Leading Tech Startup ‘Building’ Forty New UK Care Homes in 2019
Award-winning live-in care startup, Elder, ‘built’ the equivalent of 20 care homes last year, is projecting thirty more for 2019.
As the UK care home sectors continue to struggle with a combination of an ageing population, coupled with a lack of funding to get new projects off the ground, Elder is celebrating unprecedented growth by using unique technology to make care in the home a suitable alternative.
While financial pressures are forcing traditional care homes to increase size (read Aged Care Financial Advice for more on this), Elder is focused on delivering person-centred care.
The platform uses its continuously evolving matching algorithm to act as an introductory agency, matching professional and vetted live-in carers with families across the UK. This same technology allows them to provide a carer within as little as 24 hours, unprecedented in the sector. These carers are now operating in over 300 towns and cities nationwide, from south-west England to the Isle of Skye.
As the population continues to age, demand for care will increase and the types of care needed will change. The Office for National Statistics predicts a 36% growth in persons aged 85+ between 2015 and 2025, from 1.5 million to 2 million. This is expected to lead to a substantial increase in demand for care home services. However, Elder’s platform is changing that.
After only three years, Elder is already the country’s leading specialist for live-in care, and only two months into 2019 it’s already created over five care homes. After showing growth of over 800% between 2017 to 2018, the company was awarded the accolade of ‘the third fastest growing company in the UK’ (according to revenue) by TECH5 at the beginning of 2018.