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Health & Aged CareIndustry Focus
COMMUNITY
Grant Thornton is recognised as one of the leading professional advisors to the health & aged care industry. We work closely with all industry participants – hospitals, residential aged care providers, community care providers, industry associations and government – to provide a unique service offering that is drawn from our deep industry knowledge.
How we can help
Disability
Hom
e & Com
munity Care
Resid
enti
al
H
ospi
tals
1Models of care
2Consumer Experience
3Workforce Management
4Risk management
5Funding & investment
Core elements of service provision
Market Analysis Workforce Planning
Fi
nanc
ial &
Funding modelling
and
mer
gers
& acquisitions
Gover
nanc
e an
d co
mpli
ance
Grant Thornton Advisory services
1 Health & Aged Care - Industry Focus
Matching our capability to the aged care industry drivers
Key industry drivers Our experience
Government Policy and Regulation• Price and supply management• Prudential compliance• Living longer/living better reforms• ACNC regulations
• Grant Thornton’s industry group has been involved with major thought leadership and research. This includes publications like ‘Doing good and doing it well’ Not-for-Profit survey, the impact of the Living Longer, Living Better Reform and the Cost of Residential Aged Care.
• Roundtable forums and seminars representing industry participants and regulators.• Industry presentations to key executives of our clients so that they are able to assess the impact on
their organisation.
Demand and Supply• Demographics• Changing resident expectations• Increased demand for in-home care
• Grant Thornton monitor trends, such as cost of aged care and resident preferences through surveys.
• We use our experience and survey results to benchmark operations thereby assisting clients with a high-level operational review.
Service model and workforce issues• Quality of care/reputation• Service breadth and depth• Research and training• Ageing workforce• Skills shortage and staff retention
• Our team has assisted clients to undertake reviews of their current service model, to assist with gaining a greater understanding of workforce limitations to assist with developing a sustainable model of care, with a workforce that has the rights skills required for the current and future projected demand needs and are supplied at the right price.
• Grant Thornton conducts on-going research to monitor workforce trends by looking at the way in which the workforce interacts with the infrastructure, critical resident needs and the organisations policies and procedures.
Asset quality and scale• Age of buildings and capex
requirements• Scale, design and configuration• Redevelopment/expansion potential• Service/portfolio scale
• Infrastructure age and layout is particularly important in the success of an organisation in this industry.
• Significant efficiencies are normally found linking infrastructure and workforce.
Fees/Funding• ACFI Maximisation/Resident mix• RAD management• Resident fee structures• Government grants and subsidies• Donations• Balancing service standards and
financial performance
• The Living Longer, Living Better changes have created uncertainty in relation to future resident funding in aged care facilities. We have assisted clients with cash flow modelling using sensitivity analysis to estimate future cash flows from operations. A major element is determining what portion of the funding from residents will be in the form of lump sum payments versus annuity payments.
• Reviewing investment policy is to ensure an organisation is matching its risk profile to their use of financial assets.
Information systems• Care systems and documentation• Financial reporting and
management• Use of technology• Controls over growth in the business
• Understanding key controls required by the organisation.• Understanding how the businesses use technology to achieve operational efficiency.
Structure of market/competition• Consolidation• Sector participation
• Consolidation in the industry is happening as care models change with the expectations of an aging population.
Health & Aged Care - Industry Focus 2
“Grant Thornton is recognised as one of the leading professional advisors to the health & aged care industry. We work closely with all industry participants – hospitals, residential aged care providers, community care providers, industry associations and government – to provide a unique service offering that is drawn from our deep industry knowledge.” Sandy Lawson | National Head of Health & Aged Care
Specialist Health & Aged Care industry team
3 Health & Aged Care - Industry Focus
Our national team of specialists
Sandra Lawson National Head of Health & Aged CareT +61 3 8320 2167 [email protected]
Trevor PogroskePartner Recovery & ReorganisationT +61 2 8297 [email protected]
Andrew RigelePartner Audit & AssuranceT +61 2 8297 2595 [email protected] com
Brinos LambrinosPartner Privately Held BusinessT +61 2 9286 [email protected]
Scott Hartley National Head of Public Health SectorT +61 3 8663 6143 [email protected]
Rory Gregg Partner & Subject Matter Expert – CDC T +61 2 8297 2531 [email protected]
Andrew TrnacekPartner & Subject Matter Expert – Market Demand AnalysisT +61 3 8663 [email protected]
Our team is a highly experienced team with a long history of working with clients in the health and aged care sector. Our cross functional team of health and aged care specialists includes clinicians and technical experts.
