The recommendations of the Aged Care Royal Commission could provide some unique opportunities for retirement living organisations.
The increased availability of home care packages – particularly higher-level home care packages with residential care equivalent funding – opens up greater opportunities for retirement living providers to offer congregate home care arrangements.
Likely removal of the ACAR will also make it much easier for retirement living organisations to add a small amount of residential care capacity to their existing locations.
Reform across the retirement living landscape is in full swing.
Victoria will issue their options paper for stakeholder review in early February. Mandated buybacks, limiting recurrent charges after departure, mandated accreditation, code of conduct and training are just some of the options being proposed in Victoria.
Similarly, Western Australia are midway through their consultation process with a keen eye on the East Coast reform, taking pieces out of the Qld, NSW and Victorian reform outcomes.
NSW Parliament has just approved key reforms for NSW retirement villages with 6- and 12-month buy back requirements, an aged care rule and the cessation of recurrent charges after 42 days all now being enacted.
Queensland has just completed a review of the payment of exit entitlements (outcomes yet to be released) and major changes are expected including the introduction of an aged care rule.
Join us as we examine some of the challenges but more importantly the opportunities that may arise out of the Royal Commission and the reform process across the retirement living landscape. You can learn more here.
