Short-term funding has held back care, says watchdog

By Michael Burton | 25 March 2021

Short-term funding has held back investment in the unstable £16.5bn adult social care market despite a forecast 57% in demand from the over-65s by 2036 says a report from the National Audit Office (NAO).

Some 76% of care homes for older adults and adults with dementia are for-profit while of the remaining 24%, 14% are not-for-profit and 10% are run by a local authority or the NHS.

Yet some 55% of large for-profit care homes and 39% of large for-profit care at home providers reported a return on investment of less than 5% in 2019.

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Finance Adult social care NAO