The Australian Aged Care industry is facing a complex set of moral, financial and reputational challenges.
With widespread allegations of abuse surfaced through the Royal Commission into Aged Care Quality and Safety, financial reports highlighting negligible margins and losses, and government priorities rapidly shifting, CoreData’s Aged Care: A Sector in Turmoil whitepaper paints an evidence-based picture of the issues and how providers can address them in an increasingly difficult operating environment.
For residential care, our paper explores ongoing issues of occupancy, profitability, workforce skills shortages and reputation, and highlights that more than one in 10 beds in residential facilities are empty.
As providers collectively grapple with the challenges presented by Australia’s residential aged care system and the external forces influencing demand and supply, ownership of available residential care places has steadily shifted toward for-profit providers over time.
At the same time, we discuss the rising prominence of the home care sector and how the human costs of home care package wait times and the COVID-19 pandemic threaten to undermine its potential. In the last two years, 28,000 people have died waiting to receive home care services, an increase of more than 10,000 since 2018.
Looking forward, we offer tips for providers to navigate these challenging times, and encourage a focus on person-centred care, becoming an employer of choice and adapting service offerings to meet the future needs of customers.