New Home Model – impact of development on earnings
Annual Development Impact by Home
▪ Opening a new home creates a “development drag” on earnings a s homes build up to capacity ▪ To ensure high quality care Greensleeves allows 18-24 months to reach full capacity ▪ This has risen to 36 months over covid ▪ Following greater competition for staff due to the national workforce shortages ▪ This allows management to phase room opening as staff are recruited and trained
The chart to the right demonstrates the annual change in development impact
▪
to provide appropriate resident care
Years impacted
▪ Development drag increased in 2022/23 and 2023/24, reflecting Covid and the aftermath ▪ New homes tend to lose money during the first year of operation, moving up to full earnings 2.5 – 3 years later. ▪ We set out the homes involved in Development Drag and their removal form this category
Home
2018
2019
2020
2021
2022
2023
2024
De Lucy House Lavender Fields
240,093
1
1,586,264
345,216
2
1,289,056
315,086
The Orchards
2
Henley House
336,678
393,103
2
Clarendon Lodge Buckler's Lodge
544,633
571,522
668,780
3
1,913,786
2,232,322
2,404,286
3
906,281
1,383,740
Meadowcroft
2
Mount Ephraim
1,055,786
1,130,193
2
Impact
17
240,093
1,586,264
1,634,272
1,196,397 2,878,411
4,863,169
4,918,219
Made with FlippingBook flipbook maker