The hearings into the financing of aged care also heard that residential aged care was a "unique" industry sector because half of the providers were either making a loss or barely scraping by.
Counsel assisting the commission Paul Bolster said it was "starting to see a trend of occupancy going down, people being reluctant to go into residential aged care for fairly obvious reasons."The hearings into the future financing of the sector on Monday heard from a panel representing the big four banks - with more than $10 billion in loans outstanding to the aged care sector.
In a submission to the aged care royal commission, a consultant to the federal Health Department, Cam Ansell, wrote that many Victorian nursing home operators would be hit hard. ANZ's head of health Sam Morris agreed that COVID-19 was certainly putting pressure on operators, particularly with metro Melbourne operations."We're watching that really carefully, particularly seeing lower levels of occupancy in that area and, of course, with that comes liquidity risk."
juliepower They are no places to live or die.Its embarrassing to shuffle off our parents and loved ones to virtual profit driven death camps there must be better models..
juliepower Residential Aged Care ! Please . . . They are not legislatively required to have nurse to resident ratios. Poorly paid Cert III care staff. Not a “nursing home”.
juliepower 'Nursing home' ? Catch up, it's 'residential aged care' and unlikely to find more than one registered nurse per shift, work is done by AINs or low paid aged care workers. If residents can move out, do so for all the reasons.
juliepower Should not be profit before people. Private is a disgrace
juliepower They are more likely to die of brutal neglect like they have all around the west, why don't you do some research on the crimes committed in Canada, the USA, UK, France, Italy, Spain - the info on tens of thousands of deaths is easy enough to find
juliepower profit before people?