Leading Age Services Australia (LASA) has released an independent study that shows ACFI changes in the last budget will generate residential aged care by:
July Dec 2012 $98 million losses
2013 $300 million losses
2014 $353 million losses
LASA CEO, Gerard Mansour, says the losses grow as more residents get assessed under the new rules. The average loss per resident will be $56-63 per day. If correct this will wipe out all profit in residential aged care, given the Stewart Brown survey states the top quartile return of 500 facilities surveyed was $43.65 profit per day. LASA wants the Government to add a further $1.1 billion for bricks & mortar aged care over the next four years plus a 1.6% annual increase in ACFI rates. The LASA study had a sample of 275 care facilities with 18,345 residents.
Community Living
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...
