Mirus Industry Analysis (MIA) – February 2024 edition
February 19, 2024 | Mirus Industry Analysis (MIA)
Nearly 64% of AN-ACC claims older than 12 months
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 February 2024 edition.
Revenue
In January, the industry experienced modest growth across all facility types, with the only category to decline being specialised homeless facilities, which fell -0.31 cents.
Total claiming activity decreased by -1.13%. However, the emerging trend is the subtle growth of AN-ACC claims in Services Australia, with nearly 64% now older than 12 months.
Occupancy
Occupancy fell slightly by -0.25% to 88.58%, however the MM5 and Specialised facilities types continue to rise. Short stay admissions declined by -3.68%, resulting in 21.5% of residents staying in care for less than 6 months.
Workforce management
Total Direct Care minutes rose by nearly 1.5% to 204.64 minutes worked on a per resident per day basis. In addition, January also saw the highest ever reported RN minutes, increasing by 3.27% to 38.95 minutes.
Watch the video below to catch up on all the details covering revenue, occupancy and workforce management.
As a MIA subscriber you will have access to the full data set
breakdown as a downloadable PDF
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About Mirus Industry Analysis (MIA)
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.
