New finance service launched for care home operators

Healthcare Management Solutions (HCMS) is expanding its selection of services for the care sector to offer a bespoke ‘Finance Function’ to oversee the accounting and financial systems on behalf of private operators, receivers, administrators and lenders.

The HCMS Finance Function can manage sales and purchase ledgers, cash book and payroll, cash flow forecasts and importantly produce reliable and accurate management accounts and key performance indicators each month, utilising a safe and secure online portal system.

The function is handled by experienced, dedicated teams to ensure continuity of relationships and enhance understanding of the clients’ individual requirements. Additional central finance functions support payroll, administration, specialised credit control and project management services.

HCSM provides care home operators, owners, banks, financiers and insolvency practitioners with management, support, monitoring, business reviews and quality audits for the assets they are involved with in the care home sector.

Tony Stein, CEO of HCMS, said: “Care home operators of all sizes are struggling with a multitude of issues from a robust and demanding regulator to local authorities squeezing fees. Some also would really benefit from better financial systems to help you provide more comprehensive management information for lenders.”

“This is a very effective way of strengthening the relationship between the business and the bank at a time when it’s needed most.”

“The Finance Function offering enables care operators to focus on the main business of providing quality care.”

“This new package perfectly complements the expert management services HCMS currently provides to clients throughout the care sector.”

Tony Stein is chief executive of Healthcare Management Solutions