Rising costs

All of us have been impacted by the recent inflationary rises, and care businesses are no exception. Many companies are questioning how they can adjust their procedures in order to save money as a result of prices rising at a rate close to 9.5%, which is quicker than they have in 40 years.

Raising pay to keep up with inflation is never simple in the care industry, but with more than two thirds of workers in the independent care sector earning less than the actual living wage (£9.90 per hour), care providers must support their carers, in order to attract and keep top talent.

In the industry, budgets are already tight due to inflation, which can make matters worse for care organisations that subsidise the travel costs of their caregivers. 92% of suppliers are worried about how the increase in fuel prices will affect their company financially.

More government support is widely recognised as the obvious way to ease the pressure the sector is under. However, it frequently takes months or even years for public funding to arrive, and the care industry needs assistance right away to fend off the effects of sharp inflation. The majority of care organisations don't have the time to wait for government assistance.

Saving money with efficiency

Even if funds are tight, care businesses frequently worry about cost-cutting, since there’s a common belief that doing so requires reducing employees or resources and lowering the quality of services.

However, if it’s done with proper consideration, reducing money doesn’t necessarily mean sacrificing the level of care provided by your business. There might be hidden efficiencies that could support your care business in hard financial times.

Here are some suggestions for investigating, locating, and measuring your hidden efficiencies:

1. Distributing resources

Allocating your resources wisely is a key component of making your money last longer. You may enhance the number of visits your carers can make, save money on petrol and improve continuity of care in your business, by deciding which carers should go where based on what will take the least amount of time. As a result, the quality of care provided by your business will also improve, as carers have more time.

2. Enhanced communication

How effective is communication among your team? The more time that’s wasted exchanging straightforward information, the more difficult it is for team members to communicate with one another.

Whether it's to adjust a rota, discuss a patient's prescription or offer feedback on a visit, communication is constant in the care sector. However, if your caregivers spend longer communicating due to inefficient systems, there’s less time to provide care for individuals who need it.

You can save time and raise the standard of treatment by using channels of communication that are as efficient as they can be.

3. Technology and automation

We’re all aware that some tasks in the care sector will always be carried out personally, ie with a caregiver being present. However, the care sector has benefited in numerous ways from automation, much like other sectors. To free up caregiver time, automated reminder systems, for instance, can remind service users to take their medications. 

Automation and technology shouldn’t be relied on, but they are helping those who require care to stay independent and heal at home with the help of carers.

Though time management is crucial, now isn’t the time to compromise on care quality. You can reduce costs and boost the quality of your care, one service user at a time, by uncovering untapped capacity and increasing business efficiency.

For more information about how you can improve your efficiencies to support your service users, request a free demo or get in touch by calling 01254 819205.