The number of residential aged care providers making a profit has decreased by 12 percentage points to just over half, the seventh Aged Care Financing Authority report shows.
The overall performance of home care providers declined in 2017-18 and financial pressures are continuing, a key sector report says.
A report has recommended reducing the number of respite days that aged care facilities are allowed to offer amid concerns that some people are using respite as a “try before you buy” system and crowding out those in genuine need.
Daily payments were preferred over lump sums to pay for residential aged care accommodation in 2016-17, the first time since the 2014 reforms, the sixth Aged Care Financing Authority report shows.
Home care providers are holding $329 million of unspent funds on behalf of consumers and this could increase substantially in the medium term, ACFA says in its latest report.
The Aged Care Financing Authority has commenced a review into the use and funding of respite care services in Australia.
In this wrap: Mike Callaghan to replace Lynda O’Grady at ACFA; Uniting AgeWell appoints Raelene Thompson as new chair; and ECH’s David Panter elected to LASA board.
Limited data on the Commonwealth Home Support Program is hindering the sector’s understanding of the largest part of the aged care system, sector leaders have told a national aged care conference.
For-profit and metropolitan providers continue to outperform other operators and financial performance across the board is strong with profit and investment up, according to the Aged Care Financing Authority.
The reforms to residential aged care payments have largely met its objectives, but there is evidence some providers are not allowing true choice of payment.
More than half of home care providers are charging consumers less than the maximum basic daily fee amount and 22 per cent are waiving the fee altogether, a new survey finds.
Providers should contribute to costs of any scheme guaranteeing lump sum accommodation payments if the benefit exceeds the cost, says the Aged Care Financing Authority.
The Aged Care Financing Authority’s proposals to change the arrangements around government-supported older people in residential aged care have drawn a mixed response among provider groups.
There is no compelling case to change the Accommodation Bond Guarantee Scheme in aged care given most aged care operators have adequate prudential arrangements and the government can already levy industry to recoup costs, providers will tell the Aged Care Funding Authority’s review of the scheme.