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© 2015 Grant Thornton Australia Ltd. All rights reserved.
Industry Based Project: Aged Care
"Why is employment so important to the aged care sector?"
Josh TrounceMadeline Globan, Stephen Wright, Jonathon Sammut, Fiona Lee & Nathan Gioffre
© 2015 Grant Thornton Australia Ltd. All rights reserved.
Ageing Population and Workforce
With it anticipated that one quarter of Australia's population being over the age of 65 by 2036, this puts pressure on an already existing ageing workforce.
© 2015 Grant Thornton Australia Ltd. All rights reserved.
Company AStatement of Profit or Loss
For the Year Ended 30 June 2014
Revenue
5,666,917
Profit/(Loss) before tax
3,586,196
Depreciation and amortisation (244,265) Rental expenses (300,000) Management fee expenses (329,569) Food expenses (531,256) Cleaning expenses (141,972) Other expenses (505,200) Finance costs (28,459)
Employee costs
(3,381,813)
Profit/(Loss) before tax
204,383
Income tax benefit/(expense) (78,138)
Profit/(Loss) for the year
126,245
© 2015 Grant Thornton Australia Ltd. All rights reserved.
Company AStatement of Profit or Loss
For the Year Ended 30 June 2013
Revenue
5,204,519
Depreciation and amortisation (269,173) Rental expenses (300,000) Management fee expenses (301,245) Food expenses (642,230) Cleaning expenses (133,686) Other expenses (454,064) Finance costs (19,533)
Employee costs
(3,259,138)
Profit/(Loss) before tax
(174,650)
Income tax benefit/(expense) 58,562
Profit/(Loss) for the year
(116,088)
© 2015 Grant Thornton Australia Ltd. All rights reserved.
The population of Australians over 85 is expected to rise by around 250% by 2044
Aging Population
The Life expectancy for somebody born today is 82.1years in 30 years it will be over 90
© 2015 Grant Thornton Australia Ltd. All rights reserved.
Services Offered By Aged Care Facilities
• Traditional Aged Care Facilities• Home health care• Home Maintenance/ Modifications• Assistance with Meals• Transport• Shopping assistance• Respite Carehttp://www.myagedcare.gov.au/service-finders
© 2015 Grant Thornton Australia Ltd. All rights reserved.
Types of Workers and Training
Worker Required Training
• Nurse Diploma of Nursing (1.5 Year)Bachelors of Nursing (3 Years)
• Personal Care Worker (Management)
Certificate IV in Aged Care(1 Year)
• Personal Care Worker• Aged Care Assistant
Certificate III in Aged Care(6 Months)
© 2015 Grant Thornton Australia Ltd. All rights reserved.
2014 2050
Aged Care Workforce 352,100 827,100
Aged Pop'n (>84) 616,000 1,900,000
© 2015 Grant Thornton Australia Ltd. All rights reserved.
352,145
111,700
(Indirect Workers)
240,445
(Direct Care Workers)
© 2015 Grant Thornton Australia Ltd. All rights reserved.
Nursing Professionals
19.45%
Personal Carers & Assis-tants
74.8%
Allied Health Professionals and assistants
5.75%
Residential Care Services Breakdown
240,445
© 2015 Grant Thornton Australia Ltd. All rights reserved.
2001 2013 -
20,000
40,000
60,000
80,000
100,000
120,000
Part Time Vs. Full Time
Part-Time Work Full-Time Work
© 2015 Grant Thornton Australia Ltd. All rights reserved.
© 2015 Grant Thornton Australia Ltd. All rights reserved.
© 2015 Grant Thornton Australia Ltd. All rights reserved.
How can Grant Thornton take advantage of a growing aged care sector?
