Published in All news on 02/04/2024
CareCubed, the national care costing tool, has announced the release of its latest data model.
The update, which is the 18th release for the tool, introduces updated benchmarks across a range of important metrics for councils and care providers. These updated benchmarks form a crucial part of measuring the baseline for care costs of both Adult and Children’s services.
Key Features and Improvements of CareCubed Version 18
The Key Features and Improvements of CareCubed Model 18 include;
- Tracking of National Living Wage increases in line with recent financial changes and impact of Real Living wage on all roles.
- Updates to average salaries for all levels of seniority across Childrens, Adults, and Older Persons care
- Updates to non-staff costs including the likes of National Insurance and Holiday pay.
- Updates to Return on Capital calculations
- Updated averages for new utility contracts
- New functionalities across the platform
- The Importance of CareCubed Data Version 18
In the current financial climate, which has seen and increasing pressure on budgets. The ability to enter deliver care in a financially sustainable way relies on open and transparent negotiations between care providers and suppliers.
CareCubed is already being utilised by over 50 councils across the UK and over 600 commissioning bodies, and as a non-profit can help deliver millions in savings at a fraction of the expected cost usually associated with this level of support.
With its dataset of costs, covering both salaries and associated expenditures, providers can enter negotiations with a clear view of what costs should be.
Sherif Attia, Director of Delivery & Design at CareCubed commented on the new release
“Within the latest CareCubed update, we have taken steps to ensure that costs continue to reflect a fair price for care, are data-driven and evidence-based. We have also made progress to ensure our models stay reflective of different models of care, introducing a positive behavioural support benchmark for the first time, whilst taking steps to reduce effort and improve efficiency for our users.
Considering another year of sustained inflation, alongside another unprecedented increase to the UK national living wage, it is more important than ever that Local Authorities and Care Providers have accurate data from which to inform the setting of fees and rates for care placements in 2024/25.
It is also the view of CareCubed that a consistent approach to pricing has never been more vital, as the fall-out from the pandemic, price inflation and the spiralling cost of living has dramatically impacted Local Authority spending power, whilst hiking cost bases for care providers.
It is vital that both commissioners and care providers are not missing out on the latest intelligence needed to inform decision making, and to support a sustainable social care market, that continues to provide excellent outcomes to our residents and communities.”
The release will be available, via the tool, from the 2nd of April.
If you would like to find out more about potential support for your organisation, contact CareCubed today.
