Manage your aged care finances and maintain healthy cash flow by investing in Aged Care Bonds in Adelaide. AACFA has the expert team of financial specialists helping you by providing assistance about aged care plans such as aged care bonds Adelaide, Accommodation bonds Adelaide and many more.\n
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A two-tiered system in residential aged care appears to be emerging in
Adelaide and South Australia, according to a new study.
Today, for-profit providers are seen dominating the major cities, while non-
profit providers are positioned in regional and remote locations. According to
the Department of Health and Ageing, for profit-providers have grown more
than twice the growth of the non-profit providers over the last 10 years.
The numbers of aged care beds in commercial sector have increased by 46
per cent too, while the non-profit sector only experienced a slight increase
of 19 per cent. What we see here is that Adelaide Faces Financial
Implications Of Two-tiered Aged Care System.
Manage your aged care finances and maintain healthy cash flow by investing
in Aged Care Bonds in Adelaide. AACFA has the expert team of financial
specialists helping you by providing assistance about aged care plans such as
aged care bonds Adelaide, Accommodation bonds Adelaide and many more.
Although an increasing number of aged care providers is great to have in
order to accommodate the growing ageing population, the question is will a
two-tiered system deliver the same quality of service? These are the two
major points that concerning for future nursing home resident: 1) for-profit
providers generally offer lower quality of aged care, and 2) lower quality
means more expensive aged care cost. Why is it more expensive? Because
you are getting less of what you actually paid for.
Lead researcher Richard Baldwin of University of Technology confirmed and
provided a study that for-profit providers offer lower quality of aged care.
Also, the commercial sector was proven to have lower nurse to patient
ratios. This means they have higher risk of not meeting the minimum quality
standards in aged care. And if residents don’t get the level of quality they
desire, the tendency is to ask for extra ‘luxury’ services, which will result to
hire additional service fee and a more expensive aged care cost.
long-term vision for residential aged care. Although we cannot confirm if the
two-tier system is the direction we are going to in aged care, the numbers
do not lie. For-profit providers are dominating the market and we need to
prepare ourselves for the implications.
If you are following Adelaide Aged Care Financial Advisers’ blog, you will
know that we are serious about making people’s journey to aged care easy