A new report from StewartBrown says that 45.1% of the 974 facilities surveyed are running at an operating loss. These losses are creating long-term instability of the sector. Funding pressures are the main cause and urgent Government action is needed says current LASA CEO Mr. Sean Rooney. The Federal Minister for Aged Care Ken Wyatt also acknowledged the report and reiterated the Governments focus when it comes to aged care. Aged care expenditure is projected to grow from $18.6Bn in 2017-18 to $23.6Bn by 2021-22.
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