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The introduction of the National Living Wage has increased the financial pressure for care homes, particularly for smaller homes, a report says. Accountancy firm Moore Stephens says 12% of care homes have at least a 30% chance of going insolvent within the next three years.
It says care homes have been under extra financial strain in recent years.

Living Wage costs

Living Wage costs ‘put strain on care homes’

Rising costs and reduced funding from local authorities have come as demand for places at care homes has grown.
Moore Stephens also points out that a report by the Care Quality Commission (CQC) in October showed 2,444 residential care homes closed between October 2010 and December 2015, with 1,433 being smaller care homes.
The National Living Wage, which was introduced in April this year, currently stands at £7.20 an hour for workers aged 25 and over.

‘Unsustainable situation.’

“It’s become increasingly difficult for care homes, particularly smaller providers, to keep up a consistently high level of care while breaking even or worse, remaining solvent,” says Mike Finch, restructuring partner at Moore Stephens.

Read the full Living Wage article here




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Living Wage costs ‘put strain on care homes’ Berkshire

Living Wage costs ‘put strain on care homes’ Berkshire

Living Wage costs ‘put strain on care homes’ Berkshire from Bracknell to Reading, Slough to Windsor and Wokingham to Newbury

Living Wage costs ‘put strain on care homes’ Bristol

Living Wage costs ‘put strain on care homes’ Bristol

Living Wage costs ‘put strain on care homes’ Bristol, from Ashley to Bishopston, Cabot to Easton and Hillfields to Lawrence Hill

Living Wage costs ‘put strain on care homes’ Cornwall

Living Wage costs ‘put strain on care homes’ Cornwall

Living Wage costs ‘put strain on care homes’ Cornwall, from Penzance to Bodmin, Newquay to St Austell and Truro to Camborne

Living Wage costs ‘put strain on care homes’ Devon

Living Wage costs ‘put strain on care homes’ Devon

Living Wage costs ‘put strain on care homes’ Devon, from Plymouth to Paignton, Exeter to Exmouth and Torquay to Tiverton

Living Wage costs ‘put strain on care homes’ Dorset

Living Wage costs ‘put strain on care homes’ Dorset<

Living Wage costs ‘put strain on care homes’ Dorset, Bournemouth to Bridport, Poole to Portland and Dorchester to Christchurch

Living Wage costs ‘put strain on care homes’ Gloucestershire

Living Wage costs ‘put strain on care homes’ Gloucestershire

Living Wage costs ‘put strain on care homes’ Gloucestershire, from Cheltenham to Stroud, Gloucester to Tewkesbury and Cirencester to Dursley

Living Wage costs ‘put strain on care homes’ Hampshire

Living Wage costs ‘put strain on care homes’ Hampshire

Living Wage costs ‘put strain on care homes’ Hampshire, from Ringwood to Basingstoke, The New Forest to Portsmouth and Winchester to Southampton

Living Wage costs ‘put strain on care homes’ Herefordshire

Living Wage costs ‘put strain on care homes’ Herefordshire

Living Wage costs ‘put strain on care homes’ Herefordshire, from Hereford to Leominster, Ledbury to Bromyard and Kington to Credenhill

Living Wage costs ‘put strain on care homes’ London

Living Wage costs ‘put strain on care homes’ London

Living Wage costs ‘put strain on care homes’ London from Croydon to Barnet, Newham to Ealing and Enfield to Bromley

Living Wage costs ‘put strain on care homes’ Oxfordshire

Living Wage costs ‘put strain on care homes’ Oxfordshire

Living Wage costs ‘put strain on care homes’ Oxfordshire, from Banbury to Oxford, Bicester to Didcot and Witney to Abingdon

Living Wage costs ‘put strain on care homes’ Shropshire

Living Wage costs ‘put strain on care homes’ Shropshire

Living Wage costs ‘put strain on care homes’ Shropshire, from Telford to Shrewsbury, Oswestry to Bridgnorth and Newport to Ludlow

Living Wage costs ‘put strain on care homes’ Somerset

Living Wage costs ‘put strain on care homes’ Somerset

Living Wage costs ‘put strain on care homes’ Somerset, from Bath to Bridgwater, Chard to Minehead and Taunton to Yeovil

Living Wage costs ‘put strain on care homes’ Surrey

Living Wage costs ‘put strain on care homes’ Surrey

Living Wage costs ‘put strain on care homes’ Surrey from Camberley to Dorking, Egham to Epsom and Farnham to Guildford

Living Wage costs ‘put strain on care homes’ Warwickshire

Living Wage costs ‘put strain on care homes’ Warwickshire

Living Wage costs ‘put strain on care homes’ Warwickshire, from Nuneaton to Rugby, Royal Leamington Spa to Warwick and Bedworth to Stratford-upon-Avon

Living Wage costs ‘put strain on care homes’ West Midlands

Living Wage costs ‘put strain on care homes’ West Midlands

Living Wage costs ‘put strain on care homes’ West Midlands, from Birmingham to Coventry, Dudley to Sutton Coldfield and Walsall to Wolverhampton

Living Wage costs ‘put strain on care homes’ Wiltshire

Living Wage costs ‘put strain on care homes’ Wiltshire

Living Wage costs ‘put strain on care homes’ Wiltshire, from Swindon to Melksham, Salisbury to Trowbridge and Chippenham to Amesbury

Living Wage costs ‘put strain on care homes’ Worcestershire

Living Wage costs ‘put strain on care homes’ Worcestershire

Living Wage costs ‘put strain on care homes’ Worcestershire, from Worcester to Redditch, Kidderminster to Malvern and Bromsgrove to Evesham

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