SATURDAY Issue 75

Opinion: does Anthony Albanese truly care about older Australians or is he simply another cynical politician?

The Government has stalled the inclusion of the Aged Care Taskforce recommendations in the Budget next week. This is deeply concerning. Valued at $3.8 billion per year by StewartBrown, the recommendations would have a marked impact on the four year...

Has Labor delivered on its pre-election five-point plan for aged care?

After two years in power, Anthony Albanese’s Labor Government has made headway on its aged care election promises – but you can check out the list below and rate a pass or fail. The report card on the Government’s aged care performance is...

Despite the cost: “Build it and people will come”, says Raad Richards

Construction prices are increasing, causing many operators to place projects on hold. Carrington Care Chief Executive, Raad Richards, is undaunted, adding over 300 ILUs plus residential aged care to his already significant one location outside...

Raising the bar on dementia training in aged care

With a new national framework on dementia training and education set to launch in July, a new online tool is making it simpler for aged care providers to upskill their staff. With over 400,000 Australians living with dementia – and this figure...

$575K to build an aged care bed - if you can find a builder, as big players say ‘no’ to sub $50M developments

Established retirement and aged care sector builders are contacting clients to inform them they are no longer able to do their projects. Boards and banks are increasingly having to face up to going big on construction programs if they want to have...

“Damned if you do, damned if you don’t”, so build $75M-plus RACs

Building new aged care beds has doubled in cost in the past four years, jumping from $250,000 to $500,000-plus, while revenue has moved just a little and profit per bed ranges from negative to sub 10% positive return for the most efficient...

Regional RAC construction case study: bed cost doubles in two years to $708K

This operator wanted 72 new beds to replace 61 beds dating back to 1973, but the $24 million construction cost jumped to $53 million while locals can only afford a $300,000 RAD. Stand-alone Not For Profit Wongaburra Society, based in Beaudesert...

Does this pass the pub test? Retirement villages priced at 65% of the median house price

With construction costs up 30 to 40% and retirement villages at a planning disadvantage, is it time for village operators to give up being the ‘affordable option’, especially if they want a future. In recent years, the average two-bedroom...

Executive spotlight

Over 2,000 operators provide retirement living, support and care to 1.3 million Australians. 360,000 staff and 100,000 suppliers are engaged every day. It’s a $30 billion a year sector delivering vital services for our older citizens. At SATURDAY...

Lauren Broomham

10 May 2024