Report shows half of Australian aged care homes are losing money: what can be done? – podcast

Aged care homes continue to run at a financial loss despite raised home care packages and federal funding.

According to the latest UTS Australia's Aged Care Report, providers are facing financial threats due to significant challenges.

"Across the sector, the financial performance of aged care service providers has worsened compared to last year, raising serious concerns about the financial viability of services that senior Australians depend on," says lead author Dr Nicole Sutton.

Over half of aged care homes were operating at a loss with an average deficit of $11,34 per resident per day, which is more than double the deficit compared to last year.

The report also highlighted the homes' major struggles to attract and retain aged care workers.

Dr Nicole Sutton joined Aged Care Insite to discuss the complex issues aged care providers face and what needs to change.

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