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Unspent funds set to hit $600M

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The average amount of unspent funds per home care package client has hit almost $7,000 and total unspent funds are likely to reach $600 million by the end of the financial year, a key financial analysis says.

The situation is undermining sustainability and discouraging co-contribution models, the StewartBrown December Aged Care Financial Performance Survey says.

The survey, containing information from more than 27,000 home care packages across the nation, shows the amount of unspent funds held by providers increased by more than $1,400 to average $6,827 per client in the last six months.

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Source:
Judy Skatssoon, 2019, Australian Ageing Agenda (https://www.australianageingagenda.com.au/about/)

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