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|Day Presenting:||Tuesday 30 October|
|Time:||11:30am – 12:00pm|
|Session||Concurrent C1 – Finance and Funding|
|Presentation Title||Beyond the Horizon – A Look into a Future of a Deregulated Market|
|Position Title||Managing Director|
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The industry has just endured one of the most challenging years in over a decade, with countless reviews and investigations, funding cuts and compliance overhauls. Whilst this has created a level of uncertainty, as the next generation enters the market, the sector is entering an exciting time that will give providers an opportunity to rewrite the rules of aged care.
So with change inevitable, what can the future look like for the aged care industry?
In a less subsidised dependent system, the rationing of residential aged care supply can be relaxed and providers will be able to invest in new services where they are needed. By easing pricing constraints, investors will be able to move forward on capital developments with more confidence (as long as they remain competitive), with less exposure to Government austerity measures and policy changes.
More equitable means testing arrangements will facilitate rapid growth in home care supply, directing subsidies towards those that need the support most and releasing a new generation of innovative, user pay and subsidised care offerings.
But this will not be an environment for the faint of heart! Consumer expectations around service quality and flexibility will grow exponentially when they are paying for more of it. Nothing encourages consumer centric behaviours more than competition and the next generation of consumers are the architects of “consumer choice”.
Providers will need to quickly adapt to the highly variable needs and preferences of their clients. Those that are unable to shed their traditional program based models will concede market share to more nimble operators. This will drive innovation and efficiency as informed customers seek to maximise quality and affordability.
This presentation will explore what the future can hold for the aged care industry in a deregulated market. Explaining through examples the challenges and opportunities this could present for the sector.
Cam is a Chartered Accountant and Managing Director of Ansell Strategic, Australia’s leading professional aged care advisory firm. He has worked in the aged care and retirement living industries for over 25 years and is an internationally recognised thought leader in the sector.
Cam has undertaken leading edge capital development projects leveraging his extensive practical experiences working in Australia, USA, Asia and New Zealand. He has lead major studies across Australia and New Zealand to advise Government and the industry on financial viability and sustainability. He has also personally managed and transformed major aged care organisations in crisis.
Cam has taken lead roles in some of the country’s largest mergers and acquisitions and has overseen the delivery of policy-changing studies involving most Australian and New Zealand aged care providers. He is a well recognised national and international speaker on the changing trends in seniors’ accommodation and care services.