StewartBrown presents on Retirement Living Performance Report
Stuart Hutcheon (below), Managing Partner at Stewart Brown, has been a part of VILLAGE SUMMIT in 2024, presenting on the accounting firm’s independent survey and report for the advocacy of the retirement living sector.
StewartBrown’s existing client base already represents over 900 retirement villages and nine of the largest 16 operators.
Widely respected for their aged care benchmarking, this is a significant new initiative – and one that is gaining momentum.
In his address in Brisbane and then Melbourne, Stuart shared how the survey is gaining momentum with more than 100 operators from across the country formally expressing interest to participate.
Why data collection is more important than ever for the sector
The negative media attention from September and October of this year demonstrated that the sector can be better armed with an independent portrait of the business of retirement living becoming more important each year as the sector evolves.
Consider the recent the recent changes to the Aged Care Act, and the impact this will have on the retirement village sector which was passed in Parliament alongside 83,000 additional Home Care Packages.
Care, and the delivery of into retirement villages, is very much the ‘new norm’ for Village Professionals, as we’ve been discussed across the country at VILLAGE SUMMIT this year.
Yet, home care packages alone will not deliver equal care to aged care homes.
Stuart told our Melbourne audience their latest home care analysis (to be released on Thursday 28 November 2024) identified that a Level 4 home care package now delivers just 5 hours a week of actual in home support (down from 7.8 hours).
As care funding delivers less and less hours each year, there is the opportunity for the sector to do more to understand how this situation may differ for residents in a village setting.
Stuart confirmed that this specific piece of work is on their radar, with the current round of data collection set to make it possible to put evidence behind the value proposition of care in retirement living.
You can also email retirement.survey@stewartbrown.com.au with any queries.
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