Mirus Industry Analysis June 2019 (MIA)
July 11, 2019 | Aged Care Finance
Mirus Industry Analysis or MIA is our monthly video + blog series that brings to you all figures and statistics related to the industry. The EOFY is here and we have a special announcement from our Co-founder James Price in this edition. We have also created a unique guide which you can use to map your people + technology to the 8 new aged care quality standards.
For all support queries please contact our team here. Please send us any questions you might have regarding the information on MIA here.
[To watch the full video, click here.]
ADS & Occupancy
The Average Daily Subsidy was up across the industry at $178; with the private operators leading at $186.93 and not-for-profits at $174.29. Whereas Occupancy was down on all 3 cohorts, with the not-for-profits at 91.76%, the private operators at 88.78% and the industry average is at 90.81%.
(To read our latest free support guide produced to map your resources to the 8 new aged care quality standards, click here.)
There was a downward trend in claiming activities in May 2019. The industry average is at 7.96% (a decrease of 1.13%)now with the private operators at a claiming activity of 9.53%. They are leading when compared to the not-for-profits who are currently only at 7.36%.
The voluntary claiming activity or proactive claiming was up across all 3 cohorts, the industry average being 3.23%.
The overall percentage of addressable ACFI Claims (older than 12 months not HHH indicating they are eligible for voluntary claiming), was down in all 3 segments, with the industry average went down to 35.4%. The not-for-profits went down to 39.5% while the private operators went up to 28.6%. We’ve linked this data to the slight bump of the 6 month redos of the existing major claims.
Variance: New Vs Departed ACFI
When we look at the average ACFI of new residents compared to departed, we calculate the variance of the ADS between these two segments. With growing occupancy numbers, we are noticing a widening of the variance, the industry average variance now at -$27.25. The private operators are leading at $23.66 per day the not-for-profits, it are at $28.75.
For a benchmark level, the Mirus ACFI experts suggest a variance of $20 per day to be maintained as a good performance indicator for your facility. If you’d like to read more on ACFI optimisation, click here.
Complex Health Care Domain
Within the complex health care domain, we’ve seen a steady increase in the 4B procedures, with the industry average is at 47.29%. The private operators are at 50.14% of all claims having a 4B claim attached to it within the medicare data. The continence 5 claims also increased, with the industry average at 37.41%. The private operators are at 44% and the not-for-profits are at 34.42% here.
There were declining trends in both care and non-care hours during June 2019. Non-care hours were down by 3.4% (2.31 hours) and the care related hours decreased by 6.43% (0.76 hours). If we unpack the care related hours, the agency hours had a decrease of 19.85% (0.05 hours), the AIN hours declined by 3.61% (1.59 hours) and the Allied Health hours dropped by 16.41% (0.02 hours).
James Price joins Rob in this month’s MIA, to make a special announcement on our new CEO, Andrew Farmer. Please connect with Andrew on LinkedIn here.
With the decline of occupancy throughout the industry, we urge providers to have a look at their CRM & see if it’s working for them. Please use our CRM Self Diagnosis Tool for the same.
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See you next month!