Originally published September 13, 2024.
Yesterday, the government introduced the Aged Care Bill 2024 to parliament. The Bill is for a new Aged Care Act – aiming to overhaul the nation’s aged care system with bipartisan support.
Key reforms include a new funding model and a $4.3 billion Support at Home program starting in July 2025, increasing home care funding to $78,000 annually.
The bill also allows aged care providers to retain 2% of Refundable Accommodation Deposits (RAD) and raises the maximum room price to $750,000, adjusted for inflation. Means-tested contributions will increase semi-annually, and a “No Worse Off” principle protects current participants. The reforms are designed to enhance the sector’s sustainability, accessibility, and care quality for older Australians.
November 14 @1 – 2 pm: Join the conversation to help prepare your business
Inside Ageing in association with Pride Aged Living will host its final webinar workshop for the year, focussing on preparing aged care providers for these major reforms.
Some of what will be covered
Adapting to new rules entails reevaluating corporate and business strategies, focusing on stakeholder value creation and aligning business lines for optimal value addition.
This session will present insights from strategic planning workshops with home care, residential care, and retirement living providers.
It will delve into the opportunities presented by operating and property company models (opco/propco), offering perspectives from both operators and owners.
Participants will gain valuable insights into navigating changing landscapes effectively, identifying growth opportunities, and optimising strategies for success in the evolving healthcare and retirement living sectors.
- How to assess financial performance
- Understanding your capacity and limitations to grow
- Practical issues and challenges in growing through M&A
- Why growth matters
- How to exit activities successfully
- Understanding “Policy Windows” from a political context and what this means for strategy
Presenters
Pricing is per organisation for unlimited attendees.
Pricing: $180 plus GST
BOOK November 14 @1 – 2 pm: New strategy under the new Aged Care Act
Once payment is made a registration link will be sent for sharing with your team.
The session will be conducted live with time for questions at the end. A video recording will be provided for ongoing reference.
If you would prefer an invoice or have other questions: editor@insideageing.com.au
