Care Home Running Cost Calculator
Know Your Costs – Know Your Business
Buy for just £49.
How much does your care home cost to run EVERY MONTH?
“I don’t know, does it matter?”
(Does it matter if you drive at night without your headlights on?)
If you don’t know much it costs to run your care home then you may be speeding blindly towards that cliff edge called ‘financial ruin’.
THAT’S HOW MUCH IT MATTERS.
If you don’t know your costs, you can’t:
Set the fees you need to deliver the service your clients need and stay profitable.
Negotiate for the right fee with clarity and confidence.
Control your spend (which is increasing massively).
Make informed decisions about issues like empty beds (instead of panicking and filling them at the first opportunity).
Knowing your costs is the difference between knowing you can succeed and hoping you will.
Do you have a tool to record and analyse your costs? No?
Let me show you why this tool will give you all you need.
What’s Inside the Care Home Running Costs Calculator
Monthly Cost Tables
Record all your spend and set your monthly budgets.
All the tables you need are there and you can add as many lines in the table as you need.
You can also change the titles of tables to suit how you run your care home.
There are 12 sets of tables covering the fiscal year.
So that’s the data input bit.
The real power of this tool is in the Summary section.
(And you don’t need to add a single figure to it – it’s all done for you.)
See summarises of your spend, a rolling monthly average of your spend and how your spend compares to budgets you have set.
…See at a glance what your total average monthly spend is
so that you can set a minimum breakeven cost for your bed fees.
(Here’s a big picture summary section image.)
The total average monthly costs will help you set your minimum breakeven point for your bed fees
I know it looks complicated but in next to no time you’ll see which areas are overspending.
You’ll be able to see if your kitchen costs are getting out of hand because your new chef has been watching too much Master Chef or how much the latest hike in the National Living Wage is costing you.
The total average monthly costs will help you set your minimum breakeven point for your bed fees.
The separate care and nurse staff costs will help you work out how much care you can deliver before you need to charge extra for specific individual care.
All of this vital information to help you run your care home and keep it on the right financial track in one (very low cost), easy to use Excel-based tool.
If you’re still here and want to see a little more…
Monthly Costs Summary Tables
(I didn’t need to say any more for this one – it’s all there in the image.)
Overall Cost Summary Table
See your costs build monthly through the year and see how they compare with the annual budgets (built from the monthly budgets you set).
This table will show you how much you are spending compared to how much you planned to spend as you progress through the year.
If after 3 months your spend is showing 40% of budget instead of around 25% you know you have a problem and may need to go and speak to that chef.
Here, maintenance and agency were clear overspends. Use the monthly summary table and charts to spot where and use the individual month tables to drill down to exactly what caused the overspend.
Charts, Charts and More Charts
If pictures are your thing then all that you see in the tables are shown in charts.
Whether it’s a big picture, 30,000 foot view you want or the finer department details, there’s nothing like a picture to give you an instant view of what’s going on.
See how your spend is trending compared to your budgets and instantly spot where you are overspending.
Aaaah…pictures – don’t you just love them?
If you think you know your costs because you ask your accountant or check annual reports then you are not in control of your care home business.
(Seriously, you are blind and driving off that cliff because your costs are increasing all the time and annual or quarterly checks just aren’t enough.)
If you want the 20:20 vision and clarity needed to keep your care home on a solid financial footing
Know what your minimum breakeven cost per resident needs to be
Know how much care you can deliver as part of that minimum cost
then this is the tool for you.
(And for a ridiculously low price.)
Your costs have escalated dramatically since the pandemic and continue to do so.
So what do you want to do?
Blindly hope you’ll make it or know your numbers and make sure you will.
Leave it with you.
Frequently Asked Questions
How will this tool help me how much ‘basic’ care I can provide each resident?
Your monthly care and nurse staff cost represent how much care each resident can receive as part of that cost.
Divide your average monthly care (and nurse if you have them) costs into weeks and days, and by the number of residents you have. You now have a daily care (and nurse) cost per resident.
To work out how much care and nursing time each resident can receive for those costs, divide by their average hourly rates. Now, you have how much time you can allocate your care (and nurse) staff to each resident.
Any time over this should be classed as ‘extra’ care for that specific person, calculated separately and added to your fee cost to establish your true cost of care for that person.
Can I use this tool again each year?
Absolutely. Use the tool for the year and re-save it under a different name (using the year in the name) the following year. See where overspend have taken place and use this tool to help you set even more accurate budgets the following year.
Is there a guarantee?
Yep…all our products have a 30-day, no-questions-asked guarantee.
In other words, if you aren’t happy for any reason, just let us know and we’ll give you your money back. We obviously don’t think it’ll come to that, but if you’re even the least bit worried if this will work for you, then put your mind at ease.
You either get the results you want or you get your money back. It’s as simple as that!
How do I access the tool?
Once your payment is submitted, you will be taken to a landing page with a link to download the tool. You will also receive an email with a download link.
Get the Care Home Running Cost Calculator for only £49