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Half of Australia’s aged care homes now in the red

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The amount of aged care homes operating at a loss has tipped over 50 per cent for the first time, StewartBrown’s latest report on the financial performance of the sector finds.

The latest data from accounting and benchmarking firm StewartBrown released last week shows that 51 per cent of the 984 residential aged care homes surveyed recorded an operating loss (negative earnings before tax) for the quarter ending September 2019.

This is up from 41 per cent of homes for the same period in 2018 and 34 per cent of homes in September 2017, StewartBrown’s September 2019 Aged Care Financial Performance Survey shows.

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Source:
Sandy Cheu, 2020, australian ageing agenda (https://www.australianageingagenda.com.au)

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