According to global property adviser Knight Frank, staffing is still the most difficult challenge in terms of cost and recruitment. The ‘Care homes trading performance review – 2019’ has shown that there is a lot of difficulty in attracting qualified nurses and carers. Therefore, many care home operators are relying on agency staff which comes at an additional cost.
In the past decade average staff cost have risen to £25,938 in 2018/19 on a per resident per annum basis this is a 50% increase. It is believed that the reason why this has increased is due to the rise in the national living wage which has increased to £8.21 for people aged above 25.
Average weekly fees have increased by 8% in 2018/19 to £837. The main reasons for this are staff cost increase, elderly people are now entering care homes with more severe medical conditions. Care standards have been improved which is forcing care homes in invest to meet these new standards.
How can we help
At Hawsons we have a dedicated team of healthcare and medical accountants at our offices in Sheffield, Doncaster, and Northampton. We pride ourselves on the in-depth knowledge and experience our team have developed in a number of specialist areas, across the healthcare sector, including GPs, care homes and pharmacies.
If you would like to book your first free initial meeting with us click here.
If you would like to find out more information about our healthcare and medical accountants click here.
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Scott Sanderson
Partner, Sheffield