MIDAS - PUTS YOU IN CONTROL
There is no doubt that there is a massive demand for new care home beds – both currently and even more-so in the future. There is also a requirement for new owners to add vitality and a new dimension to those already operational.
Ninety per cent of care home beds are occupied by people aged 75 or over, and this population in England will grow by 1 million over the next 5 years.
And according to Alzheimer’s UK there will be another 100,000 people living with dementia who will need a care home bed by 2031.
However local supply of care home beds across the country is so varied it is not just a case of “if you build it they will come.” In some areas it will be a case of adding to an already over supplied area and low occupancy levels and a struggle to recruit enough staff will be the only things to look forward to.
And if you are not looking to buy an existing location, you may still find that the local area is already over supplied and even the increased demand from the growing older population will still result in the area being relatively over supplied 5 or even 10 years into the future.
But you may well have found yourself a gold mine. Such is the local supply situation in England.
To help with this CSI have created MIDAS, a local market intelligence business model that we have been supplying to care providers since 2014. Whether buying, building, lending, or investing MIDAS will give you all the information you need to decide whether or not to progress with a particular opportunity, and if so how much it is really worth.
And if you are selling, MIDAS could support your sales proposition by proving a level of continued and increasing demand that will ensure sensible occupancy levels and maximise your market value.
Each report starts for any postcode in England and an agreed working radius of between 5 and 10 miles.
MIDAS comes in three versions.
The original model that we have called CLASSIC that includes:
A detailed Executive Summary
Population profiles and forecasts for 2026 and 2031 for both resident and workforce age groups
Local supply and demand levels by care type – nursing, residential with or without a dementia specialism
Capacity for extra care home beds within the area both currently and in 5 and 10 years-time
Full details of competitor care homes within the area
Local care quality levels (CQC Inspections)
Local household demographics – identifying local ownership levels within 65 plus households (prime self-funders)
Each report includes a separate Excel spreadsheet carrying full competitor and demographic data included within the report that can be manipulated and mapped.
MIDAS CLASSIC is available for just £750 plus VAT. To request a report or for more information please email us now or call 01903 25 65 19
Introduced in 2020, MIDAS +CONTROL has all the features of MIDAS CLASSIC with the addition of a control location, the performance of which is known to you, and can be used as a comparison model for the subject location.
MIDAS CONTROL is available for just £1,000 plus VAT. To request a report or for more information please email us now or call 01903 25 65 19
Developed towards the end of 2020 and launched at the start of 2021 MIDAS Snapshot is exactly what its name suggests – a quick and inexpensive snapshot carrying information will help you decide what potential the location holds.
In just eight pages using two tables and five charts the MIDAS Snapshot will give you a great understanding of the local market. Measure the potential of a care home very quickly and extremely inexpensively.
It may help you to decide to walk away if the picture is not good, saving yourself time and further unnecessary expense.
However if there does look like there is an opportunity to move forward - you will be ahead of the game and competitive bidders. You can even claim a 100% refund if you wish to purchase either the CLASSIC or CONTROL reports for the same location.
All the data is based upon up to date and robust information provided from the CQC, ONS population and demographic data, and is independent and objective – not coloured by a vendor’s objective of making their client's proposition look better than it may be.
If you would like to see an illustrative report, please contact us now
we can also discuss costs and supply details.
More applications for MIDAS
The ability to prove a current and/or future need for extra care home beds within in local area will carry great weight at planning application stage and overcome other "cosmetic" objections.CSI has already helped win an appeal for a care home, the appeal judge saying it was key to the final decision.
Lending or Investing
CSI MIDAS will quickly give you an independent and objective report to support or otherwise your decision to lend or invest, or as to the level of the financial involvement.
You could make the provision of MIDAS data as a pre-requisite to an application, or proposal from a prospective purchaser.
Purchasing Care Home Portfolios
If you need an objective and quick appraisal of a number of care homes within a portfolio, CSI MIDAS will be able to provide you the data you need so you can decide whether to progress on all, some or none of what is available to buy.
We have already provided our market information for portfolios of over 50 locations.
Care Home to Sell?
MIDAS will provide you with all the market support data you need to complement your financial data when setting up to sell your properties.
In addition to the Critical Observations and the Supplementary Critical Reports, we can also provide supplementary information, such as existing planning applications within your area.
CSI Market Intelligence Ltd
2nd Floor,The Mill Building,
31 Chatsworth Road,
Worthing, West Sussex