Mirus Industry Analysis (MIA) – August 2023 edition
August 18, 2023 | Aged Care Finance
Revenue sees positive growth, occupancy slips back
Rob Covino presents Mirus Industry Analysis (MIA), a series of monthly insights into the key performance indicators and cumulative industry trends from the 90,000+ beds we monitor for financial sustainability.
Welcome to the August 2023 edition of Mirus Industry Analysis (MIA).
Revenue
During the month of July, the industry’s Average Daily Subsidy (ADS) experienced a significant increase of $28.08, reaching $252.62. This jump can be attributed to the welcome windfall of subsidies flowing into providers’ bank accounts.
The claiming activity across the sector also rose from 4% as reported this time last year to nearly 8%, which is a more expected volume.
Occupancy
Occupancy increased from 87.63% in June to 87.92% in July, resulting in a change of 0.29%. The occupancy levels were largely stabilised due to a late entry of admission backdating when compared to last month’s data. However, new permanent admissions declined by -16.3% to 6493, while respite usage remained largely similar to the previous month
Workforce management
Total direct care minutes increased by nearly 4% to 190.7 minutes delivered per resident per day to the sector in July. The RN minutes also saw an increase of nearly 2% to 32.8 minutes worked per resident per day, indicating that RNs are becoming harder to find in the current environment.
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breakdown as a downloadable PDF
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About Mirus Industry Analysis (MIA)
With one of the largest aged care databases in Australia, each month we bring you MIA – a monthly wrap up of insights captured from data covering 90,000+ beds.
