Revenue Model
Equal Care Co-op will use a mixed trading model, using the commission basis adopted by other platforms, supporting people funding their own care and people receiving Local Authority direct payments and Continuing Health Care Payments from the NHS. Commission will be on a per hour basis and start at 15%.
By taking ongoing responsibility for the care and support offered and giving regulated provision, they will move beyond this to engage directly with commissioning opportunities offered by local authorities and the NHS. Equal Care Co-op want to offer a genuine alternative to the privately-run for-profit social care providers that currently dominate the market.
This includes:
- ‘Individual Service Funds’ and other forms of managed personal budget which requires a tendering process
- Block contracted home and community social care services covering a fairly broad range of service types and ensuring we support a mix of ages and experiences of different conditions e.g. domiciliary care provision, floating support contracts, time-banking project, peer support and befriending services
- Framework Agreements with local authorities to respond to spot purchasing contracts for individual care and support
- Any Qualified Provider agreements with NHS community based services
- Private contracts with other care providers requiring emergency / agency staff
For these contracts they will set aside a small surplus charge to re-invest in the co-operative. Equal Care Co-op expect to become fully sustainable by 2022.