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Social Care – A Market Perspective David Potter – Director Manchester Healthcare 17 th April 2013. Agenda. Social Care Market – Key Drivers. What our clients are saying?. Key Drivers of Appetite. Future Outlook. Social Care Market- Key Drivers. Private Fee/Top-ups Vs Market Pressure. - PowerPoint PPT Presentation
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Agenda
Social Care Market – Key Drivers
What our clients are saying?
Key Drivers of Appetite
Future Outlook
Social Care Market- Key Drivers
Private Fee/Top-ups
VsMarket
Pressure
Ageing Popultation,
Health & Social Care Bill
Proposals
Changing Dynamics of
Care
Rationing of Care to the
most needy
Home Care Vs
Care Home
The Social Care Bubble
Key Market Trends 2012
Source: Knight Frank Report 2012.
UK
Fees (pw)£616
Staff Costs 57.1%
Occupancy 87.9%
What our clients are saying?
Internal Analysis/Survey Conducted:
Occupancy
% Customers
Fee Level% Customers
LTV% Customers
<80% 5.3% <£600pw 74.6% <70% 86.5%
80-90% 29.0%£600-£700pw
12.6% 70-75%
7.5%
>90% 65.7% >£700pw 12.8% >75% 6.0%
September 2006
Critical Success Factors
• Strong management team (recognising and managing risk)• Good staff recruitment and retention policies• Strong inspection reports• Investment and re-investment in the business• Good relationships with Local Authorities• Niche/diversification (emerging markets/flexibility/recognising local dynamics)• Size
Experienced Care Home Operators
Reasons for Success
Purpose built care homes
Financials & Costs Excellent CQC Reports
Key Drivers of Appetite
• Asset Quality
• Supply & Demand
• Management
• Regulatory & Operational Strategy
• Staffing
• Fee mix
KPI’s
• Occupancy – and know your break even
• Average Weekly Fee
• Average Length of Stay
• Staff costs % turnover
• Maintenance Capex per bed
• EBITDA per bed
Future Outlook
Increased Regulation
Inward Investment Required
Quality FocusTrip
Advisor
Growth in Boutique
Style Homes
Positive Demographics
LA Fee Pressures
Effective Planning &
Strategy
Cost optimisation
product & service
Do nothing!
Strategy