Industry Analysis & Industry Trends
Nursing homes provide 24-hour high-level care for residents who are typically aged 70 years and older. The industry is set to expand at a strong rate, mainly due to the ageing of the Australian population. By 2051, nearly 20% of Australia's population is expected to be above 70 years of age.
While Australia's aging population suggests that industry revenue should grow strongly, revenue growth is restricted by budget constraints and target provision ratios that control the expansion of aged-care places. Consequently, over the five years through 2012-13, industry revenue is forecast to grow an annualised 5.5%. The Nursing Homes industry is expected to generate revenue of $11.5 billion in 2012-13, up 5.0% from 2011-12... purchase to read more
Industry Report - Starting a New Business Chapter
The barriers to entry for this industry are considered moderate to high and include the cost of building a nursing home, attaining approved provider status under the Aged Care Act, and meeting Commonwealth Government standards for facilities and quality of care, thereby achieving approved status, which entitles the nursing home to receive certain funding.
In the annual Aged Care Approvals Round, the Commonwealth Department of Health and Aged Care calls for applications from organisations that would like to receive funding under the Aged and Community Care Program to provide services to older Australians. Applications are received for new services, changes to existing services and conversion of residential aged-care places to community care packages... purchase to read more