Budget impact and future considerations for aged care
Aged care leaders have faced a multitude of challenges in recent times. The ongoing Royal Commission, the introduction of new quality and safety standards, the COVID impact, workforce shortages, future financial viability concerns, and the competing demands on leaders’ focus have led to fatigue and frustration. The Government has invested in the sector throughout the COVID period, with additional funding from the October Budget, and no doubt more to come in the May 2021 Budget – the last Federal Budget before Australia heads back to the polls. Will what’s on offer be enough to help with current challenges and what more would we like to see in May?
Watch as our aged care experts unpack existing measures and provide practical tips for your organisation to navigate the new, emerging environment. The panel includes Grant Thornton’s Head of Health and Aged Care, Darrell Price and Head of Financial Advisory, Said Jahani. They are joined by Commsec’s Chief Economist Craig James and Commbank’s Head of Healthcare Banking, Belinda Hegarty.
- The recent Federal Budget and what the future might look like for the broader economy and the health industry.
- How to get the best out of your relationship with your bank when it comes to finance and debt-funding considerations for your organisation.
- What the industry considerations and local opportunities are, around attracting much needed investment for the sector and providers.
- What do shifts in key operating metrics – RADs to DAPs, occupancy, increasing HCP – mean for you?
- What priorities, practices and safeguards your organisation needs to put in place now to mitigate potential risks in the future.
This event is partnered with:
Chief Economist, CommSec
Craig is married with three children in their early 20s and currently lives in Huntley’s Cove, just to the north of Sydney. Chief interest outside work is Masters athletics, basically sprints.
His current role is Chief Economist, CommSec, interpreting ‘big picture’ economic and financial trends for customers, clients and staff. CommSec is known for innovative, ‘user friendly’ reports including State of the States, the CommSec iPhone Index and CommSec Home Size report.
As well as providing presentations to staff and clients and commentaries on financial and economic trends, Craig appears regularly in the electronic and print media.
Craig has worked in banking, finance and journalism for around 40 years and holds both Bachelor and Master degrees in Commerce (Economics). Both degrees were undertaken at University of NSW. Craig is an Adjunct Professor at Curtin Business School in Perth.
National Head of Healthcare Business Banking, Commonwealth Bank
Belinda Hegarty has spent nearly 20 years working in the finance sector, joining the Commonwealth Bank in 2013 following an international career with Macquarie Bank in the United States, the United Kingdom and Australia. Prior to her appointment as National Head of Healthcare at the Commonwealth Bank, Belinda worked across a number of senior industry leadership roles, bringing to each her extensive experience in formulating and driving the Bank’ risk appetite and lending strategies.
Today, Belinda leads a national team of highly experienced and industry accredited healthcare banking professionals. Under Belinda’s leadership, the team have developed a strong reputation for delivering market-leading solutions for clients, including funding for growth, acquisition and succession events - often involving complex business transaction needs.
National Head of Health and Aged Care, Grant Thornton Australia
Darrell has 30 years’ experience in professional services, the commercial, not for profit and public sectors in Australia. He has a strong track record in developing trusted relationships, leading strategic development, change, transformation, business optimisation and commercialisation in both external and client-side roles.
Through effective engagement and focussed facilitation processes, Darrell has led change and transformation in the Queensland Government, commercialisation and streamlining of services in aged and community care, outsourcing hospital services to the community sector, all of which required cultural and systemic change.
Partner and Head of Financial Advisory, Grant Thornton Australia
Said Jahani specialises in turnaround and corporate restructuring and can assist clients in tackling not only operational and imminent liquidity issues they may be facing but more importantly, the underlying strategic issues around their business.
Said is a Fellow of Insol which plays a pivotal role in cross border corporate restructurings and has been involved in a number of cross border matters. Said has worked on some of the largest Australian restructures over the past decade.
Looking back to look forward
The healthcare system in Australia is not without its challenges. But is there cause for some optimism? COVID has pressed the pause button on the economy and made us focus on health. It provided opportunities to invest in innovations and services at levels and with a speed and agility we hadn’t seen before. We have an opportunity to take this short-term focus and make it a long term priority.