Aged Care reform: insights from across the sector

Report

02 Sep 20223 min read

October’s Federal Budget announcement is expected to be heavily focused on policy and reform. Fresh eyes on the aged care sector are welcomed by providers and there is a high degree of willingness and commitment to ensure that these future reforms are effective and lead to better outcomes for aged care consumers.

Contents

Already under steadily increasing pressure from the aging population, the sector is feeling the impacts of system reforms, relentless cost pressures, the pandemic and other changes. Consumers have higher expectations and a greater choice of providers, services and pricing models, forcing organisations to compete in new ways.

Grant Thornton, in conjunction with the Commonwealth Bank of Australia, has hosted a series of discussions with aged care provides across Brisbane, Perth, Melbourne, Adelaide and Sydney. These discussions address key issues and challenges being faced and offers solutions with a view to improving the overall performance of the aged care system and the quality of services to older Australians.

Building resilience is critical in supporting the major reforms that are being considered to improve services across the sector. In this report we explore several opportunities including:

Improved services and a refresh of residential stocks, particularly in regional, rural, and remote parts of Australia
A clear and focused strategy to address workforce challenges, combined with a structured process to ensure services remain relevant and resilient in the face of shortages
Regulatory alignment between the foundations of this industry, interconnected with clinical and commercial knowledge
Residential care homes as an extension of housing policy
Health and aged care system reform
Quality vs quantity: the implementation of a minimum number of care minutes