Mirus Industry Analysis (MIA) – August 2024 edition

Care time and RN minutes on the rise as October 1st approaches

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 2024 edition.

Revenue

In July, the industry’s Average Daily Subsidy (ADS) fell by -0.14 cents to $269.63. Initially, the total claiming activity reported for June was much lower than expected but was later adjusted to 7.62%, indicating that AMOs were managing significant end-of-year claiming backlogs.

Provider’s, what you have been experiencing with your AMO response times? We’d love to hear from you.

Occupancy

Occupied bed days continue to trend flat, finishing at 88.34%. New permanent admissions increased by 1.96%, many of which seem to have converted from respite care, which declined by nearly -11.70%.

Workforce management

With the increase in care minutes on October 1st less than 2 months away, July saw direct care minutes rise by 1.20% to 205.96 minutes, and RN minutes increase by 2.75% to 40.80 minutes per resident per day.

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.  

Catch up on earlier editions