Dignity of risk has been a recognised an essential part of consumer directed care for some time in the aged care industry, and is now a requirement under Standard 1 of the new Aged Care Quality Standards (the new Standards). This means that, from 1 July 2019, aged care providers must be able to provide that they are providing care and services in a way that facilitates consumer choice, including choices to take risk. But what does this mean for your aged care facility? And how can you facilitate consumer risk taking without exposing your own aged care facility to unwanted risk?
The next decade is shaping up to be an unprecedented period of change for the aged care industry. The aged population is poised to nearly triple by 2050, and as individuals they will likely live longer than ever before. The regulatory environment will have to change to respond to unprecedented need for services. In the medium to long term, the industry will go through an incredible amount of growth and change – not only to keep up with demand and regulatory change, but also to compete against more diverse competitors.
It's no secret that the older population is increasing dramatically across the globe. The World Health Organisation estimates that by 2050, the world's population aged 60 years and older will total 2 billion, which is up from 900 million in 2015. At the moment, we all fear getting older. And the biggest fear is that we have about getting older is that we will become ignored and irrelevant.
The Royal Commission into Aged Care Quality and Safety, announced by the Government in September, will no doubt shine an uncomfortable light on aged care providers. We see this announcement and the subsequent inquiry as an opportunity to help the industry move forward toward a future offering more choice, better quality care and (hopefully) lower price points for end users. Above all, the inquiry is essential to win back community trust in the sector and to encourage the development of newer and more innovative ways of delivering high quality care.
Here are some of the great companies re-shaping the health and aged care sector and delivering better outcomes for end users – all of which we believe will not only be the driving force for industry reform in the coming years but will also be absolutely essential to ensuring success and longevity in a sector that is increasingly competitive and under increasing public scrutiny, especially following the Royal Commission into Aged Care Quality and Safety announced on 16 September 2018.
Insights As To The Financial Management Obligations Of Retirement Village Operators (NSW)
The NSW Civil & Administrative Tribunal Appeal Panel has provided useful guidance in relation to several financial management issues in Sakkara Investment Holdings Pty Ltd atf Sakkara Landings Trust v The Residents Committee of The Landings Retirement Village  NSWCATAP 52