The residential aged care sector is sitting on a $30 billion house of cards confronting a great deal of risk that could potentially result in a cash flow crisis.
Average refundable accommodation deposits - paid by incoming residents - were $427,023 in the nine months to March. That was an increase of $27,567 on the nine months to March 2019. "With right economic conditions, the right changes socially, the right changes to perception, there is a house of cards, a $30 billion house of cards that we are sitting on," Mr Mersiades said.
Commonwealth health secretary Dr Brendan Murphy confirmed on Friday there had been for some particular small number of facilities, "a significant outflow", which the department was watching "very closely". It was also monitoring the financial viability of providers in Victoria.
juliepower Aged-care a house of cards, along with Tertiary sector and mortgage market. The future seems bright
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Special high tea' at aged care home defended for lifting spirits, despite lack of masksStaff from an aged care home in Melbourne's east have been filmed dancing together at a party without any personal protective equipment but the chief executive of the home is standing by his staff, saying it 'was a source of great enjoyment'. Let it go folks, its just not selling like it use to, get back to living your life the way you want, its just over. ABC dobbers Ah, so now I know why they call it 'high tea'
Source: abcnews - 🏆 5. / 83 Read more »
'Absolutely flooded': Record numbers of women seek mental health helpSocial isolation, the stress of home schooling and caring for elderly relatives, and economic worries are affecting women of all ages during the coronavirus pandemic. Nobody could have foreseen this months ago. Even with the help of thousands of bureaucrats and highly paid consultants. Could they? Another article about women and how bad COVID is for them. The vast majority of deaths are MEN yet no endless articles about the pressure and risk men are living with. Your paper has become a joke, full of bias and clear agendas. Thanks Dan.
Source: theage - 🏆 8. / 77 Read more »
Premier criticises high tea party with no PPE at Melbourne aged carePremier Daniel Andrews has criticised an aged care facility in Melbourne&x27;s east for allowing staff to remove their PPE during a centre high tea party. I wonder what hospitals are for🤔 They sure seem to be quiet lately,maybe we should stick sick people in there. The Mexicans are a special bunch 'they have absolutely no common sense.
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Australian and British men killed in blast in Solomon IslandsSolomon Islands Police say two foreigners were killed when a munition exploded in a residential area in the capital Honiara.
Source: abcnews - 🏆 5. / 83 Read more »
Australian, Briton killed in explosion in Solomon IslandsThe Australian believed to be in his 40s was working to decommission an undetonated bomb that exploded in a residential area of Honiara.
Source: smh - 🏆 6. / 80 Read more »
Concerns mount over Victoria's face mask shortage | Sky News AustraliaVictorian health care workers are being forced to ration their health care equipment as face mask supplies drop to alarmingly low levels. \n\nThroughout the state’s fight with the coronavirus pandemic, many frontline workers reported being unable to access necessary PPE. \n\nThe shortage prompted the Andrews government to encourage local manufactures to modify machinery in an effort to keep up with demand. \n\nNearly 3500 health care workers across the state contracted the virus. \n They can always use panties😊 Dopey Dan said its perfectly acceptable Victorian health workers would be disposing these masks as Bio Hazard as per protocol. 🙄
Source: SkyNewsAust - 🏆 7. / 78 Read more »