Using best practices to enhance your digital health.
The Australian aged care sector is one of the most dynamic in the country. With a multitude of political, economic, social, and technological forces all putting pressure on providers, organisations must find productivity gains at every turn.
For many providers, the importance of client- centricity was not a new concept when emphasised by The Aged Care Quality Standards and The Royal Commission. However, there is an inherent barrier to successful client-centric strategies including the changing aged care landscape.
Financial Challenges Â
StewartBrown’s survey for the year ending June 2023 highlights sustained financial instability for the aged care sector. This is underlined by six years of significant aggregate operating losses across residential aged care. Therefore, the year-end results saw a staggering 66% of aged care homes operating at a loss, a figure consistent with the 67% from FY22.
Competitive Forces
The combination of new market entrants and mergers and acquisitions are transforming how the market operates. KPMG’s analysis of new market entrants highlights that growth success has common factors, namely low-cost, self-management, and tailored support for ‘diverse communities’ within the broader market.
The Modern Aged Care Client
In addition to their preference to remain in their own homes for longer, many older Australians bring unique expectations for healthy living post- retirement and have an increasing financial capacity to choose their preferred care services.
The Digital Health Era
The modern aged care client has become accustomed to operating in the digital world, so it’s reasonable that they would expect to manage their healthcare needs in a fit-for-purpose digital ecosystem.Â
The Australian Government is working towards such improvements through The National Digital Health Strategy 2023–2028, which further emphasises the need for aged care providers to achieve productivity gains at every turn.Â
Whether creating innovative models of care, projecting your workforce requirements, or setting budgets, you need best in class technology solutions to support you at each step of your productivity maximisation journey.Â
 Developing and managing such strategies requires contextualised insights delivered in real time, which is the essence of business intelligence.Â
The Aged Care Productivity Maximiser
Only 52% of decision makers and 61% of aged care recipients believe that their care provider uses technology to improve the speed and efficiency of care.
Epicor’s latest eBook, The Aged Care Productivity Maximiser, discusses customer experience and business intelligence best practices to assist Australian aged care organisations thrive during this transformational era.
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