Just like any other business, you need to know how much your care home costs to run.
If you don’t know how much it costs to run, then you can’t be in financial control of your business and you can’t be sure that the fees you receive are enough to sustain your business.
And more often than not it isn’t.
The vast majority of care homes are struggling financially because they don’t receive the fees they need.
And a big reason for that is because they don’t know what that fee should be because they don’t know their costs.
Without knowing your costs you can’t:
• Control your spend and ensure that your care home isn’t wasting precious money.
• Set the right fee.
• Confidently negotiate for that fee.
• Know the financial impact of accepting lower fees.
If you want to put your care home’s future in the hands of your local authorities and CCGs then don’t worry about this - just accept the fees they want to pay or sign up to their contracts.
(Hint: This would be a very bad move and the road to insolvency. LAs and CCGs don’t know how much it costs to run your care home or deliver the care your residents need.)
You must know your costs if you want to:
• Be able to confidently set and negotiate the fee you need.
• Run your care home business cost effectively.
• Be able to deliver the right care.
• Maintain its value should you decide to sell.
• Be in control of your care home’s future.
Using the Care Home Running Cost Calculator you can stay in control of your care home business and make sure it runs cost effectively and remains financially viable.
For Just £49
What’s inside the Care Home Running Cost Calculator.
Each worksheet has all the tables you need to record all of your care home fixed and staff costs for the month.
Each sheet includes monthly totals and budgets that you can set your spend against.
The Summary sheet is very powerful. It will help you to see the big picture spend, manage your spend better against budgets, see trends and establish how much your overall and monthly running costs are. This Summary sheet will also highlight your average monthly costs.
Summary tables and charts clearly show your monthly spend by department versus your monthly budgets.
Total fixed staff and combined running costs are shown for each month and for the year in total.
The knowing your monthly average costs is vital as you will need this in order to establish your minimum breakeven cost per resident and how much care you can deliver within that cost.
Average costs are also shown for each department and for the overall totals.
Use the final monthly average running cost to work out the minimum breakeven point for your fees before extra care and profit is added.
Know your running costs and you can be in control of the financial health of your business.
The monthly and summary staff cost tables have care and nurse costs separated out from the rest on your staff costs.
This is because these costs directly link to how much care you can provide within these costs.
The overall monthly cost versus budget and overall average running cost (dark blue) is shown at the bottom of the main table.
Next to the main table is a summary table showing a running total spend for each department/area of your care home, the total budget for the year and a percentage showing running cost against budget.
There are monthly summary charts showing the results from the main monthly tables for each area of the care home.
These charts show actual spend against budget so you can easily see where your overspends are.
There are also total fixed, staff and running (fixed and staff) charts.
Showing the cumulative average in these charts helps to smooth out spikes and troughs so that trends become clearer.
For Just £49
Frequently Asked Questions
Is there a guarantee?
Yep…all our products have a 30-day, no-questions-asked guarantee.
In other words, if you aren’t happy for any reason, just let us know and we’ll give you your money back. We obviously don’t think it’ll come to that, but if you’re even the least bit worried if this will work for you, then put your mind at ease.
You either get the results you want or you get your money back. It’s as simple as that!
How do I access the tool?
Once your payment is submitted, you will be taken to a landing page with a link to download the tool. You will also receive an email with a download link.
Get the Care Home Running Cost Calculator for only £49