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Core Vision

Is the Aged Care Market Ready for What’s Around the Corner?

Louise Roberts

The aged care sector is undeniably becoming the fastest growing service industry in this country, driven by a sizeable baby boomer cohort who are now facing reality that they need the appropriate care.

This $20 billion industry, accounts for direct employment of 350,000 Australians across more than 1800 businesses and is expected to double in size within the next 40 years surpassing the mining and resources sector.

Our ageing baby boomers are very different from previous generations, with a change in economic, social and cultural attitudes.  What the industry will see, is a consumer that will demand an improvement in services, communication and want a better standard of aged care facility. This consumer directed model will redirect aged care resources to an area of looking after the emotional needs of the residents, rather than time being spent on onerous administrative and maintenance logging tasks.

Property Owners/Manager take note!

Multiple aged care conferences in Australia are highlighting this need to adopt new technologies for improved efficiency, cost effectiveness and above all, critical for sustainability. Integrative facilities management will be an essential key to assisting in ensuring a well maintained facility.

What does this mean?

Historically, nursing homes in Australia were small facilities with around 30 beds each, often run as family businesses or provided by not for profit organisations.  Between 2002 and 2013, the proportion of facilities with more than 60 beds doubled to 48.6% and this is now set to soar with larger facilities the norm.

Larger facilities = Capital infrastructure 40 years = Systems to ensure longevity of assets

Core Vision, the industry leaders in the facilities and asset management sector, myBuildings Aged Care, has the expertise behind it to ensure efficient building management, reduced risk mitigation and overall increased tenant satisfaction.

We are confident we can provide you a cloud based facilities and asset management system that is suited to your facility.

Source:  Ralph Hampson – Senior Lecturer, Health and Ageing, University of Melbourne.