This new and updated third edition of the best-selling "Calculating
a fair price for care" estimates the potential cost to the public
sector of paying fair market fees to a fully modernised care home
sector. The demands resulting from an ageing population means that
more care homes will be needed in the future. However, most public
sector funding agencies do not currently offer fees that are
sufficient to encourage care home operators to invest in new
capacity for state-funded clients. "Calculating a fair market price
for care" offers a transparent and evidence-based mechanism for
working out what such fees should be, based on the costs borne by
care homes in the financial year 2008/09. Updates for the third
edition include a new and simplified approach to working out
'floor' and 'ceiling' fair fees; new staff input and other cost
benchmarks derived from a survey of major corporate operators of
care homes in 2008 and a downward revision in the target rate of
return on capital from 13% to 12%. "Calculating a fair market price
for care" is essential reading for commissioners and providers of
care services throughout the UK, local councillors, advocacy groups
for older people and social policy experts, as well as politicians,
civil servants and other policy makers concerned with appropriate
funding for long-term care.
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