Revenue leakage is a silent but substantial challenge affecting many industries, and Australian aged care is no exception. Revenue leakage is the loss of revenue due to inefficiencies, errors, or missed opportunities, and it can undermine financial sustainability and jeopardise an aged care provider’s ability to deliver optimal care.
From January 1, 2025, the maximum chargeable Refundable Accommodation Deposit (RAD) without prior approval from the Independent Hospital and Aged Care Pricing Authority (IHACPA) will increase to $750,000—and for the first time, this cap will be indexed 1 July each year. Here’s what this change means for providers.
In aged care, precision and efficiency in handling information aren’t optional; they are vital. Spreadsheets might feel like a reliable and familiar tool, but they come with limitations. Here, we share why aged care facilities should consider a purpose-built platform like our Mirus Metrics platform for managing AN-ACC processes and much more.
From 1 October, the AN-ACC price will include new weightings for each class’s NWAU in addition to the indexation to the National Efficient Price. Here we unpack further what these changes mean for your facility.
Delivering the required care to remain compliant while not operating at a loss means facing the dual challenges of financial sustainability and regulatory compliance. Recent data from the Quarterly Financial Reports (QFRs) shows the extent to which these objectives oppose each other. We also want to understand who is achieving the appropriate balance, and how.
Our Executive leadership met with the Department of Health and Aged Care and discussed the Care Time Assessment Audits focusing on the data Providers include in their QFR submissions. This blog highlights common themes in Care Time reporting errors and provides guidance on ways to improve reporting practices.
Providers have been asking about our forecast on where the AN-ACC pricing will be set this coming October. Here’s an overview of what’s ahead.
In this blog, we delve into the insights gained from the Quarterly Financial Report (QFR) data to understand the operational hurdles and potential strategies for achieving surplus.
Mirus Australia is proud to announce that it has been awarded the prestigious InterSystems Global Impact Award 2024.
As providers have transitioned to the AN-ACC framework, the focus on workforce capacity, care minute compliance, and financial optimisation has now become more critical than ever. Learn how three aged care providers have benefited from support to accelerate their AN-ACC funding.