Australia ViewPoint - Will The Royal Commission into aged care increase labour costs? November 2018
Demand for aged care services will increase as the share of Australians over 75 grows from ~6.5% to ~8% of the population by 2023 and will continue to rise over the next two decades. But as demand increases, there are reports of neglect and poor quality of care for residents and chronic levels of understaffing in the industry.
A Royal Commission into the sector was announced to investigate and provide recommendations to achieve a higher quality of care and safety for residents. The terms of reference for the commission were announced on the 9th of October following more than 5,000 submissions by industry professionals and aged care consumers.
The likely outcomes from The Royal Commission will have far and wide implications for healthcare real estate.