Understanding the Care Home Market
Client: Facilities Management Company
Challenge
The UK’s rapidly ageing population offers care home operators a tantalising opportunity - a market that’s set to triple in size by 2040.
Yet, operators must confront a plethora of strategic challenges to prosper – a woefully unprepared Government, perilously restrictive local authority funding and mounting regulatory pressure; a potent mix where low margins prevail and investment is sparse.
Our client, with an initial foothold in providing support services to the UK’s largest operators, wanted to bring clarity and momentum to their strategy. By understanding the needs of operators and care home residents, we sought to develop a sound business case and compelling value proposition for the client – providing them a strong strategic footing to leverage and grow their business.
Approach
INTERVIEW PROGRAMME: Frank discussions with internal stakeholders about the strengths and issues with current contracts; understanding the independent viewpoints of leading academic and industry experts; listening to senior executives at leading operators to fully understand their business needs; speaking with care home residents and their families about their experiences.
SIZING THE OPPORTUNITY: Modelling work to create a “size of the prize” analysis of the support services opportunity in the market and a segmentation exercise to inform decision makers of market structure and dynamics.
WORKSHOP: The extensive findings from the interviews, modelling and desk research were summarised in a detailed situation assessment. We facilitated an internal workshop with senior Executives to discuss the findings and work towards developing a value proposition and long-term strategy for the market.
BUSINESS DEVELOPMENT ACTIVITIES: Development of a white paper for the client to use in engaging existing clients and prospects around development opportunities.
Outcome
A compelling value proposition for the client to organise its offer to the care home market – enabling it to stand out from the crowd.