At our LEADERS SUMMIT Nick Loudon, CEO of Seasons Private Aged Care, gave a strong presentation on the need for village operators to embrace the delivery of private aged care, not simply sponsoring home care: “You have to go the whole hog”.
Seasons has now built 620 village units and is bringing online another 120 a year. Nick explains he separates ‘accommodation’ from ‘care’ and charges separately for both.
Accommodation earns 8 to 12% each year while care delivers $50 a day in revenue, generating $9M in the past 12 months.
The Seasons offer to potential residents is that once they pay their ingoing contribution (Nick says this an accommodation ‘bond’ like any other lease), they will never have to pay another cent for the rest of their stay, including for their care services. Private care fees will be deducted interest free from their departure settlement.
He also revealed that Seasons is recognised by the ATO as a care provider; they are GST free and input tax exempt.
All thought provoking stuff. Check out the video.