These are retirement villages, not aged care homes, and we call it private aged care.
While we have been banging on about this model for several years, we are seeing the early green shoots of a new, significant sector, being driven by the new customer’s demand.
Aged care operators (and retirement village operators) should educate themselves as we believe in the next three to five years this will be the dominant retirement village model.
There are two key points. The first is that customers are driving this movement. They don't want residential aged care. They understand they are now paying for home and residential care in bigger licks of cash and, being baby Boomers, they want better if it is costing them money.
Second, this works for the new village operator that is prepared to offer more, with the increased service complexity of care. Because under the Retirement Village Acts they are not bogged down and brow-beaten by the the relentless change and reforms that residential aged care undergoes. And the operator has control of revenue, not the Australian Government.
These new operators are creating welcoming communities, well-staffed, and that puts the customers and their families at ease.
LDK, Odyssey, Grandton, Hyegrove, Anglicare Sydney, RetireAustralia and now Esprit de Vie are leading this charge into this private aged car model – and beating all sales estimates.
Of particular interest is Anglicare who is retrofitting existing villages, priced at the top end, mid-level and with ambitions for the lower valued villages.
If you would like to learn more, you can at our LEADERS Breakfast series in Brisbane, Sydney and Melbourne. Check out the ad in this newsletter.
Within three to five years customers will have dictated this is the model they want – and will pay for.
