Mirus Industry Analysis (MIA) – January 2024 edition
January 23, 2024 | Mirus Industry Analysis (MIA)
Average Daily Subsidy (ADS) increases by $11.29, reaching 267.43
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 January 2024 edition.
Revenue
During the month of December, the industry’s Average Daily Subsidy (ADS) increased by $11.29, reaching $267.43.
The total AMO claiming activity fell by -3.35% across the industry, achieving just shy of 4.3% of total Medicare claims being assessed.
Occupancy
Occupancy levels continued to rise throughout December, reaching 88.91%. Short-term stay admissions increased by 1.51% during the same period, with just over a quarter of all residents staying in care for less than 6 months, a typical occurrence for this time of the year.
Workforce management
Total care minutes decreased by -1.69% from November to December, while Registered Nurse minutes per resident per day decreased by -1.4%.
Watch the video below to catch up on all the details covering revenue, occupancy and workforce management.
As a MIA subscriber you will have access to the full data set
breakdown as a downloadable PDF
Understand your Star Ratings and how to improve them
We have analysed the data and generated reports for all facilities in Australia and these reports are now available.
The free Star Rating analysis of your facility includes:
- An easy-to-read report detailing where you are in your ratings
- A view of where you rank against others in the industry
- The decimals points behind your result where you could be rounded up or down
- A conversation with our consultants on what your results mean and tangible next steps on how you can improve them
To explore your results, fill out the form and our team will contact you to create a time to discuss.
Click here to request your free star ratings analysis.
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.
