Aged Care Insite Australia's number one aged care news source
Two-thirds of Australia's aged care providers are operating at a loss, according to recent data, with inflation rates driving up costs of delivering quality care.
A recent StewartBrown report warned residential homes are falling short of roughly $14.67 per bed per day, a significant increase compared to $8.43 in 2021.
Senior partner Grant Corderoy said the nation's rising inflation rate, which currently sits at 7.3 per cent, is contributing to providers losing millions.
"We've seen all the major metrics deteriorate over the year," he said.
"All providers have also been impacted by declining occupancy levels, the impact of bushfires followed by flooding, the ongoing effects of the pandemic and chronic staffing shortages."
Aged Care Insite spoke with Corderoy about the declining sustainability of the aged care sector.
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