2020 has been undoubtedly one of the toughest years for the aged care industry. A Royal Commission in to Aged Care, financial uncertainty and the real impact of the global pandemic that is COVID-19.
Understandably the Commonwealth has delayed the planned Aged Care Approvals Round (ACAR) originally scheduled for March 2020. The Federal Budget handed down in October 2020 provided for some additional home care packages however there was little respite for residential aged care. There are however some indications that “significant” industry investment will most likely occur following the recommendations from the Royal Commission.
In the meant time, providers must remain viable and continue to plan for the future. A hard task when industry financial reports demonstrate significant strain, providers exiting and some of the countries largest organisations putting new developments on hold.
What is known is that an ACAR will occur. What is not known is when. And we do know there is an appetite for growth as some astute providers seek to develop new homes, and redevelop older homes, that more accurately reflect consumer preference.
As Australia’s …