The Not For Profit aged care and private hospital provider revealed a $40 million operating deficit in its financial statements for 2019, with a final “comprehensive loss’’ of $16.5 million after a revaluation of its property delivered another $23.6 million on paper.
The provider – which operates 56 aged care homes under Blue Care as well as four hospitals and provides services in the Northern Territory – says the sector needs more public funding.
“We serve regional and remote communities where the for-profit providers often choose not to go,” UnitingCare Queensland corporate affairs director Matthew Cuming told the Courier-Mail.
“We need urgent federally led structural and funding reform to ensure our sustainability.”
As we covered here, Leading Aged Services Australia (LASA) has been leading calls for $1.3 billion in extra taxpayer funding over the next 18 months to prevent closures.
The sector has come under fire in the Royal Commission for being profit driven and providing poor care on taxpayer dollars – I note that UnitingCare only receives 41% of its revenue from government.