Pre-COVID, aged care providers could build a new bed for $250,000. Today, the cost is closer to $500,000 in regional Australia with cheaper land, and $600,000 in capital cities.
However, revenue has only increased marginally and profit per bed ranges from negative to less than 10%, even for the most efficient operators.
On paper, it’s a mugs game. So, where to from here?
Carrington Care Chief Executive Raad Richards in an exclusive interview on the cover.
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