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