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Financial Sustainability Forum

Webinar Overview:

The long-term sustainability of the aged care sector is at stake. 

Minister for Aged Care Anika Wells says government will need to manage sector’s short-term pressures and long-term financial viability. She says aged care in Australia needs “urgent reform as quickly as possible” alongside an overhaul of the funding model to ensure the sector remains financially viable.

The sector is in crisis. 

The royal commission into aged care found that government spending on aged care will increase by four per cent a year over the next decade. In addition, the Minister said that the government had agreed to fund the outcome of the FWC ruling, which is estimated to cost about $4 billion annually if the 25 per cent claim is successful. 

The UTS Financial Sustainability Discussion Paper states that ‘a sustainable aged care sector can only be achieved through a multi-layered strategic response from the Government, sector stakeholders and consumers.’  It identifies four broad strategic approaches: 

  • Reducing the rate of growth of demand for subsidised aged care services 
  • Improving the effectiveness of aged care services. 
  • Improving the efficiency of service delivery. 
  • Establishing more equitable funding for subsidised services

ACCPA has brought together a panel of key stakeholders to discuss the way forward and drive practical solutions to provide a high performing, trusted and sustainable aged care sector.

Join us for this crucial discussion as we hear from Consumer Representatives and Sector Experts. 

  • Dr Nicole Sutton, Senior Lecturer, Accounting Discipline, UTS 
  • Prof Mike Woods, Centre for Health Economics Research and Evaluation, UTS  
  • Ian Yates, Chief Executive, COTA 
  • Paul Sadler, Interim CEO, ACCPA – MC

Date:  19 July 2022
Time: 4:15pm-5:45pm AEST
Cost: Free to attend