The introduction of the Australian National Aged Care Classification (AN-ACC) funding mechanism requires a new way of thinking about residential aged care operations. To be in control of AN-ACC, providers will need to be in control of the same assessment data which is now held by the Department of Health and Aged Care (DoHAC), and the Aged Care Quality and Safety Commission (ACQSC).
With the introduction of the external assessment process, only the accuracy of your forecasted resident classifications can help you ensure you have the funding you are entitled to. The connection of classifications to care minutes means that accurate data will allow you to reclassify residents as required to retrieve the correct funding, while also maintaining your care minute compliance.
How is this achieved?
Using Mirus Metrics, as the resident case mix changes within a facility, aged care providers will need to determine and forecast accurate AN-ACC classes to forward plan the appropriate admissions and staffing levels required to meet compliance, and to achieve optimal financial performance.
Providers will rely on their AN-ACC forecasts to forward plan compliance to care minutes and manage this critical balance between revenue and cost ahead of each planned rostering period. A more passive approach can be taken, but this will lead to margin erosion and poor financial results which in turn puts pressure on care operations.
Many providers have invested in Business Intelligence (BI) tools to help them gain visibility of their funding and care minute data. These BI tools are valuable to management but most often do not provide the resident transaction level of data required to manage the funding and care minute balance accurately. Mirus Metrics will not only help to reconcile the BI data in the management reports allowing for streamlined decision making, the data from Mirus Metrics can be connected to your BI via a link to allow more reliable data into your management reporting.
Many providers have also developed spreadsheets to track and calculate certain aspects of the process. Each provider manages around $10 million per facility of taxpayer funds through AN-ACC. This data involves handling sensitive personal and health care information about individual residents, and this critical data process requires protection in an accredited system to mitigate the risk of errors and data loss.
Mirus Metrics is an ISO27001 accredited system that meets the highest global standards of security and privacy. It seamlessly integrates with your BI reporting tools, enhancing the accuracy of your internal management reporting.
To learn more about Mirus Metrics and how it can seamlessly integrate into your daily funding and care minute management processes, please reach out today.