering at 26.4%. This juxtaposition is further illuminated through a comprehensive breakdown across regions:
Within this data tapestry, the category of care homes providing for older adults emerges as a focal point, exhibiting the highest proportion of self-funders at 48.9%. This value stands significantly higher than all other care home types, with care homes dedicated to younger adults registering the lowest self-funder percentage at 2.0%.
Noteworthy trends also emerge when examining care home sizes. Smaller care homes, boasting between 1 to 19 beds, consistently portray the lowest proportion of self-funders at 12.0%. In contrast, larger facilities underscore the potential advantage of private pay models.
Delving into the realm of ratings, care homes rated as "outstanding" notably carry the torch for self-funding, standing at an impressive 50.9%. This figure significantly outpaces care homes rated as "inadequate," which registers the lowest self-funder proportion at 24.0%. The significance of these findings is underscored by the potential correlation between higher private fee rates and the capacity to provide compliant and exceptional surroundings for residents.
In this dynamic landscape, Cornerstone stands as a beacon of support. Our commitment transcends financial models, bolstering all providers in their journey toward providing outstanding care. As we navigate the intricacies of care homes, let us harness these insights to craft environments that shine, regardless of funding source.
© Copyright. All rights reserved. Legal Notice Private Policy
We need your consent to load the translations
We use a third-party service to translate the website content that may collect data about your activity. Please review the details in the privacy policy and accept the service to view the translations.