The aged care sector is under significant stress following the Royal Commission into Aged Care Quality and Safety, COVID-19, regulatory reforms, workforce shortages and issues with procuring supplies of essential equipment such as personal protective equipment at higher cost because of supply chain issues.
The StewartBrown September 2021 Aged Care Financial Performance Survey incorporates detailed financial and supporting data from 1,198 aged care homes (97,080 beds/places) and 56,223 home care packages across Australia. The quarterly survey is the largest benchmark in the aged care sector and provides invaluable insight into the trends and drivers of financial performance at the sector level and at the aged care home or programme level.
The Survey for the three-month period ending September 2021 continues to highlight the declining financial sustainability of the sector, with residential aged care becoming a major focal point of consternation. The average operating results for residential aged care homes in all geographic sectors was an operating loss of $7.30 per bed per day despite the additional Basic Daily Fee supplement of $10 per bed day. Occupancy remains a major concern and the combination of negative factors has eroded essential investment from new and existing providers.
Nationally on average as at September 2021, 44% of residential aged care homes made an operating loss.
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