06 December 2013
Finance for Reform - What are the financial impacts of sector reform?
The realities of reform and the increasing priority for efficiency in the aged care sector were key areas of discussion in the “Finance for Reform” Master Classes at the 2013 ACSA National Conference.
Led by Bentleys Health and Ageing Specialist Heath Shonhan, these sessions - which involved over 200 aged care providers - explored the implications of industry change on multiple levels, including regulatory, institutional, financial and social.
As well as collating the collective wisdom and perspective of the group to develop a 3x3 SWOT Analysis, the session gave a deeper understanding of the financial impact of aged care reform and highlighted the imperative for aged care providers to refine and financially qualify their strategy.
While the changes are many and the landscape is evolving, one thing that remains clear is that understanding the financial health of your aged care service – and putting a methodology in place to underpin your long term strategic plans - is essential.