Aged care provider peak bodies have reiterated concerns about the viability of facilities in rural and remote areas following a new analysis on the financial performance of these services.
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The number of loss-making facilities in outer regional, rural and remote areas is on the rise, with homes in South Australia struggling the most, a new report shows.
The Federal Government has announced a $50 million initiative to support residential aged care services in financial trouble to improve or cease operations.
Aged care provider peak bodies have raised concerns about the sector’s unsustainability in the wake of StewartBrown’s recent report showing a further decline in financial performance.
Analysts have found ‘merit’ in the government’s planned overhaul of home care funding.
Unspent home care funds continue to rise, with some $800 million, or more than $7,000 per client, sitting in coffers around the country.
The amount of aged care homes operating at a loss has tipped over 50 per cent for the first time, StewartBrown’s latest report on the financial performance of the sector finds.
Seven organisations representing aged care providers have come together to call on the Federal Government to address the sector’s urgent funding and accessibility issues in the December mini-budget.
The directors of aged care organisations have a range of duties to consider in times of insolvency or mergers and acquisitions, writes Alison Choy Flannigan.
Almost 200 residential aged care providers with more than 30,000 residents have insufficient funds to cover their liabilities, according to a new analysis by Leading Age Services Australia.
The financial performance of residential aged care facilities has declined further despite this year’s one-off funding boost, a new industry report shows.
The average amount of unspent home care funds held by providers has increased by around $1000 in the last year to just under $7000 per client.
The revenue of three-listed aged care providers has increased but so have costs including for the aged care royal commission, StewartBrown’s latest analysis shows.
The deadline for aged care stakeholders to register interest to attend the Hobart or Darwin forums on the impact of new approaches to allocating residential places has been extended until the end of the month.