Care businesses must be profitable to be viable
Social services directors have recently warned that care home owners are increasingly tempted to sell up to developers .
Frankly, this is unsurprising. The fact is that businesses must be profitable to be viable, otherwise they close and who are we to argue?
The funding crisis means existing care home owners want to exit the business and puts others off entering it, a dangerous situation given the country’s increasing need for care.
We need to look at how we can reduce the Government’s direct involvement in the funding of care. Could more people self-fund if they prepared earlier in life? Could banks and insurers provide long term care funding, payable only when somebody needs it? Could the Government utilise budgets more efficiently by joining health and social care together? Could personal budgets be given a greater impetus?
Care home owners are not just ‘crying wolf’, they are in serious financial peril. We all need to join the funding debate to ensure those working in the industry are proud of what they do and are adequately rewarded, as well as provide high quality care to those who need it.
 Financial Times http://www.ft.com/cms/s/0/630d155c-86e7-11e5-90de-f44762bf9896.html#axzz3wwHtJy00