Slight financial boost, says report
But greater level of consumer co-contribution needed to sustain sector.
Home care revenue has increased, according to the latest industry analysis.
Crunching home care finances from data derived from 64,423 home care packages, StewartBrown’s Aged Care Financial Performance Survey Report for the June-September 2023 quarter shows home care finances increased by $9.39 to $75.78.
Source: StewartBrown Aged Care Financial Performance Survey Report
However, the report also shows that the average operating profit per client per day decreased by $1.33 (37.4 per cent) to $2.23 – Sep-22 recorded $3.56.
Other findings include:
- staff hours increased with care recipients receiving an average of 5.32 hours of care
- unspent funds rose slightly to an average of $13,164 per care recipient – total unspent funds nationally stands in excess of $3.2 billion
- care management cost as a percentage of revenue fell to 10.2 per cent during the period compared to 11.2 per cent for Sep-22
- administration and support costs represent 26.5 per cent of revenue – an increase from the same period last year of 24 per cent.
To ensure the future financial sustainability of Australia’s aged care sector – and ahead of the final report of the Aged Care Taskforce which is due to land by the end of the month – StewartBrown concludes its report, which also analysis the finances of the residential aged care sector, by once again calling for “a greater level of consumer co-contribution in funding aged care.”
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