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Contribute to ACSA's Submission to the Royal Commission-Capital Financing for Residential Aged Care

The Royal Commission’s Funding, Finance and Prudential Regulation Sydney Hearing 5 - is currently underway with an array of high-profile witnesses, academics and researchers exploring a raft of options including those outlined in the 2011 Productivity Commission’s ‘Caring for older Australians’ report.


17 Sep 2020

The Royal Commissioners into Aged Care Quality and Safety have released a paper on 11 September - describing the history of capital financing arrangements in residential aged care, outlining how the current arrangements operate. Capital Financing for Residential Aged Care contains a number of questions for consideration including whether current arrangements support effectiveness and efficiency and prudential oversight risks, and raises concerns about the way in which arrangements may affect the viability of providers to maintain a sufficient standard of accommodation into the future.

 

The Royal Commissioners are making inquiries into whether the current capital financing arrangements in Australia are appropriate and sufficient for the future requirements of residential aged care, and whether there are improvements to these arrangements that should be recommended. The amount of capital investment necessary in residential aged care for the future requires careful consideration. In 2019, the Aged Care Financing Authority estimated that the combined total investment for new and rebuilt residential care places over the next decade will be about $55 billion.

 

Have your say…

ACSA is seeking input from our members on Capital Financing Arrangements. Please send your feedback directly to Derrick Dittrich, Senior Manager – Strategic Policy at Derrick.Dittrich@acsa.asn.au by 23rd September 2020.

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