The number of care home businesses falling into insolvency has jumped by 18%, with 47 care home operators in England and Wales becoming insolvent last year, up from 40 in the previous year, says accountancy firm Moore Stephens.
Research by the firm also shows that the number of care home businesses becoming insolvent has risen by 34% over three years, when there were 35 insolvencies in 2012/13.
Mike Finch, partner at Moore Stephens, said local authority spending on care homes continued to fall, with estimates suggesting that there would be a £2.9bn annual funding gap in social care by the end of the decade.
“The Government’s introduction of a mandatory national living wage from April 2016 is set to further increase pressure on the care homes sector as staff costs will rise,” said Mr Finch.
“Care homes have come under increasing financial strain and, … Read More »
Annie Sinnott MBE, owner of the Old Vicarage care home in Leigh, Dorset and one of the care sector’s leading lights, sadly died after a very short illness on Sunday, April 17th.
Annie and her staff at the Old Vicarage have won many awards for the excellence of their care and not least for Annie’s long commitment to staff development and training. The Old Vicarage is one of the very few care homes to have been rated as Outstanding by the Care Quality Commission.
Annie’s passing is a sad loss to the care sector and everyone at Caring Times gives their sincere condolences to Annie’s husband Ian and their family.
Care providers have expressed their displeasure at the Care Quality Commission’s recently announced fee increases. Speaking on behalf of nursing homes across the country, the Registered Nursing Home association (RNHA) has expressed its bitter disappointment that the Care Quality Commission is putting up the fees it charges them to be part of the regulated care market.
RNHA chief executive Frank Ursell said the CQC had run a consultation to ask whether it was preferred for a fee increase to be phase- in over two or four years – pain sooner rather than later or pain a bit more spread out.
“We opted for the latter,” said Mr Ursell. “Instead, the CQC has ignored what we said and imposed a hefty increase straight away. So much for consultation.
“To make matters worse, the increase we are having to absorb from the CQC is far … Read More »