{"id":44390,"date":"2023-10-20T15:35:37","date_gmt":"2023-10-20T15:35:37","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/aged-care-report-highlights-start-up-opportunities-startupsmart\/"},"modified":"2023-10-20T15:35:37","modified_gmt":"2023-10-20T15:35:37","slug":"aged-care-report-highlights-start-up-opportunities-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/aged-care-report-highlights-start-up-opportunities-startupsmart\/","title":{"rendered":"Aged care report highlights start-up opportunities – StartupSmart"},"content":{"rendered":"

An aged care industry expert has outlined enterprise opportunities in the sector, such as mobile offerings and improved infrastructure, in the wake of a new report by the Productivity Commission. <\/span><\/p>\n

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The report, titled Caring for Older Australians<\/i>, focuses on the country\u2019s ageing population and how both industry and government must respond to the increasing needs of the elderly.<\/p>\n

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The report recommends the establishment of an independent commission, and allowing providers to charge bonds for high-care beds in nursing homes.<\/p>\n

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Cam Ansell, aged director at accounting firm Grant Thornton Australia, was heavily involved in the report and fully supports the commission\u2019s recommendations.<\/p>\n

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\u201cIf Australia is to cope with the unprecedented number of older Australians requiring care, then adopting these changes is essential,\u201d Ansell says.<\/p>\n

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According to Ansell, a lot of the changes relate not only to the services available within the sector but the infrastructure, suggesting there are opportunities for start-ups to develop solutions.<\/p>\n

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\u201cIt is only financially possible to build institutional, multi-bed wards and not the modern, single bedroom nursing homes consumers want and expect,\u201d he says.<\/p>\n

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\u201cThis is largely because regulations restrict a resident\u2019s ability to contribute towards their care.\u201d<\/p>\n

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\u201cBy allowing consumers to contribute toward the same accommodation and living costs they paid for at home, there will be significantly more choice and higher service quality overall.\u201d<\/p>\n

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Ansell says it is important that government and industry do not \u201cplay politics\u201d with elderly care and their quality of life.<\/p>\n

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\u201cWe have a small window of opportunity to get this right,\u201d he says.<\/p>\n

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Ansell says the operators that will struggle in the future are those that fail to invest in new infrastructure, and those with thin balance sheets.<\/p>\n

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\u201cThere are only about 1,200 operators out there [in Australia]. Once you remove a lot of the large operators, most have one or two facilities,\u201d he says.<\/p>\n

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\u201cAround half of the infrastructure in Australia is around 20-years-old, so there are opportunities to work with these operators. Some of these operators… will be looking for people to partner with.\u201d<\/p>\n

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Ansell says entrepreneurs with a background in hospitality also have an opportunity to add value to existing care models, particularly those that are mobile, enabling people to remain in their own homes but receive the appropriate level of support.<\/p>\n

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\u201cThe ethos is moving from a benevolent service to a service where your clients have higher expectations \u2013 it\u2019s a different paradigm,\u201d he says.<\/p>\n

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\u201cOne of the recommendations of the Productivity Commission is a single, uniform model for delivering aged services, which means having the capacity to do so.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

An aged care industry expert has outlined enterprise opportunities in the sector, such as mobile offerings and improved infrastructure, in<\/p>\n","protected":false},"author":1,"featured_media":59274,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/44390"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=44390"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/44390\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/59274"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=44390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=44390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=44390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}