Rural, outer regional and remote providers will need to have a thorough understanding of their facilities to navigate the forthcoming findings of the royal commission, an industry expert tells Australian Ageing Agenda.
StewartBrown senior partner Grant Corderoy said providers should be clear about of the overall financial, operational and clinical performance of their facilities.
“We know from our [benchmarking] survey that up to the last year nearly three quarters of homes in regional and rural areas are running an operating loss, and the ability to change that around requires a combination of factors,” Mr Corderoy told AAA.
“The first thing that they should be looking at is their own profitability, but then also preparing themselves to say, ‘okay, if we outsource many of these back office functions and also get some expertise how is that going to improve the business?’”
Mr Corderoy said it is important for providers to continually ask themselves how they are going to improve the performance of their business.
“It’s really a matter of looking at what their circumstances are,” he said.
Mr Corderoy is presenting on the implications of the royal commission recommendations for rural, outer regional and remote providers next week in a webinar hosted by PACE Care, which is a collaboration of local community aged care providers using a shared services organisational model.
The webinar will address:
- how the key findings will affect providers
- likely changes for organisations
- what providers can do to futureproof their organisations
Mr Corderoy said the recommendations will likely focus on quality, safety and increased compliance, which will lead to more care hours for residents.
“That’s going to impact human resources, rostering and hiring,” he said.
The royal commission is likely to recommend one point of entry for aged care services, which means merging residential aged care, home care packages and the Commonwealth Home Support Program, Mr Corderoy said.
“That’s going to require major change for smaller providers, and this [webinar] will provide them an opportunity as a collective to navigate through fairly important structural changes that can happen,” he said.
From the webinar, Mr Corderoy said he hoped to help delegates understand the likely outcomes of the royal commission ahead of the report’s release and focus on their current business model and skillsets.
“This is an opportunity for providers to really look at where they are financially. It is also an opportunity for them to look at ways they can improve their overall operation.”
The webinar takes place on Monday 22 February at 1pm AEDT.
Find out more here.