Limited data on the Commonwealth Home Support Program is hindering the sector’s understanding of the largest part of the aged care system, sector leaders have told a national aged care conference.
For-profit and metropolitan providers continue to outperform other operators and financial performance across the board is strong with profit and investment up, according to the Aged Care Financing Authority.
The reforms to residential aged care payments have largely met its objectives, but there is evidence some providers are not allowing true choice of payment.
More than half of home care providers are charging consumers less than the maximum basic daily fee amount and 22 per cent are waiving the fee altogether, a new survey finds.
Providers should contribute to costs of any scheme guaranteeing lump sum accommodation payments if the benefit exceeds the cost, says the Aged Care Financing Authority.
The Aged Care Financing Authority’s proposals to change the arrangements around government-supported older people in residential aged care have drawn a mixed response among provider groups.
There is no compelling case to change the Accommodation Bond Guarantee Scheme in aged care given most aged care operators have adequate prudential arrangements and the government can already levy industry to recoup costs, providers will tell the Aged Care Funding Authority’s review of the scheme.
The financial performance of home care providers improved in 2014-2015, with 72 per cent of providers recording a net profit, up six per cent on the previous year.
Aged care providers look increasingly likely to face a new charge to reflect the government guarantee on the mounting bond pool in aged care, with the reform roadmap calling for a review of current arrangements while a new analysis has highlighted the issue as a risk for providers.
Expensive and inadequate internet and mobile phone services hinder technology take up and further impact on the financial performance of rural and remote aged care providers already burdened with higher cost pressures, according to the Aged Care Financing Authority.
Aged care providers operating in rural and remote areas face extra challenges in their financial operations with higher cost pressures and lower financial results, according to the Aged Care Financing Authority.
The provision of aged care in rural and remote Australia has received a $5.79 million boost, with the Federal Government today announcing extra funding for 17 multi-purpose services in Queensland, NSW and Victoria.
Myriad social and economic issues in rural and remote areas are combining to seriously challenge aged care service provision, which providers say needs to be reflected in better policy.
The increasing pool of bonds in aged care – now at almost $20 billion – has caught the government’s attention.