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Professor Warren Hogan is teaming up with business consultancy firm, Grant Thornton to conduct a comprehensive, national survey of the residential aged care sector.
The survey will be the first major review of residential care since Professor Hogan’s Government-commissioned Review of Pricing Arrangements in Residential Aged Care was published in 2004.
With input from service providers and industry peak bodies, the survey’s creators hope to provide a thorough overview of industry trends.
Grant Thornton’s Aged Care Director, Cam Ansell said it was a privilege to work with Professor Hogan and the industry on the initiative.
“This research will provide invaluable information for industry participants and policy makers to facilitate positive change for the benefit of our rapidly ageing population,” he said.
A key focus of the review will be the changing needs and desires of residents and the impact that this will have on the financial performance of providers.
It will be conducted at no cost to government or aged care providers and all survey participants will receive the results free of charge.
Professor Hogan said the survey would provide aged care operators with an accurate picture of where they stand.
“This initiative represents a truly independent national aged care survey that will facilitate the development of an uncompromised report and will enable
providers to glean a realistic appreciation for their commercial competitiveness,” he said.
Mr Ansell said the survey would give providers more relevant and concise information than the general purpose reports conducted on behalf of the Commonwealth Government as a requirement for the Conditional Adjustment Payment (CAP).
“Unfortunately the previous reports generated from general purpose financial reports have limited value in terms of determining the key drivers of financial trends in the sector and do not enable improved sector efficiency through financial benchmarking,” he said.
It is expected that the report from the survey will be available before the end of the year.
Click here to take part in the survey.
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