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Aged care enters a pressing cost management phase

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It could be said that from the initiation of the new Aged Care Funding Instrument (ACFI) in March of 2008 that the aged care sector was in a ‘revenue phase’ that saw the cumulative Care Income grow to 71% at March 2017 as shown in Figure 1.

FIGURE 1 Cumulative revenue

Now there will be a number of people who may see this figure and suggest that providers have done very nicely out of this growth, but while the revenue grew, so did the costs. For example Care Wages grew more than 75% in the same time period.

During this same period the Care Result (care revenue minus care expenses) grew from $4.40 per bed day in June 2007 to a sector high of $14.92 in September of 2011.

Then the first fiscal cliff appeared as the government looked to reign in the growth of their share of care revenue, so that by June 2013 the Care Result had fallen back to $6.79 per bed day. 

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March 2017 Aged Care Sector Reports Released

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The StewartBrown Aged Care Financial Performance Survey incorporates detailed financial and supporting data from over 865 residential aged care facilities and 475 home care programs across Australia. The quarterly survey is the largest benchmark within the aged care sector and provides an invaluable insight into the trends and drivers of financial performance at the sector level and at the facility or program level.

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December 2016 Aged Care Sector Reports Released

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The StewartBrown Aged Care Financial Performance Survey incorporates detailed financial and supporting data from over 830 residential aged care facilities and 455 home care programs across Australia. The quarterly survey is the largest benchmark within the aged care sector and provides an invaluable insight into the trends and drivers of financial performance at the sector level and at the facility or program level.

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September 2016 ACFPS Sector Reports Released

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We are pleased to release our sector update on the September 2016 survey which follows the individual participant reports issued prior to Christmas. In keeping with tradition we have kept the September updates relatively brief and will be readying ourselves for a more extensive report on the half yearly December 2016 survey.

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