In this webinar series designed for residential aged care and home care operators, Inside Ageing in association with Pride Living will be running individual 1-hour sessions designed to help operators improve their long-term financial sustainability.
The two pillars of financial sustainability we will be focussing on are optimising financial outcomes without sacrificing resident well-being (business model) and ensuring the business model supports long-term investment in assets (return on equity). Organisations must assess if their model and returns are viable. Neglecting reinvestment erodes capital, leading to closure or mergers. External Government funding, while necessary, isn’t the sole solution; internal factors matter. Pride Living Group’s regular newsletter unpacks this further in response to the recent Stewart Brown Aged Care Financial Performance Survey (ACFPS) and the Quarterly Financial Snapshot of the Aged Care Sector (QFS) that highlights ongoing deficits within the sector. You can read it here.
The live sessions will cover the below topics and allow for questions that can be asked in the live session or in advance at the time of registration.
Key learnings and takeaways:
Optimising Business Models: Discover how successful providers strike the balance between financial outcomes and resident well-being. Understand the critical factors that constitute a sustainable business model.
Mastering Return on Equity: Explore the relationship between your business model and long-term investments. Learn how to ensure that your financial foundations remain strong, allowing you to continually update your assets.
Moving Beyond External Funding: While funding is vital, discover why solely relying on external funding won’t guarantee financial sustainability. Uncover the internal factors that play a pivotal role in your operational success.
Occupancy Strategies: Learn why occupancy rates are a cornerstone of financial success. Explore effective strategies, including the Enquiry Management System (EMS), to elevate your occupancy levels.
Diversified Income Sources: Explore additional avenues for generating income beyond traditional subsidies. Dive into the potential of Additional Services, Investment Income, and Accommodation Charges to boost your financial performance.
Resourcing Best Practices: Understand how resource allocation impacts your bottom line. Gain insights into optimised resourcing models that ensure a favourable relationship between human resource costs and income.
Presenters:
Inside Ageing’s Sean McKeown will moderate.
Join both sessions or a single session depending on your area of interest.
Pricing: $165 plus GST per organisation. (multiple participants)
$295 – per organisation to attend both sessions (multiple participants)
Questions can be asked during the live events and a video recording will be provided for ongoing reference.
Residential Aged Care: 1 pm Sydney/Melbourne time – 26th September – BOOK
Home Care: 1 pm Sydney/Melbourne time – 1st November – BOOK
Upon payment, a registration link will be sent.
If you would prefer to be invoiced or have any questions please email: editor@insideageing.com.au
