As a Residential Age Care Provider are you ready for the “greater demographic shift” and the impending growth of the aged care population?
Government projections anticipate an increase in the population of Australia over the next decade, together with an increase in the percentage of the population living over the age of 65. According to an Ansell Strategies Report (‘’ Investment and Finance in the Aged Care –The Second Wave’’) this could translate into a 40% increase being needed in the number of aged care homes in the next decade.
In the last ACAR Round there were 11,196 new residential places allocated for funding. According to LASA*, it is anticipated that this increase will need to continue each year for at least the next ten years to meet the increasing demand on the sector.
New technologies for aged care services will be a key factor in the sustainable growth of Residential Aged Care. LASA and Ansell Strategies both note the importance of innovations in technology in the sector as being critical to meeting the increasing demands and expectations ,
“The pace of innovation and investment will need to grow exponentially”, states Ansell Strategies.
With the sector facing the challenges of changing legislation, new model reforms, managing changes in funds receivable and billing complexities, an increased demand from an ageing Australia and more competition and consumer choice, as the sector grows and evolves through acquisitions and investment in new facilities, this is a time to embrace new technologies and improve back office management with innovative aged care software.
Procura Residential Management is an expert and mature aged care services solution offering comprehensive residential aged care management from initial enquiry and application right through to admission and beyond. It uses a Single Health Record approach; manages complex financial information including billing, bonds, subsidy management, e-business integration with Medicare and enables analysis and essential reporting that leads to increased efficiency. The software can cover a wide range of functionalities, improving compliance, optimising funding entitlements, increasing profitability and reducing risks. By reducing the time spent on administrative tasks with these advances, staff can devote more time to the care of residents, providing improved quality of care, and establishing a sustainable aged care environment with accelerated growth.
References: LASA www.lasa.asn.au *LASA Press Release 4/12/2014
Ansell Strategies: *pdf ‘’ Investment and Finance in the Aged Care –The Second Wave’’ www.ansellstrategic.com.au
Procura offers end-to-end business solutions for Aged, Community and Disability Care providers.
Speak to a Procura Consultant today about how our solutions can be applied to improve efficiency and accelerate growth within your business. Call us at +61 2 8035 8300.