The Thursday WRAP – Aged care year in review with Lauren Broomham
In the last Thursday WRAP for 2020, Lauren Broomham provides DCM Group’s annual aged care year in review.
As Lauren explains, it’s been a year where COVID placed the sector front of mind, for both politicians and the general community.
Despite thousands of cases being linked to the sector, Australia’s providers performed extremely well, especially compared to homes overseas which have been overrun by the virus.
With public pressure on the outbreaks in residential care, the Government could no longer hide from its obligations to aged care providers and the people they serve.
But as Lauren says in the Thursday WRAP, this big story has been the Royal Commission.
The financial viability and future of Australia’s aged care system is at stake, with widespread consolidation on the cards, workforce expectations rising and a new digital operating landscape.
The key thing is leadership – DCM Group estimates even without consolidation 65% of middle and senior executives will retire or leave the sector in the next three years.
Who will be the leaders of this $30 billion a year sector?
With the Government set to respond to the Royal Commission recommendations in next year’s May Budget, aged care will grow significantly. 2021 will be bigger than even 2020 with the Commissioners’ Final Report due to be handed to the Governor-General by 26 February.
We will be there covering it all.
You can read the full, detailed year in review on The Weekly SOURCE site here.