Aged care building and refurbishment a $4.9B a year business

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The Government’s report into the Aged Care Act (discussed above) revealed that in the 12 months 2017 – 18 the residential aged care sector completed $4.9 billion worth of building, upgrading and refurbishment of aged care homes.

That equates to $942M every week or $188M every working day (including public holidays).

In summary, a sector under extreme financial duress continues to risk its balance sheet to maintain quality facilities for its residents.

Again interestingly, the sector labelled as cruel and neglectful, across 873 operators had had 55 Notices of Decision to Impose Sanctions to just 36 providers due to failure to meet quality standards.

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