Mirus Industry Analysis (MIA) – December 2023 edition
December 14, 2023 | Mirus Industry Analysis (MIA)
Average Daily Subsidy (ADS) decreases across all facility types
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 December 2023 edition.
Revenue
November saw the industry ADS drop by -16 cents to $255.50, with the MM5 facility category falling to $266.70. This could be attributed to an increase in admissions, in addition to the mandated care minute targets.
Voluntary claiming picked up slightly across all segments in November, except for the MMM=5 facility type which declined by -1.73%.
Occupancy
Occupied bed days continued an upward trajectory, reaching 88.82% in November.
However, new permanent admissions were down by -5.49%, short-term stays also declined, and respite usage dropped by -10.45%.
Workforce management
Total direct care minutes worked grew by 1.53% from October to November, reaching 205.11 minutes. RN minutes also showed strong gains, still below the anticipated 40-minute national average but up 1.24% to 38.25 minutes.
On the 1st of December we learned of the data anomaly within Service Australia’s calculation of Resident Entry and Departure events, which subsequently impacted the Department’s logic on how a care minute target is calculated and assigned to each service. You can read more about that here.
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
50% off Accommodation Pricing Report ends 31st Dec 2023.
Only 2 weeks left to claim your 50% discount on the Accommodation pricing reports. Take advantage of this great offer and order your tailored Accommodation Pricing Report for just $249.00 (normally valued at $499.00). The report is designed to help you understand your competitors, room types and pricing so that you can compete with the right price and right goals for your organisation.
Click here to order your tailored Accommodation Pricing Report.
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.
