How many people understand the metrics of the aged care sector in Australia today. A troll through all the Senate submissions for the Aged Care (Living Longer Living Better) Bill 2013 brings it all to light in one place. Here is a snapshot:
In 2011/12 the Federal government spent $8.7B on residential aged care, $1.1B on community care packages and $1.4B on the HACC program - total $11.2B
There are approximately 1,100 residential aged care providers with 2,772 facilities (ave. 2.5 per operator). 52% are not-for-profit and 38% are private
Residential care beds are allocated by geographic region on 4.4 beds per 100 people aged 70+
34,000 people receive low care plus 6,000 are in respite. 130,000 are in high care total 184,000 people receiving residential care
Government expenditure per person, approximately $50,000 each p.a.
210,500 residential care places had been allocated in 2011/12 but only 184,570 have been taken up and made operational meaning 12% of allocated beds are not being utilised
Low care average length of stay is 3.5 years; high care is 2.7 years
Average EBITDA: not for profits $7,656 per bed per year, private operators $10,480 per bed per year
Average bond: not for profit $173,000, private $214,500
Exclusive: Aveo to sell off its retirement villages in South Australia and Tasmania
Tony Randello, CEO of the nation’s leading retirement village provider, said the impending sale of its 16 retirement villages in South Australia and Tasmania “aligns with Aveo’s regular strategic review of opportunities across its portfolio”. The...