The adult social care sector is in a ‘bind’ as local authorities are finding it impossible to fund the true cost of care, the founder of LaingBuisson has said during an interview with The Care Home Show.
In the 30-minute interview, William Laing told SP&P founding partner Simon Parker there was not enough money in the system needed to create a sustainable market.
He said: ‘The bind that the sector… finds itself in is that there simply isn’t enough money available for social care, particularly over the last ten years because of austerity. It is simply impossible for local authorities, at present, to fund the true cost of care homes particularly in the North and the Midlands. They simply don’t have enough money. We have to recognise that.’
Laing said new care home capacity would be required to meet growing demand despite more money going into homecare and development of the extra care segment of the market. ‘We think that in most areas there will have to be an increase in traditional care home capacity,’ he said. ‘If you are going to have that you need to incentivise the independent sector to invest in that.’
The author of Care Homes for Older People UK Market Report also discussed his thoughts on insurance, a cap on care costs and the cost of nursing care.
The interview coincides with a partnership between LaingBuisson’s Care Markets and SP&P’s The Care Home Show, which both aim to support the care sector with a range of video content. The show is also being launched as a podcast.
Parker said: ‘In my role as founding partner of SP&P, I invest a huge amount of time with care leaders and influencers to talk about the challenges and opportunities that will shape the future of the sector.
‘The aim of The Care Home Show is to inform, educate and inspire the audience by sharing these important conversations. I realised that this would be possible by leveraging the exponential growth of podcast consumption, by starting my own podcast and making it available to everyone involved in care.’
Since its launch in June, Parker has interviewed Jane Ashcroft, Professor Martin Green, Robert Kilgour and Nadra Ahmed.
Viewers can watch The Care Home Show on either the SP&P website or the Care Markets web page, and download the audio version to a phone, tablet or laptop from podcast channels including iTunes, Stitcher, Spotify, and Google Play.