Originally Posted by
FTG
FWIW, a little snippet from Aussie Media. Albeit there are some key structural differences in the Retirement Village/Aged Care sector between Aussie & NZ, similar challenges are likely reflected in NZ, especially amongst the smaller, independent operators.
Australia’s nursing homes are in deep financial trouble, with 66 per cent of private providers operating at a loss and their facilities hemorrhaging an average $28 per resident each day, new *official data reveals.
The most comprehensive audit of aged care undertaken also finds nursing homes are spending an average $12.40 a day on food and ingredients for each resident, and the average hands-on care time provided in facilities sits at a little over three hours a day.
Furthermore, Aussie is currently implementing a 15% wage increase in the sector, but with the Labor Government & Unions pushing for 25%! This will only add further pressure to NZ operators, in an already highly competitive labour market?