Care home accountants
If you’re spending more time on your books than your beds, talk to us
Many founders of care homes find that, as their business grows, so do their financial worries. These days, many find themselves squeezed between rising wage costs on one hand and lower fees on the other, in a context of increasing freedom of choice for patients. What they need is a trusted partner who can offer financial expertise plus detailed knowledge of the problems they have to deal with.
Our care home team have years of experience working with care homes serving the elderly, dementia sufferers and people with learning difficulties, along with nursing homes and providers of domiciliary care. As well as offering advice to the owners and managers of care homes, we’ve actually run them when in receivership. So we understand all the issues you face first hand.
To stay up to speed with developments in the industry, we regularly attend events run by both the Norfolk and Suffolk Independant Carers Associations. We also advise Norfolk County Council on financial issues around the provision of care, and provided them with details of the real cost of care for their 2012 review of fees, working in partnership with care homes across the county.
We can help with your business accounts, VAT returns and payroll. But we also offer much more, based on our in-depth knowledge of the care sector.
Are you too busy to plan for the future? Are you missing opportunities to save money? Are you thinking of selling your business one day, but unsure how to go about it?
The nature of running a care home means it’s easy to get caught up in day-to-day management and neglect the bigger picture. We can offer a valuable new perspective on your business, helping you explore areas such as:
improving profitability by adjusting fees, reducing costs or restructuring your business
diversifying or refocusing – for example, by moving into domiciliary care
managing the process of change
preparing your business for sale
benchmarking against similar businesses
If you’re thinking about exiting your business, we can partner with leading local specialists in buying and selling care homes, to offer detailed specialist advice.
Once your business is on track, you want to make sure it stays that way. The care-home sector is always evolving, so it’s important to stay ahead of changes to protect your profits. We can visit you once a quarter to review your progress, talk through any problems and suggest solutions.
As leading advisors to care homes throughout the region, we’re uniquely well placed to offer an informed outsider’s view coupled with insights into changing trends in the industry.
Finding hidden savings
We can benchmark your costs and fees against similar care homes throughout the local region or the whole of the UK. This will highlight areas where you could potentially reduce costs and/or increase fees to boost profitability.
To learn more about our services for care homes, or to arrange a no-obligation discussion, please call Phil Moy on 0845 077 4165