The Care Fee Calculator is the only tool that will help you accurately review your current care fees and help you set the care fees your business really needs
Key Benefits
Create accurate, detailed care fees that you can fully justify.
Review the fees you are receiving against your current costs to see the real profit or loss you are making on each.
See the financial impact of a fee your commissioner wants to pay for a new client.
The Dashboard and Analytics section will give you the vital information you need to be in control of the income generated and profit returned.
Store all your client fee details securely so you can refer to them and instantly create new versions when your costs increase.
Key Features
Set a Stable Minimum Breakeven Point for Your Care Fees
Your fixed and staff costs must be spread equally across your clients' care fees.
An average fixed cost can be easily established but with high staff turnover and recruitment issues, establishing a stable weekly staff cost can be a real challenge.
The Care Fee Calculator will calculate your staff costs based on the ideal staffing levels you need for your ideal or usual number of clients.
Now you can set care fees based on a stable minimum breakeven point regardless of your staffing levels at the time.
Calculate Your Significant Extra Employer Cost
Your hourly rates and salaries need to include Extra Employer Cost which covers National Insurance, pension contributions - On-cost - and the cost of covering staff when on holiday, training or off sick - Cover cost.
Cover cost alone can be as much as 20% to 25% for some providers. That's the percentage of your total staff costs that you will pay if you don't include in your care fees.
The Care Fee Calculator will work out just how much your extra employer cost is and add it to your hourly rates and salaries.
The Care Fee Calculator will ensure this significant extra cost is included in your fee quotes, so you are charging for the true cost of the care you deliver.
Set Real Average Hourly Rates to Calculate the True Cost of Care
With extra employer cost added, the Care Fee Calculator will calculate the real hourly and salary cost for all your staff to ensure your total staff cost and minimum breakeven point is accurate.
The tool will also calculate the real average hourly rates for your care and nurse teams and will include agency staff rates if you use them.
The cost of the care you provide will be based on these real rates.
Using these real average hourly rates the tool will accurately calculate the real cost of the care you deliver.
Detail How Much Care Each Client Can Receive
With the Care Fee Calculator you can detail exactly what care an individual person needs and ensure that the cost of the care is covered by the fee.
Based on the carers (and nurses) normally on duty, the tool will show how much daily 'standard' care each client can receive.
The cost of this 'standard' care is part of your care and nurse staff costs.
Enter the care a person needs in a care quote and the tool will show how much of this care can be used as part of this daily 'standard' care allowance and hence how much should be entered into the 'Extra' or 'Specialist' care tables which the tool will calculate the cost of and add to the fee.
This way the tool will ensure you don't end up paying for care you are delivering.
Establish an Individual Breakeven Point
Having entered all the care a person needs the Care Fee Calculator will calculate the cost of any 'extra' or 'specialist' care based on the average hourly rates previously set.
It will also include the cost of any medical sundries or specialist equipment you have specified.
On top of the minimum breakeven point from which all fees start, you now have an individual breakeven point - made up of the minimum breakeven point and any extra care, medical sundries and equipment needed for this person - that covers all your costs.
This detailed calculation of your costs will help you justify every penny to any commissioner who wants to pay a lower fee.
Set a Fee That Keeps Your Care Business Financially Viable
Like any business, you need to make enough profit to sustain it and for it to be resilient enough to survive during tough times, to cover unexpected costs or to invest in improving or expanding your organisation.
Before adding your profit margin, the Care Fee Calculator allows you to add an Impact Analysis percentage to your breakeven point. This is a future cost rise contingency or cushion.
Add your target profit margin percentage and the tool will calculate that profit in monetary terms and show the care fee you need to achieve that profit.
If there is an annual uplift from your local council you can add that here and see your final fee.
Because your costs have been accurately calculated, you can be confident that you can provide the care a person needs on this fee and return the profit your care business needs.
Know the Financial Impact of a Fee that is too Low
The Care Fee Calculator includes a powerful care fee comparison table.
Use this table to instantly compare a current care fee or one being offered for a new prospect with the fee you have calculated you need to cover your latest costs and return your target profit.
The table will show you how much profit or loss you are making on a current fee, or would make if you accepted that fee.
It also shows you how much that profit or loss totals over a year and how much profit you would make if you received the fee that you have calculated you need.
This powerful comparison table will give you the clarity needed to make informed decisions.
Create and Store Accurate Quotes and Use Them to Review Your Fees
New 'live' quotes are based on your current costs. Create a new 'Live Quote' for each of your clients and add them (and new clients you win) to your 'Current Clients' library.
'Live Quotes' will always show fees based on your latest costs, so as your costs increase so will those fees.
Fees in the 'Current Clients' library are protected from cost rises and will retain the costs at the time the quote was created.
This ensures you keep a record of the quote you created at that time and can review at a later date.
Reviewing your care fees is quick and easy. Simply, click the 'Review Fee' button and a new version of the quote will be made 'Live Quotes' keeping the original version in 'Current Clients'.
This new version will show your fee based on your latest costs and hence how much profit or loss you are actually making on that client.
Everything is stored securely in the cloud and accessible from anywhere at any time.
Stay in Control of Your Financial Health
The Care Fee Calculator boasts a new, powerful Dashboard and Analytics feature.
Now you can see your costs and how much revenue and profit you are making overall and on each fee.
You can see just how much your profit has reduced since you created your fees and your costs have risen.
You can also compare what you are making versus what you could be making if you received the care fees you calculated you need.
See what revenue and profit you are making by client type as well as their average fees, profit and more.
These powerful new features will ensure you remain in financial control of your care business.
The Multiple Users Feature Offers Enhanced Security
The Care Fee Calculator's multiple user feature is a valuable addition to the software, enhancing its functionality and usability.
With this feature, users can easily manage access to the tool by adding, editing, or deleting users as needed.
This capability not only streamlines user management but also ensures accountability by tracking who has accessed the software.
Whether you're collaborating with a team or administering the tool in your care setting, the multiple user feature offers the flexibility and control necessary for efficient and secure usage.
No Risk Money-back Guarantee
I want you to be sure that this tool is going to work for you. I want to eliminate any doubts that you may have by letting you try this tool for free.
Try the Care Fee Calculator for
30 days for free.
If at anytime during this 30-day trial you decide that this tool isn't for you, simply let us know and we'll make sure your payment isn't taken.
You have nothing to lose and the potential to take control of the financial health of your care business.
