Care homes, industrious technology companies and consultancy services came together on Monday 8th and Tuesday 9th December at the Care Industry Forum, at The Grange St Pauls, creating a great event. We heard industry knowledge, best practice and experience around better purchasing and met valuable new additions to our business networks.
Common theme of 'organic procurement'
From our conversations across the two days we noted cost and risk around care home essential services such as insurance, energy, telecoms, business supplies, HR, company vehicles, and other spend tended to only be reviewed ad-hoc upon contract end or external prompt. In addition to this, procurement was frequently splintered between different members of management, which could stifle efficiencies, cash flow and business growth, as well as waste valuable time.
Key conversations and common challenges
- Multi site care homes who had yet to implement strategic and co-terminous procurement strategies were missing out on benefits such as;
- Stronger portfolio of supplies giving greater purchasing power
- Better connectivity and support across care group to residents and staff
- Efficiencies and cost savings through centralising procurement
- Risk and cost management continuity across the group
- Insurance risk; The failings of certain care home operators have been well documented in the media, coupled with the large care insurance provider Ecclesiastical repositioning itself away from the care industry, this has resulted in care insurance premiums rising to the top of care home owners' agendas. These latest developments prompted many care home operators we met to overhaul their risk management and safety awareness, which BCR Associates are ideally suited to assist with.
- Domilicary care; a joined up approach to HR, insurance, PDAs, mobiles/devices, SIMs, company vehicles etc would enhance support for your remote workers, aid staff retention as well as improve efficiencies and cash flow.
- Release profit to reinvest in your business
Whether you want to invest in your staff, acquire a new site or purchase new equipment and technology, looking to release profit from your cost base through a strategic approach to spend could see efficiencies and cost savings not achieved in any other way.
- Growth plans and scalable solutions
Many care businesses we met were looking to aquire new sites and grow, but recognised the importance of managing growth carefully. Procurement scalability is essential when growing through aquisition so we shared BCR Associates' best practice of sustainable scalable solutions.
We're really looking forward to following up with all we spoke with, and hope you found speaking with us at the event beneficial to your business.