Aged Care

Shifting Sands – Listed aged care providers full year financial analysis FY18
October 2018

The listed aged care players continue on their journey to delivering shareholder value, but with plenty of headwinds still facing them. We all know the Australian population is growing older, but they are also wiser and more self/financially aware than their predecessors. This aspect alone is causing indigestion within the marketplace as providers start to realise that residential aged care – and indeed healthcare more broadly – is conceptually entering the world retail; where the customers perceived value for a product and/or service is prime.

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Listed Player Analysis
Aged Care Financial Review Colliers
March 2018

Colliers undertook an analysis of the listed aged care providers half-year financial analysis. Scale, competition and margin squeeze are the three common themes across the listed aged care players reflecting largely what’s occurring across the broader sector. Whilst demand for services via a rapidly ageing population will continue to underpin the fundamentals there are headwinds that need to be carefully managed as the sector undergoes systemic change. Opportunity exists for those who embrace the concept of change which is being driven from both the Government and consumer alike.
The analysis herein will compare and contrast the salient profit and loss drivers together with an overview of the RAD/DAP regime and key trends, influencing and impacting listed aged care providers’ operations for the next 6-12 months.

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Customer Service Experience in Aged Care
Nicki Doyle and Liz Forsyth
July 2017

KPMG’s Nicki Doyle and Liz Forsyth discuss how shifting consumer expectations and government reforms are forcing aged care providers to rethink the customer experience.

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Same, Same but (Slightly) Different
March 2017

The last 12 months have seen a particularly tumultuous time in the aged care sector spurred by proposed changes in funding, deregulation of the home and community regime and increasing convergence between residential aged care, retirement living and allied health. The basic premise – the consumer will be increasingly more responsible for their cost of care, but will also have more options to dictate where, when and how they receive care.

In that context, the market was eagerly awaiting the 1HFY17 financial results from the listed players in order to establish a baseline from which to gauge the impact of the various changes that are influencing operational outcomes. Needless to say, the market reacted in a mixed way.

The following analysis will compare and contrast the key profit and loss drivers together with an overview of the RAD/DAP state of play, balance sheet strength, outlook and summary conclusion. The focus is not on a half on half comparison, but rather an overarching explanation of what is occurring as we speak, and how that may change in the immediate future.

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2016 National Aged Care Workforce Census and Survey – The Aged Care Workforce, 2016
Australian Government
03 April 2017

This is a report on the findings of the 2016 National Aged Care Workforce Census and Survey (NACWCS) conducted by the National Institute of Labour Studies, on behalf of the Department of Health. It is the fourth report in the series (previous reports were in 2003, 2007, and 2012). The 2016 report contains information about the size and composition of the workforce, training and education, the characteristics of aged care workers and the organisations in which they work, experiences of working in the sector, and factors related to staff recruitment and retention.

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Report on Government Services 2017 – Aged Care Services
Productivity Commission
February 2017

This chapter focuses on government funded care and support services for older people and their carers, which are provided at home, in the community and in residential care facilities.

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Australia’s Aged Care Sector – Economic Contribution and Future Directions
Deloitte Access Economics
June 2016

Deloitte Access Economics has examined the economic contribution of the aged care sector in Australia for The Aged Care Guild.

The aged care industry provides older Australians with a range of different services, allowing them to access appropriate levels of care when and where they require it as they age. In delivering aged care services to the Australian community, the sector is both a vital supporter of the comfort and dignity of older Australians as well as an important contributor to the Australian economy.

The Aged Care Guild has commissioned Deloitte Access Economics to examine both quantitatively and qualitatively the economic contribution of the aged care sector in Australia, as well as to consider broader industry trends, policy issues, existing challenges and future implications. The purpose of this report is to highlight the significant contribution of the sector and outline future directions for the aged care industry in Australia.

