All
successful businesses need to take the time for a thorough review
of their products and operations. Care home businesses are no
different.
It's worth having a look at the demographics, and at market
dynamics, and their impact on care homes.
Care homes are facing a vast array of new and different demands
and expectations. From residents, the regulators and competitors.
Care homes need to respond to these market conditions, to stay
one step ahead and to take advantage of the growth prospects.
Residents
in long term care are demanding more independence
and choice of services than ever before, and from next year,
new home regulations will come into force.
The debate as to how Britain funds care provision remains
a pressing issue. There are signs that alternative facilities
such as assisted living, domiciliary care and increased provision
in nursing care are all being developed and demanded. This
illustrates the increasing pressure to diversify services,
both from customers and NHS fund holders to find cheaper alternatives
to hospitals for long-term care.
Next year there will be more pensionable people than children,
and the number of people aged 85 and over is predicted to
quadruple from 1.2m in 2005 (2% of the population) to 4.2m
(6.5%) at its peak in 2056. So, whilst short-term growth prospects
are limited, potential long-run returns are good.
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At
Barclays, we know that expertise
and experience are pre-cursers to business
success.
We
have a large and respected presence
of healthcare- focussed relationship managers.
Our teams up and down the country have strong
relationships with healthcare specialists,
valuers and brokers, so really understand
your local market conditions.
We
know that running a care home requires good
and experienced management, with a high level
of attention to detail and the ability to
provide quality care and accommodation. We
know that market conditions are changing,
and you're facing new demands and expectations.
We understand the challenges you face, and
go out of our way to smooth the way. No wonder
we were voted best bank in the UK by 'The
Banker' magazine in 2005.
Contact
Paul Whitehouse, 07775 543505. paul.whitehouse@barclayscorporate.com
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