Simon HancoxPartner Audit & AssuranceT +61 7 3222 [email protected]
Phil PareezerSenior AdvisorT +61 7 3222 [email protected]
Michael RobertsSenior AdvisorT +61 3 8663 [email protected]
Our clinical experts
John BlightPartner Corporate FinanceT +61 3 8320 [email protected]
Sheenagh EdwardsPartner Audit & AssuranceT +61 8 8372 [email protected]
Paul GooleyPartner Corporate FinanceT +61 2 8297 [email protected]
Mitesh RamjiPartner Corporate FinanceT +61 8 9480 [email protected]
Graham CoonanPartner AuditT +61 7 4046 [email protected]
Darrell PriceAssociate Director Operational AdvisoryT +61 7 3222 [email protected]
Health & Aged Care - Industry Focus 4
Grant Thornton is committed to contributing to the public debate on critical issues facing the health and aged care sector in Australia. We regularly produce thought leadership materials and host events on industry specific issues where we share our knowledge and insights based on our local experience and that of our international firms.
Thought leadership
Some examples of this include:
Navigating the next wave of change in In-home Care
Industry Intelligence Unit – Aged Care Sector, December 2013
Residential elderly care, UK sector review 2014
Doing good and doing it well?Grant Thornton Australia and New ZealandNot-for-Profit sector survey 2013/2014
Maintaining sufficient reserves to protect your Not-for-Profit Organisation
Alerts on the commencement and implications of the Australian Charities & Not-for-Profits Commission
2012 National Board Governance, Survey for Not-for-Profit Organisations
Not-for-Profit Industry Insider
Living Longer, Living Better Reform Report #1
Living Longer, Living Better Reform Report #2 – The unintended consequences
Implications for the residential aged care industry from the Productivity Commission’s report
Grant Thornton/RVA Retirement Living Survey
Our team has developed a strong understanding of your sector which is enhanced by our active involvement with peak bodies, regulatory agencies, governance positions and volunteering. These include LASA and AHSFMA.
5 Health & Aged Care - Industry Focus
Grant Thornton is one of the world’s leading organisations of independent assurance, tax and advisory firms.
These firms help dynamic organisations unlock their potential for growth by providing meaningful, forward looking advice. Proactive teams, led by approachable partners in these firms, use insights, experience and instinct to understand complex issues for privately owned, publicly listed and public sector clients and help them to find solutions.
Grant Thornton Australia has more than 1,150 people working in offices in Adelaide, Brisbane, Cairns, Melbourne, Perth and Sydney. We combine service breadth, depth of expertise and industry insight with an approachable ‘client first’ mindset and a broad commercial perspective.
More than 38,500 Grant Thornton people, across over 100 countries, are focused on making a difference to clients, colleagues and the communities in which we live and work. Through this membership, we access global resources and methodologies that enable us to deliver consistently high quality outcomes for owners and key executives in our clients.
Industry specialisations
Automotive Dealerships
Education
Energy & Resources
Financial Services
Food & Beverage
Health & Aged Care
Hospitality & Tourism
Life Sciences
Major Projects & Infrastructure
Manufacturing
Not-for-Profit
Professional Services
Public Sector
Real Estate & Construction
Retail
Technology & Media
38,500+ people globally
100 countries
$4.5BN worldwide revenue2013 (USD)
1,150+ people nationally
Advisory services
Financial advisory
Acquisition & investments
Due Diligence
Valuations
Fraud risk management & investigation
Initial Public Offering
Investigating Accountant’s Reports
Independent Expert’s Report
Financial Modelling
Transaction advisory services
Merger integration
Operational advisory
Internal Audit
Information Technology Risk & Security
Corporate Governance
Risk Management
Data Analytics
Capital Integrity – alignment of programs to deliver organisation strategic
Project Governance & Management
Strategy Design & Implementation
Performance Improvement & Process Re-engineering
Execution Workforce Advisory services
Our services to dynamic businesses
Tax
Business planning tax advice
Corporate tax risk management services
GST & indirect taxes
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Audit & assurance
External audits
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Reviews of financial reports
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IFRS training
Expert accounting & audit opinions
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Privately Held Business
Business & strategic planning
Compliance services
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Outsourced accounting solutions
About Grant Thornton
Health & Aged Care - Industry Focus 6
www.grantthornton.com.au
Grant Thornton Australia Limited ABN 41 127 556 389
‘Grant Thornton’ refers to the brand under which the Grant Thornton member firms provide assurance, tax and advisory services to their clients and/or refers to one or more member firms, as the context requires. Grant Thornton Australia Ltd is a member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate one another and are not liable for one another’s acts or omissions. In the Australian context only, the use of the term ‘Grant Thornton’ may refer to Grant Thornton Australia Limited ABN 41 127 556 389 and its Australian subsidiaries and related entities. GTIL is not an Australian related entity to Grant Thornton Australia Limited.
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