Provider calls for more aged care funding
The chief executive of a Woy Woy aged care provider has called for more funding for aged care, despite a "recent significant boost to funding".
Blue Wave Living chief executive Mr Matt Downie said the funding boost would support the publicly-announced 15 per cent wage increase for selected care staff and was welcomed.
"On review, there seems to be little left over to cover additional cost increases, including an additional 5.75 per cent wage increase for all staff, and other significant cost increases which the sector is facing.
"Certainly a lot more needs to be done on the funding front to ensure we have a sustainable high quality aged care system to support services nationally."
Mr Downie said a recent industry financial performance report had been released, which showed that residential aged care continued to be significantly financially challenged.
"Two thirds of our industry is now operating at a loss, which is simply unsustainable," he said.
"Nationally, for the first nine months of the financial year, the sector has sustained a loss amounting to $850 million."
He said this was "reflective of a funding system which has not kept pace over the years with increases in costs in delivering residential aged care in Australia".
SOURCE:
Newsletter, 30 Jun 2023
Matt Downie, Blue Wave Living