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Keeping granny in her own home

As baby boomers fast approach an age at which their minds and bodies are limited to what they could physically do versus their 40s, more support will be required to give them the deserved tender, love and care.

New evidence shows ‘overwhelming’ preference for home care over care homes. 

Individual would much rather be living in their home comforts where their surroundings are known to them. As the mind ages, a known environment can limit confusion. There is also the comfort of having the wider community of family, friends and neighbours for support.

Councils face ever more stringent measures on funding, so how might providers meet costs of care with quality? Running a care home isn’t cheap. Providing care at home could be a cheaper alternative. No building operating costs allows providers to focus on training their carers to deliver high quality, nurturing skills.

Local authorities often lack the money to fund adequate care services to meet demand. So it falls on the family to find a solution. This presents an opportunity for domiciliary care providers. Success will be determined by their ability to innovate and use software to plan care efficiently. Providers will also need to attract private individuals to care for as opposed to state funded, offsetting crippling margins offered by state funded care.

A survey conducted by YouGov on 2,058 adult members of the public in September 2020, shows that more than 9 out of 10 (92%) respondents aged 65 years and over agreed that ‘people would prefer to be supported at home, rather than in a care home’.

UKHCA is urging the Chancellor of the Exchequer, Rishi Sunak, to recognise this preference and provide funding for home care services in his Spending Review this week.

UKHCA chief executive, Dr Jane Townson, said: “All of us want to live well at home and flourish within our communities. Supporting people at home benefits individuals as well as their wider community of family, friends and neighbours and reduces cost and demand for the NHS.

“UKHCA’s research on the way that councils and the NHS purchase homecare has exposed gross inequalities across the country. Typically, areas with the highest deprivation invest the lowest amounts in supporting people to stay well at home. If this government is serious about ‘levelling up’, the Chancellor must invest in homecare.

“Health and wealth are interdependent and homecare services are thus a vital part of the foundation economy, as well as providing 715,000 jobs.”

Care for our ageing population is going to take an ever increasing proportion of our national expenditure.  Well run businesses in the sector, be they assisted living products or domiciliary care, have a bright future.

We have acted for these businesses and residential support. Consequently, we are able to give a clear view as to the state of the market of fund raising and M&A. If you would like to know more please do give us a call.

Health and wealth are interdependent and homecare services are thus a vital part of the foundation economy, as well as providing 715,000 jobs

By Mihir Shah on 30/11/2020