More aged care beds needed, says chief executive
The chief executive of a Woy Woy aged care home hopes the Federal election will focus attention on the future of aged care.
Changes were needed to meet the growing demand for aged care beds, said Blue Wave Living chief executive Mr Matt Downie.
From 2026 onwards, the Baby Boomer generation group would turn 80 years of age, he said.
"This is a period of our lives when we are most likely to require aged care services, and this significant population group begins to move into that age demographic from next year onwards.
"Yet currently there is little growth in our industry to accommodate this known population increase in this age demographic.
"Of note is the complete lack of development of additional residential aged care beds, yet we must grow this significantly over the next decade to accommodate this population cohort who will be aging and requiring access to these services," said Mr Downie.
"The lack of development is a simple result of the shortfall in income/funding over a number of years now and low or negative returns across the industry.
"Residential aged care remains a marginal business, and without enough surplus to provide surety to invest in significant capital development, the industry will continue to fail to deliver the additional capacity required.
"Already we are seeing elders stuck in hospital for extended periods of time, due to lack of available residential care beds.
"This issue will continue to worsen over the next decade without further investment in our sector," Mr Downie said.
"Building additional beds requires a number of years to complete, from initial planning, approval, construction, certification, staffing and becoming operational.
"Typically, it is around a four to five year timeframe from beginning of the planning process through to full operational capacity.
"So there needs to be more certainty around the funding and income for the sector to begin this planning process to ensure the additional beds are there for our future known requirements.
"More needs to be done to support our industry moving forward, to ensure a long term sustainable future.
"The new Aged Care Act will assist.
"However, in my view, the funding remains a pinch point with insufficient returns to support and encourage growth in the sector," he said.
SOURCE:
Newsletter, 1 Apr 2025
Matt Downie, Blue Wave Living