UTS tudy into financial performance of aged care sector

The University of Technology Sydney (UTS) has released its first edition of what is to become a biannual independent assessment of the performance of the aged care sector, with a focus on financial performance, health economics and labour market perspectives. The UTS reports will include an analysis of de-identified survey data collected by the accounting firm, StewartBrown, which undertakes quarterly financial performance benchmarking of residential and home care services. The first edition is an analysis of the mid-year results for the sector for 2021-22. The report confirms that many aged care service providers face “increasing and acute threats to their financial viability”. Continuing a medium-term trend, the financial performance of services in the first half of 2021-22 has worsened compared with the same period last year, despite the payment of the $10 Basic Daily Fee Supplement since 1 July 2021. The UTS report may be accessed here.