Residential Aged Care - Maximising Funding

GSO Care Pty Ltd

GSO Care Aged Care Software - Innovative, exceptional and seminal.
Melbourne, Australia
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Residential Aged Care - Maximising Funding

GSO Care Aged Care Software

Residential Aged Care - Maximising Funding


I read with interest recent post(s) where the writer suggests the government needs increase funding in aged care.  Whilst I agree this may be part of the solution, I would respectfully suggest a more “achievable” piece of the puzzle.

Consider that the average tenure of a resident in aged care is 3 years.  It is reasonable to assume that extra care will be required steadily over that period, and therefore additional funding should to be sought.

Using a simple straight line calculation, and assuming the average resident will progress from an entry of say $130 per day and leave at $180 per day, one can demonstrate that instigating more frequent appraisals will increase funding.

The following table explains further.  (The numbers displayed are approximates. Individual sites may differ.)



Of obvious concern to providers would be the cost of facilitating bi annual appraisals.  A typical 25 facility provider would employ effectively 7 to 9 ACFI analysts at a conservative annual wages bill of $600,000.  But, if that wages bill could be reduced to 1 analyst, the result would be an 87.5% wage reduction for a 7% increase in funding.

GSO Care Aged Care Software facilitates bi annual funding and automatic ACFI appraisals.  Please visit https://www.gsocare.com for more information.




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