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RSM Aged Care Sustainability Review 2016
April 2016

The Review provides a level of insight that can inform market participants (providers, policy makers and service providers) of the longitudinal trends emerging in the provision of residential aged care and the impact of the regulatory reforms. The Review analyses data from a number of sources and presents; insights into short and medium term trends emerging in the residential aged care sector. The Review seeks to provide participants in the sector a holistic view of the changes in the primary drivers of sustainability of residential aged care. It provides executives, boards and other market participants with critical analysis and insight into the impact and implications of the changes occurring within the sector.

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Aged Care Road Map
Aged Care Sector Committee – Department Of Social Services
April 2016

In April 2015, the Australian Government tasked the Aged Care Sector Committee with developing a roadmap that sets out future reform directions for aged care.

The Aged Care Roadmap which represents the Committee’s views on what is needed to achieve a sustainable, consumer driven and market based system. While the Roadmap is a product of the Committee, they urge that it be used by current and future governments, industry and consumers to shape reforms in coming years.

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Report On Government Services – Aged Care Services
Australian Government
January 2016

Each year, the Australian Government releases the Report on Government Services (RoGS) which provides information on the equity, effectiveness and efficiency of government services in Australia. The aged care system comprises all services specifically designed to meet the care and support needs of older people living in Australia. This chapter focuses on government funded care and support services for older people and their carers, which are provided at home and in residential care facilities.

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Report On The Impact Of The 1 July 2014 Financial Reforms On The Aged Care Sector – Quarter Ending 30 June 2015
Aged Care Financing Authority
December 2015

On 21 December 2015, the Aged Care Financing Authority (ACFA) submitted its second quarterly report on the impact of the 1 July 2014 financial reforms on the aged care sector.

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Aged Care Insights
NAB Health
October 2015

Health represents one of the largest and fastest growing sectors of the Australian economy. This insight paper has been prepared by NAB Health to address current issues and trends emerging in the Australian Aged Care Services sector. In this paper they touched on some of the current market factors as well as government initiatives aimed at assisting aged care operators.

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Third Report On The Funding And Financing Of The Aged Care Sector.
Aged Care Financing Authority (ACFA)
July 2015

This report includes analysis of financial data collected from the 2013-14 year. It also examines the structure and operation of the Australian Aged Care Sector and its key characteristics, issues and trends emerging since 1 July 2014, when significant funding and financing reforms were implemented. This report is timely given the significant impact the reforms are having on the sector, from consumer, provider and investor perspectives.

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Factors Influencing The Financial Performance Of Residential Aged Care Providers
June 2015

In June 2014, ACFA engaged RSM (known as ‘RSM Bird Cameron’ at the time), in association with PricewaterhouseCoopers (PwC), to study the qualitative and quantitative factors influencing and associated with the variable financial performance of different residential aged care providers. This this report focuses specifically on factors influencing providers’ financial performance

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Factors Influencing The Financial Performance Of Residential Aged Care Providers Aged Care Financing Authority
May 2015

The Aged Care Financing Authority has undertaken a detailed study into, and providing advice on, the factors that influence the financial performance of aged care providers, including a focus on what is driving the performance of the better performing providers relative to those who are not performing as well and what can be done to improve performance.

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Retirement Living Goes Full Service
Darragh O’Keeffe – Australian Ageing Agenda
April 2015

The traditional lines of demarcation between retirement living and aged care are eroding as operators seek to provide a range of health and aged services within their villages so they can meet resident preferences. AAA looks at the various models in action.

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Report On The Impact Of The 1 July 2014 Financial Reforms On The Aged Care Sector Aged Care Financing Authority
January 2015

This is the Aged Care Financing Authority’s (ACFA’s) January report on the impacts of the 1 July 2014 financing reforms. This report provides an analysis of the data concerning accommodation payments (covering the month ending 31 December 2014), collected through ACFA’s survey of aged care providers. It also includes an analysis on occupancy and admissions data collected by the Department of Social Services (DSS). To complement the data collection, ACFA has also continued to engage with sector representatives, providers and DSS to obtain information and feedback on the impact of the reforms.

