Financial Viability In Residential Aged Care
Published by David Dupuy - C.E.O. GSO Care Pty Ltd in Aged Care Software · Saturday 19 Dec 2020
Tags: GSO, Care, Aged, Care, Software, And, Financial, Viability
Tags: GSO, Care, Aged, Care, Software, And, Financial, Viability
Financial Viability In Residential Aged Care
“The Royal Commissioners described the aged care system as in ‘crisis’ in late 2019 and independent reports have shown average viability of residential homes has worsened in 2020, especially with the pandemic.“Counsel Assisting said aged care providers are being squeezed and must choose between financial viability and providing the level of care that’s the minimum standard required to support their residents - an impossible situation.”
A delicate situation perhaps, but not impossible. Remember the saying, “Teach a person to fish....”. Translate to - empower aged care providers to become more efficient, effective and therefore more productive, by providing appropriate care management tools that automate time consuming and low return tasks.
Most providers advertise their level of care is “well above” the minimum standard required, leaving financial viability to be the major issue.
GSO Care Pty Ltd have created GSO Care Aged Care Software for residential aged care providers. Using GSO Care appropriately, we believe a provider may realise a conservative gross annual profit increase in excess of 10%, based on current practices.
Many will question our assumption, however much research and extensive local knowledge would respectfully suggest one worthy of serious consideration.
There is a pathway forward - it’s not so squeezy and not so impossible.
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