The definitive source for local supply and demand, competitor and customer demographic for your care homes
If you are looking for an in-depth, and extremely cost effective report, that provides a comprehensive local study of any care home location in England, and you want it within a few working days – there is only one source - The CHAMP.
Care Sector Innovations developed the CHAMP (Care Home Analysis of Market Potential) in 2013. The many care providers who have used it now have a valuable competitive edge, now fully understanding the local market within which their care homes compete, and also having had a glimpse of what the next 5 and 10 years has in store in the same area.
Many have used the outcomes of the report to make tactical changes for the short term, and plan strategically for the mid and long term future of their homes.
Shortly into our fifth year, and with over a hundred reports completed, we have updated The CHAMP, and added new features so it now provides the most comprehensive, personalised care home market study available.
And the full report is normally supplied within 3 to 5 working days from order, at an extremely competitive price (or as we prefer to say “as an extremely valuable investment”).
Who uses The CHAMP?
Care Home Owners –
To help understand the competitive arena within which they trade, the supply and demand levels (that vary massively across the country), and to look strategically at mid to long term future of the location.
The CHAMP can also address short term issues, and prescribe tactical initiatives to improve performance levels in areas such as total occupancy, or share of self-funders.
Investors and Developers – to analyse the current and potential of an existing home, a new location, or to measure the potential for a portfolio of locations
Lenders – who want their clients to have a better market intelligence when they are looking for funding for new projects
Local Authority Social Services – to help them work with their planning departments to impress upon them areas where there is a real need for further beds, to ensure that permission is given when there is a need, (and questioned if there is already too much local supply).
CSI also helped a care home owner overturn a planning refusal through appeal, as we were able to prove a local requirement for more care home beds
The CHAMP has been utilised by single care home operations, small groups and through to larger groups and investors.
So what is included within the report?
The report is based on a single location -
your care home or the proposed site for a new build
Local Area
We define an area within which the home competes for their residents, using postcode sectors (e.g. AB1 1) for which the CSI database holds a lot of indepth data, especially with regard to population breakdown, and demographics. We also use data from the district or borough within which the home is situated.
Once the area is defined we search the model for all the relevant information required to build the report, including details of other homes that compete within the area, by size and type. From population and competitor data we can go on to measure supply and demand.
It is important you understand whether you are competing, or plan to compete, in an under or over supplied area.
Supply and Demand
Other than funding issues, the major problems facing the care home sector, is the imbalance of supply and demand across the country.
Too much supply means lower occupancy levels, which affect financial performance and therefore care quality, leading to poor CQC ratings and possible closures, as we have been seeing over the last few years.
Too little supply reduces choice for the people who should be at the centre of care, and may have to move outside their local area to get the care they need.
The CHAMP compares the number of beds against the relevant population in the local area, which in the case of care for the elderly is the 75 plus age group who take up 90% of all beds. The comparisons are made across the various care types – residential, nursing, with or without dementia specialisms. We analyse both the current situation and then forecast ahead 5 and 10 years, using the latest government population and mortality estimates by age group.
The outputs of our reports have varied greatly. We have proven a real current need for more beds, and a need for major growth in the future, but we have also reported instances of over supply – and even identified where existing supply is more than enough for the next 5 or 10 years, despite sizeable population increases.
Where are you in the race for new self-funding residents?
Competitor analysis
We all work in a competitive environment so having an in-depth knowledge of your key competitors is so very important. We provide an in-depth analysis, focussing on the main sector within which you work (e.g. nursing dementia, residential.)
The care home data we use is from the CQC register so we can ensure 100% accuracy.
The report will include a search of the district planning portal to identify any relevant planning applications.
As the largest user of care home beds - understanding the dementia population in your local area is imporatnt
Dementia
With so many care home beds being used by people living with dementia, and for that number to increase year on year, we use Alzheimer’s UK research on propensity to dementia by age group, plus share of care in the community and care homes, again by age group, to forecast the local dementia population over the next 10 years.
In most scenarios, we prove that by 2028 every person living with dementia in a care home, will not be the same as those living their today, but will be made up of people who have not even been diagnosed with dementia as of today.
Ensuring there are enough dementia beds to satisfy the local dementia population growth is very important, and we can map out that growth within our report.
You must really get to know where your opportunities for new residents are located around your home.