NATIONAL: Number of care facilities making a profit increasing, says Stewart Brown survey
Accounting firm Stewart Browns Aged Care Financial Performance Survey for 9 months to March 31 reports improved performance across 468 aged care facilities. A snapshot: ?76% of facilities made a profit (up from 65% last year) ?Ave...
Accounting firm Stewart Browns Aged Care Financial Performance Survey for 9 months to March 31 reports improved performance across 468 aged care facilities. A snapshot:
?76% of facilities made a profit (up from 65% last year)
?Ave. EBITDA per bed was $7,172 pa for top level High Care, $3,650 for bottom level Low Care
?Top Quartile / top level High Care facilities (total sample 19) delivered EBITDA per bed of $17,195pa
The question remains: is $17,195 a worthwhile return? If a new bed costs $200,000+ to construct then the return is just 8.6%pa - and that is for the best operators who most probably have a sizeable mix of 4 beds to a room not singles with ensuites, with the higher staff ratios required - what the market wants.
