Mirus Industry Analysis (MIA) – December 2021 edition
December 16, 2021 | Aged Care Management
Providers focus on ACFI amid uncertainty surrounding reforms
Rob Covino presents Mirus Industry Analysis (MIA), insights into the previous month’s key performance indicators across the not-for-profit, private providers, and the cumulative industry trends from the 89,000+ beds the Mirus Australia team currently monitors for financial sustainability.
Revenue management
The November period saw providers focusing on ACFI amid uncertainty surrounding the Aged Care Reform. The Department’s ACFI monitoring report insights from between July 2020 to 2021 demonstrates that size/scale and location of your facility has a direct correlation to your revenue.
A 70-bed provider is nearly 9% worse off in ACFI subsidies when compared to the 1,000 bed providers. Furthermore, remote providers achieved nearly 20% less in ACFI related subsides than the major city operators. The good news is the new AN-ACC mechanism will address these funding variances with increased payment weightings adjusted to a RAC’s service location, as defined by the Modified Monash Model.
Admissions management
Occupancy levels showed signs of recovery for the not-for-profit providers over November after the 12-month industry low reported in October. Our industry sample also reported 5,055 new permanent entries over November with just over half going to the not-for-profit providers.
Workforce management
As the sector continues to get their head around the mandatory care minute average that will be imposed from October 2023, we saw the care minute average jump nearly 22%, achieving 145 minutes of direct resident care. Registered Nurse (RN) minutes jumped nearly 30% to 22 minutes of direct resident care with nursing agency usage dropping 25%.
https://vimeo.com/656881905
As a MIA subscriber you will have access to the full data set breakdown as a downloadable PDF.
Get insights for your own organisation against the industry data
Benchmarking & Insights allow you to compare your Average Daily Subsidy (ADS) to the industry average. You will also gain valuable insights into your ACFI/AN-ACC claiming activity and benchmarking to support your occupancy, revenue, and workforce strategies. What’s even better, is that it’s free.
Click here to benchmark your facility today
About Mirus Industry Analysis (MIA)
We love numbers and we love data! 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 89,000+ beds.
Please contact us if you have any questions about this edition.
