Subsidy gap between new vs departing ACFIs is narrowing rapidly
Rob Covino presents Mirus Industry Analysis (MIA), a series of monthly insights into the key performance indicators and cumulative industry trends from the 90,000+ beds we monitor for financial sustainability.
Welcome to the August 2022 edition of Mirus Industry Analysis (MIA).
Revenue management (starts at 0.04)
July saw rates indexed at 1.7%, which added $3.28 to the industry Average Daily Subsidy (ADS). Organic growth over the course of the month added an additional $0.26, bringing ADS for the sector to $195.66. Watch the video to see data on claiming activity, including claims greater than 12 months and voluntary claiming activity, and more information on complex health care (CHC) trends (4b and 5).
Admissions management (starts at 1.44)
Occupancy dropped further in July to 86.64% occupied bed days, and with the reduction in admissions, the subsidy gap between new vs departing ACFIs is narrowing rapidly. Watch the video for more information on permanent and new permanent admissions, acuity of admissions, percentage of new admissions from hospitals, average age of admissions, and respite bed days used.
Workforce management (starts at 3.17)
Care minutes dropped 10.76% in July to 134.50 mins per bed per day, and agency minutes declined 49.15% to 2.49 mins. Watch the video to see data on RN minutes, AIN/EN minutes, Allied Health minutes, and more.
Get insights for your own organisation against the industry data
Benchmarking & Insights allow you to compare your Average Daily Subsidy (ADS) to the industry average. You will also gain valuable insights into your ACFI/AN-ACC claiming activity and benchmarking to support your occupancy, revenue, and workforce strategies. What’s even better, is that it’s free.
About Mirus Industry Analysis (MIA)
We love numbers and we love data! With one of the largest Aged Care databases in Australia, each month we bring you MIA – a monthly wrap up of insights captured from data covering 90,000+ beds.