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Residential Aged Care Industry – Consolidation And Convergence
Korda Mentha
December 2014

Korda Mentha provide an overview of the aged care sector, the demand for aged care, government reform of the sector, performance and viability of the sector and conclude that consolidation, convergence and growth in specialised services are likely to be key trends in the future.

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Going Global International Healthcare And Senior Living Markets Presentation To LASA National Congress
21 October, 2014

Many countries across the globe are unprepared for ageing populations. These countries are now seeking to address their ageing population challenges and many look to Australia’s aged care system as a benchmark of quality healthcare. Australia’s reputation is based on a long history of aged care experience; world leading government legislative policy and funding, a well regulated accreditation framework, sound private sector funds management expertise, high education standards providing both preventative and clinical care to aged care qualifications, substantial investment in research and experienced firms. Australian capabilities in the seniors health and living industry span services, products, leading edge technologies, infrastructure, research and development, education and training in areas such as clinical neuroscience, cardiovascular conditions, oncology and assisted living.

Austrade’s Seniors Living and Health industry overview provides Australian exporters with information such as trends and opportunities, tariffs and regulations, basic marketing advice and also includes useful links and industry contacts.

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Seniors Housing And Retirement Living – The Next Wave
Aged & Community Services NSW & ACT Conference
October 2014

Retirement living is considered by many to be the next wave of growth in the midst of radical changes sweeping the aged care sector. This conference addressed topics such as the government’s position on the provision of affordable appropriate housing for seniors in NSW. Topics covered include research being undertaken on dementia in retirement villages, the effect of the federal budget on retirement villages, future prospects for affordable housing for seniors in Australia, interface with housing, interface with aged care, health and wellbeing, the latest consumer research and an innovative model of design and service.

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Retirement Village Design And Service Models: Positioning For Care

Deborah McKern, Clinical Care Coordinator, Autumn Lodge
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Interface Between Retirement Villages & Aged Care

James Underwood, Director, James Underwood & Associates
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Future Of Retirement Village Industry

Seniors Housing, 2013 Retirement Village Survey Results, Predictions
Mark McCrindle
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Investment Money Coming this Way

Richard Grayson, Senior Relationship Manager, ANZ Bank
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Dementia In Retirement Villages
Kylie Miskovski, Senior Research and Policy Officer, Alzheimer’s Australia NSW
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Housing Affordability

Lucy Burgmann, NSW Federation of Housing Associations
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Supporting People To Live Safely And Independently At Home: An Australian Pilot Program Feros Care November 2010

Feros Care investigated Telehealthcare, and commenced a Pilot Program to determine the viability of deploying security, safety and health monitoring technologies in Client homes. The purpose of the Pilot Program was to determine whether Telehealthcare Technologies could assist Clients to remain living at home longer by:

  • Supporting and providing more continuous quality and targeted care of Clients in their homes; • Improving safety, independence and generally lowering the anxiety of Clients, Carers and families anxieties; and • Adding Telehealthcare services as operational and financially viable options for Feros Care Clients using Community Care Programs and services.

This report describes some of the experiences and key learnings from conducting the Pilot Program of Telehealthcare implementation by a small-medium Aged Care service provider, and has been prepared with the aim of sharing the experience with anyone with an interest in the Health and Aged Sectors.

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Investing in Aged Care – Second Wave
Ansell Strategic

In an otherwise subdued investment market, the residential aged care sector has been stimulated through escalating demand and improving margins. The Government projects that a 40% increase in aged care homes will be required over the next ten years at a cost of around $25 billion. Acquisitions, both large and small are on the increase and business values are rising. If the new Government gets an early handle on fixing the accommodation payment policy, this could be the beginning of the biggest period of aged care infrastructure investment in this country’s history. In this paper, Ansell Strategic presents insights from those involved in the major residential aged care transactions – owners and investors, as well as drawing on their own experience in facilitating these transactions across Australia.

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The financial Viability And Sustainability Of The Aged Care Sector
Prepared By: Richard Baldwin, Marguerita Stephens, Daniel Sharp And John Kelly For ACSA

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