Facilities to receive free KPMG financial advice

KPMG Advisory Services have contacted all residential aged care facilities to offer their free financial, planning and advisory services (funded by the Government) to assist them in managing the change to the Aged Care Funding Instrument (ACFI).

Providers with only a small number of services, with a high percentage of low care residents and those that are in regional and remote locations will receive priority service.

KPMG is able to provide the following types of services:

• Financial modelling of the likely financial impact of the transition to ACFI for the next five years
• Estimates of the optimal ACFI mix for a facility including the required resident mix to achieve a given level of profitability
• Strategic planning and related budget forecasting (for example, the impact of increasing occupancy, expanding the facility or merging two facilities into one)
• Business analysis and operational reviews including benchmarking and analysis of in house vs. outsourced service provision (for example, laundry, cleaning and kitchen services)
• Analysis and recommendations on human resource management and workforce planning with the aim of realising savings on employee costs or improving care management of residents

KPMG’s team comprises accountants, financial business analysts and specialists with clinical backgrounds and each member of the team has experience advising in the aged care sector.

They will not be duplicating accounting or auditing services that aged care providers already obtain from their own accountant.
 
To confirm eligibility or get more information about ACFI Advisory Services visit http://www.acfi.kpmg.com.au