UK Residential Care for the Elderly market report
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Providing the most comprehensive and up-to-date information and analysis of the Residential Care for the Elderly market, and the behaviours, preferences and habits of the consumer.
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Covered in this report
The supply side of the market has been distinguished by provider type, while the demand side is split by funder type. The independent sector includes private and voluntary providers, while public providers include those managed by local authorities and the NHS.
The market comprises private individual buyers, self-funders, and public purchasers (LAs or the NHS). Although a number of LAs retain ‘in-house’ services, the vast majority of places are now contracted-out in markets to independent sector providers (close to 80%).
Adult social care is estimated to contribute over £46 billion to the economy. It employs around 1.8 million people, with the majority of jobs split between residential and domiciliary care employers (just over 40% each). Adult social care can help individuals, and the families of people who need care and support, to carry on working.
A number of sub-sectors of the residential care for the elderly market are covered in this report:
- Homes with nursing (previously known as dual registered homes) are defined as accommodation registered to provide residential care and nursing care.
- Local authority residential homes are also known as Part III homes under the National Assistance Act of 1948. Places are allocated through social workers/social services departments.
- Nursing homes, which are registered with the District Health Authority, offer full-time nursing facilities. Government statistics no longer draw any distinction between nursing homes, which offer nursing care for all patients; and homes with nursing, which may not.
- Private residential homes are operated by private individuals and companies. Those providing accommodation for four or more people are registered with the local authority under the Registered Homes Act of 1984. Premises caring for fewer people are registered with the local authority under the Registered Homes (Amendment) Act of 1991.
- Sheltered housing typically comprises self-contained accommodation specifically designed to cater for the needs of the elderly. Many schemes have a resident warden, while others utilise alarm facilities. Houses are either purchased or rented by occupiers.
- Voluntary residential homes are operated by charities and religious organisations and are registered with a local authority.
Company profiles included
- Abbeyfield Society
- Barchester Healthcare
- Four Seasons Healthcare
- Housing & Care 21
- Sanctuary Care
What you need to know
The value of the UK residential care market is estimated to have increased by 11% between 2014 and 2018 to just over £21 billion. Growth in the sector has been driven by increases in the number of patients and the intensity of care required by those patients, with many care homes specialising in dementia care or introducing nursing care services.
There are approximately 8,000 residential care providers, with the largest 150 organisations holding an approximate 40% market share
Expert analysis from a specialist in the field
Written by Lewis Cone, a leading analyst in the B2B sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
Alongside restrictive operating margins, care homes face an ongoing challenge to recruit and retain staff, with many operators reporting that they are increasingly competing with other low-pay sectors, such as supermarkets, who are actively recruiting and offering attractive pay rates.
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* This is a sample representation of the report layout and does not reflect the research included in this report.
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