Apologies as I am sure this will have been discussed before but I am new here and wondering if anyone can help with breaking down how care costs are calculated. I found this on GN saying:
“On average you can expect to pay more than £27,200 a year for a residential care home, rising to over £37,500 a year if nursing is required.”
A friend is checking care homes for her husband. He has rapidly deteriorating dementia and she is finding it increasingly difficult to look after him. Initially she needs respite care but as she knows things aren’t going to get better it would also be a trial to see if the home would be suitable for him in the longer term.
Weekly charges are being quoted around the £1300 mark so almost double that upper sum quoted in the article. She hasn’t asked how these charges are calculated but I am assuming that one factor is the staff to resident ratio.
I’m also aware of a Radio 4 You & Yours feature, some time ago now, where they discussed the standard business model for care home investors citing 12% as the expected ROI.
Can anyone provide some insight into this? Are care homes obliged to explain how their charges are calculated? I'm assuming a new build would be charging substantially more as they are having to cover substantial capital expenditure as well as running costs.
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