Kate Jopling, senior public affairs officer at Help the Aged, said: "This is something Help the Aged has been calling for for some time.
"The shift to place greater emphasis on promoting good health and well being for older people is a welcome step forward.
"A preventative approach to older people's health is vital to ensure not only the well being and quality of life of all people as they grow older but to alleviate some of the pressures on resources as our ageing population increases.
"For example, by reducing falls by a third, more than £175 million of public money could be saved every year. We would like to see every local authority striving to produce innovative schemes to help older people stay independent and in their own homes for as long as possible."
Stakeholder Response: BUPA
Mark Ellerby, managing director of BUPA Care Services, said: "While care at home helps many older people to live independently for longer, for those with higher dependency needs a nursing home provides the most appropriate environment in which to receive the care they need.
"A greater number of people are living longer and more active lives and no one welcomes the prospect of requiring long term care. But for many older people care at home is not a practicable option.
"A residential care home can offer a greater level of security, social contact and interaction, and this is often preferable to being isolated and alone at home.
"Care homes are also the most cost-effective model for cash-strapped local authorities. The cost of providing 24 hour care for the most frail and dependent of our elderly population is prohibitive.
"The capital cost of replacing the UK's residential care beds with "extra care" apartments is in excess of £30 billion. We are committed to the care home sector and work closely with local authorities to develop new models for the provision of care that is tailored to the needs of the individual."
Stakeholder Response: NHS Confederation
Jo Webber, policy manager, NHS Confederation said: "This announcement will be welcomed by the NHS and colleagues in social services, not only because of the extra funding but also because of the way it emphasises partnership working and promotes the treatment of people in their home when possible – this is better and more comfortable for the patient, and also means hospitals resources are only used when it is most appropriate.
"The best way to make real progress in improving the lives of people with long-term conditions, most of whom are elderly, is to approach their care in a coordinated manner – improving their health and quality of life is not the responsibility of the NHS alone, but also of other partners in the public sector."