There is no respite from looming residential care crisis, with over a quarter of care homes at risk of failure due to government underfunding, according to new research.
The new report by Opus Business Services reveals a raft of major financial problems besetting care home operators, which at best will lead to compromises in care standards and at worst threatens a significant number of homes with closure or new ownership.
Using data supplied by Company Watch, which monitors corporate financial health, Opus has reviewed the finances of 6,178 care home operators, who collectively run 96% of the UK’s residential care homes, caring for around 300,000 people.
More than one in four (1,718) operators are at risk of failure, meaning that around 6,000 care homes could need a financial rescue within the next three years, if their closure is to be avoided.
Full Story CMM; 29 November 2016