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StewartBrown Aged Care Financial Performance December 2019 Survey Sector Report

StewartBrown has released its Aged Care Financial Performance December 2019 Survey Sector Report, which you can access here.


30 Mar 2020

The Survey Report incorporates detailed financial and supporting data for 1,125 aged care homes and 36,529 home care packages across Australia for the six months ended 31 December 2019.

 

The analysis undertaken by StewartBrown confirms that the overall residential aged care results have deteriorated at a greater amount than anticipated, and with the further impact of COVID-19 (which did not influence the December results), this will cause significant financial viability issues for a number of residential aged care homes.

 

  • 56% of residential aged care homes recorded an operating loss for the December 2019 six months (compared to 42% for the December 2018 six months).
  • The number of residential aged care homes making an operating loss increased in each regional sector.
  • 71% of residential aged care homes in outer regional, remote and very remote regions recorded an operating loss for the December 2019 six months (compared to 62% for the December 2018 six months).

 

Home care results held up a little better, however this is primarily due to reduced staffing hours and associated costs, as revenues have declined (at a per client per day measure).  StewartBrown anticipates a reduction in home care results for the period to June 2020.

 

  • Revenue per client per day decreased by $4.66 from $76.52 for the December 2018 six months to $71.86 for the December 2019 six months.
  • Average staff hours per client per week reduced by 0.90 hours from 6.69 hours in December 2018 to 5.79 hours in December 2019.
  • Average unspent funds per client increased from $6,827 per client in December 2018 to $7,904 per client in December 2019.  The sector aggregate unspent funds was more than $800 million at December 2019.

 

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