FY23 Full-Year Results Presentation
Regis Healthcare Limited | FY23 Full-Year Results Presentation
Industry Reform and Sector Changes
Aged care worker pay rise
Fair Work Commission - Work Value Case
increased modern award wage rates by 15% to
eligible aged care workforce from 30 June 2023
Funded by Government through AN-ACC
Fair Work Commission - Annual Wage Review
announced increase to minimum award wages
of 5.75% from 1 July 2023
► Impact on Regis: Improved ability to attract
and retain staff
IHACPA
Introduction of Independent Hospital and Aged
Care Pricing Authority (IHACPA) to determine
cost of care under new AN-ACC funding model
►IHACPA provided advice to Government on
pricing of residential aged care services which
informed the 2023-24 Federal Budget
Impact on Regis: Independent body will
provide funding recommendations linked to
cost of providing care
Funding
► Transitioned to AN-ACC on 1 October 2022 which
provides equitable funding according to resident
needs (13 classes of funding)
New AN-ACC price from 1 July 2023 with
Government intention to cover worker wage
increases and indexation
Starting industry AN-ACC funding to providers
increased to $243 per resident per day
► New methodology for annual changes in
prices/indexation, informed by IHACPA
Government Aged Care Taskforce to review
funding arrangements by December 2023
Impact on Regis: Improved funding regime
Bed licences
► Bed licence deregulation on 1 July 2024
► Impact on Regis: Significant growth
opportunity for scale players through
greenfield and brownfield development,
as well as M&A
Care minutes
Mandated care minutes requirement commences
1 October 2023
requiring on average 200 care minutes
including 40 minutes from a registered nurse
Care minutes are reported to the Department of
Health & Aged Care (DHAC) each quarter
► 24/7 registered nurse required from 1 July 2023
Impact on Regis: Advantages providers with
scale and systems to support increasing care
requirements and ability to attract
qualified staff
Star ratings
► Star ratings introduced 1 December 2022
▸ Designed to support consumer choice and
comparison of aged care homes
► Each home is assigned an overall star rating
evaluating four sub-categories: resident
experience, compliance, staffing and quality
measures
► Enhanced quality standards effective 1 July 2024
Impact on Regis: Opportunity for positive
differentiation for high quality operators
regis healthcare
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