Stewart Brown survey reveals aged care income growth of just 2.8%

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Accounting firm Stewart Brown surveys 585 aged care facilities each Quarter to identify who is making money out f care services and what are their costs. Their latest results suggest the Government is clawing back ACFI income with the average surplus slumping to just $5.95 per bed per day.
In summary, the survey results show:
• the average income of $200.50 per bed day
• the average facility result was $5.95 per bed day which is less than the $8.24 per bed day average result for the year to June 2012
• income growth per bed has collapsed to just 2.8%, down from 7.5% last year
• the average facility EBITDA was $6,817 per bed per annum compared to $7,621 for the year to June 2012
• the facility result represents a return on income of only 3.0% per annum which is down from 4.25% at June 2012.

The graphic below shows the trend in residential aged care results averaged across all facilities since 2007