Caresolve Financial launched to help care homes read the road ahead
Caresolve, the specialists in care home transformation, have launched a new service to offer financial solutions to care homes.
Caresolve Financial works with care homes to provide them with a clear insight into their operational, financial and compliance position. The team can also help clients to negotiate CQC guidelines.
As well as finance director services, key services include comprehensive reviews, financial management support and advisory services.
The service is aimed at care home operators as well as banks and insolvency practitioners concerned about early warning signs in respect of their care home customers.
Research shows that the number of care homes going bust has risen by more than a third. Budget cuts by local government and the introduction of the national living wage are believed to have put the care home sector under increased pressure.
Richard Shore, Finance Director of Caresolve Financial, said: “The care home sector is under increasing financial pressure and it is so important for operators to keep a close eye on their current position and to read the road ahead.
“Our team is highly experienced in dealing with all the financial aspects of running a care home – whether that’s a single care home or a complex, multi-site business reporting to numerous stakeholders.
“We know that a poor inspection report can have a dramatic and detrimental impact on a care home.
“The consequences can often be severe and, should remedial work and required improvements not be made within timeframes given, operators can end up being forced to close.
“Our aim is to help care homes run safe, successful and high-performing businesses.”
Caresolve Financial is part of Caresolve, which has its headquarters in Tattenhall, Cheshire, and works with clients across the UK.