Improved decision making powered by real trading data
Now, more than ever, understanding true elderly care home trading performance is essential to effective decision-making. In a sector braced for increasing challenge, it’s critical that every datapoint available is used to assess a market’s performance.
Here at Carterwood, we’ve revolutionised access to elderly care home trading data and demonstrated that collaboration is key, with the launch of our new analytics platform, Carterwood Analytics | Collab.
Collab, part of Carterwood Analytics, gives you instant access to real, anonymised, elderly care home trading data, helping you understand true care home trading performance in the markets that matter to you.
Whether you’re acquiring, funding or operating care homes, Carterwood Collab saves you time and removes the guesswork, so you can understand…
- Occupancy – view the average occupancy rates
- Average weekly fees – track average weekly fees
- Funding source – review the percentage of privately funded beds
- Agency staff costs – assess the average monthly agency cost of care assistants and registered nurses
Find out more and book your demo today
Key findings from Collab data
Collab is powered by real trading data, from real sector operators, including many of the top 20 operators in the UK. In the last two years, data for Great Britain from our contributing operators reveals:
- Agency costs have skyrocketed, with the average cost per bed in Q3 2022 (£445) over twice what it was in Q3 2021 (£222)
- There has been a sustained, encouraging recovery in average occupancy, which sat at 84.2% in Q3 2022 (up from 78.4% in Q1 2021)
- Average weekly fee (from all funding sources) has risen by almost £100, from £895 in Q1 2021 to £981 in Q3 2022
- Self-funders account for an increasing share of overall funding mix within care homes, rising from 37% to 40% between Q1 2021 and Q3 2023
To use, simply hover each graphic to show the datapoints, and toggle to full screen mode to get a closer look (top right button).
Want to see how these essential metrics measure up in the markets that matter most to you?
See how these datapoints have changed over time and benchmark effortlessly against the homes that best match the characteristics of your portfolio, either by region, country or personalised home profile, with granular insight into registration type, registration date, CQC rating and size.
Book a demo today and see the real trading conditions in the markets you care about
Tom Hartley, managing director at Carterwood comments;
“At Carterwood, one of our core values is ‘never stand still’; which helps us to continue to improve decision making and drive transformation in the data available to our clients and how they access it.
In difficult trading conditions, being able to assess your performance and benchmark against the markets that matter to you is invaluable. I consistently hear clients asking for insight and information about trading performance across the elderly care home sector, and so often they rely on local market hearsay or a small sample of data from large operators from which to draw conclusions. We are optimistic about the future of the sector; however, there has never been a time where there was a greater requirement for this data.
I am therefore very excited to launch Carterwood Collab. The first product of its kind, Collab provides instant access to aggregated and anonymised trading data from elderly care home operators from across Great Britain, revealing the trading performance data that is essential for benchmarking and market analysis.
Carterwood have been entrusted as custodians of this data for the entire sector, a responsibility that we take very seriously, and which speaks to our relationship with our clients and the wider sector. We have ensured strict and secure data handling measures to retain anonymity and, of course, individual home-level data remains entirely confidential.
A huge thank you to our founding contributors, without whom this would not be possible. Working in collaboration with our clients to create this new platform has been such a fantastic experience. Finally, a huge thanks to the whole Carterwood team for making this happen!”
Professor Vic Rayner OBE, chief executive officer at National Care Forum comments;
“Access to accurate and up-to-date data is a hugely powerful tool. It is very exciting, therefore, to see the launch of Collab, powered by Carterwood. Collab represents a really valuable contribution to the whole ability of social care providers to make sensible decisions about the development of new services that will meet community needs. By facilitating the sector to work together on this project, Collab shows that we really can be stronger together.”
