RSM Australia

Aged Care Services

RSM offers Aged Care consulting services and advice

Accounting and business advisory services for aged care

The aged care sector is rapidly growing and evolving. The team at RSM have significant experience in the aged, community and disability care sector and understand the balance between delivering quality care whilst at the same time retaining a profitable business.

Through extensive experience and innovative accounting and business practices in the aged care sector, RSM provides accounting and advisory services for all of your planning, forecasting, systems and process needs as an aged care business.

As aged care sector experts, RSM can examine your policies and practices and provide you with a detailed analysis of your current situation.

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We will then develop practical solutions to increase the efficiency and compliance of your organisation, ensuring you comply with current best practice and legislative requirements to ensure that you are provided with the best and most up-to-date advice.

Whether you are a individual stand-alone home care or retirement living provider to a large scale residential aged care facility, RSM's aged care consulting services and advisory services can assist with all of your planning, forecasting, systems and processes needs.

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How can we help you?

RSM offers Safe Harbour strategies

New assets test threshold and your aged pension

1 September 2016
For the majority of Australia’s retirees, the Aged Pension provides income support as either a full or part pension. Eligibility is subject to both an income and assets test. These tests are set so that retirees draw down on their own assets to certain levels before they are entitled to any type of social security benefit.

Introduction to Short Term Restorative Care (STRC)

21 July 2016
The majority of top tier providers (according to financial performance) take the specialisation route. This makes sense because, whilst the provision of care is common in all services, the business models across service areas vary significantly. The bottom line being; doing what you already know reduces risk.

The balance between supply and demand for residential places

8 July 2016
The release of the ACAR for 2015 and recent research undertaken by RSM for our Aged Care Sustainability Review 2016 provides an opportunity to consider how the supply management regime is working in residential aged care.

RSM aged care community insights - June 2016

20 June 2016
Profit from employing a right sizing strategy

What are the major challenges facing the aged care sector?

9 June 2016
RSM’s National Head of Aged Care, Bruce Bailey, discusses his thoughts on reported aged care demand likely being understated, as well as funding the required expansion of the industry.

Increasing choices - but not supply

21 April 2016
The introduction of the Increasing Consumer Choice Bill into Parliament in February provides an interesting study on the impact on demand and supply within the context of a system that ratios service provision.

Aged Care Sustainability Review 2016

18 April 2016
The inaugural edition of the RSM Aged Care Sustainability Review has highlighted a number of issues and trends that directly relate to the viability and sustainability of the residential aged care sector. Key findings from our research include:

RSM aged care services update - March 2016

21 March 2016
If you hold a senior position in an approved provider then you will have already felt the winds of change that we anticipate will blow for many years to come as the sector moves inexorably from a welfare entitlement base to a user pays supported by government safety net. This update contains our thoughts and insights on a number of key areas that are being impacted

Is it better to be a specialist or a generalist in aged care?

29 February 2016
Recently I presented at the strategic planning session of the board of a mid-tier residential aged care provider. This group also has a minor position in home care and a reasonable footprint in ILU’s.

Background to capital grants for residential aged care providers

12 February 2016
We have analysed the capital grants approved by the government through the 2013, 2014 and 2015 ACARs. The following analysis is provided to assist those providers who are considering making an application for a capital grant in the 2016 ACAR.

Dataset: forecasted supply of bed licences by ACPR from 2016 to 2020

10 February 2016
The data table represents the following across aged care planning regions:

Business insights from RSM

16 December 2015
The 2015 year is fast fading and the reality of the challenges and the excitement at the opportunities of 2016 are in front of us all.

Managing capital in aged care: how much difference does it make?

14 July 2015
There is an acknowledged need for significant new capital investment in residential aged care assets. Investment decisions are driven by the expected return on investment. We postulate that the ultimate measure of this is return on equity.

Aged care: benchmark to whom and what?

6 July 2015
Recently I ran the Sydney half marathon with one of my daughters (she beat me). When the results came out I was less than enthused by both my absolute and relative performance. This is an example of an unpleasant realisation from benchmarking. When I consider benchmarking for approved providers I find the following helpful:

Aged care and the relative metrics of managing revenue as opposed to managing costs

1 July 2015
Some providers subscribe to the view that as most income is set by the government, the best way to manage operating performance in residential aged care is to actively manage operating costs, so for many this means managing the roster.

How to measure the financial performance of an aged care provider

17 June 2015
Consider two hypothetical residential aged care facilities. Save for the following distinctions, all other operational costs and revenues are the same. Facility 1 is a not-for-profit that is heavily reliant on donations to supplement its income and takes in exclusively supported residents.

RSM aged care update - June 2015

9 June 2015
The hot spots as we see them: There is a lot happening in aged care and at RSM our priorities over the coming 6 months will be helping clients in the following areas: Realignment of operations: in response to legislative changes from 1 July 2015 providers are increasingly asking themselves whether they should:

Factors influencing the financial performance of residential aged care providers

1 June 2015
In June 2014, ACFA engaged RSM (known as 'RSM Bird Cameron' at the time), in association with PricewaterhouseCoopers (PwC), to study the qualitative and quantitative factors influencing and associated with the variable financial performance of different residential aged care providers.

Aged care, how much could it cost?

13 May 2015
These days when people move into an aged care home they must pay a basic daily fee of $47.49. They may also be required to pay a means tested daily care fee based on assets and income, an accommodation payment and fees for extra optional services.

What aged care means

29 April 2015
We know there is high probability of entering aged care in later life. Quite likely, due to ill health at that time we will be unable to cope with all the decisions and forms required at that time. Making sure we have nominated somebody as our trusted financial power of attorney, long before that event, will make the process so much easier.

WA state tax exemption for charitable bodies or organisations

10 April 2015
How will the changes affect your organisation?

Proposed changes to financial reporting for providers of residential aged care and home care

27 February 2015
Executive summary We understand the proposed change to financial reporting is a starting point on the path to a future state for financial reporting where: