CEPAR Research Program Lead Professor Michael Sherris chaired the Aged Care Financial Sustainability Forum in Melbourne on 3 September.
The Forum covered a range of financial sustainability issues that the aged care sector faces, from increasing wages, compliance demands, and margins. The new Aged Care Act prudential rules, the potential phase-out of RADs and changes to the Support-at-Home pricing and co-payments were considered as challenges to funding future capital requirements, liquidity, and growth.
Also covered were the need for providers to respond with the adoption of AI, workforce innovation, and other strategic financing decisions while balancing care obligations with financial sustainability.
Michael Sherris (left) chaired the panel session on the future of aged care finance