More evidence of declining returns
Initial data from accounting firm Bentley’s 2008 aged care industry survey shows that the returns for the sector are continuing to decline overall.
The survey collected information from over 230 homes across Australia, with participants providing extensive details on operating income, government funding, resident classifications, staffing arrangements and management structures.
“The overall initial findings are in line with the general feeling in the industry that aged care services are facing increasingly challenging financial times,” the director of Bentleys’ health and ageing business unit director, Heath Shonhan, told online service Australian Ageing Agenda.
However, Mr Shonhan warned that changes, such as the transition from the Resident Classification Scale (RCS) to the Aged Care Funding Instrument (ACFI), made it difficult to compare the data with previous years.
The complete data set has not been made public but it has been given to participants for their own analysis.
Bentleys is currently preparing an industry report which is due for release in coming weeks.
