Australia’s residential aged care and home care sector is operating at a loss with a recent survey finding that each bed is losing over $7,000 (US$4,700) per year—a loss in excess of $345 million for the September quarter.
This follows a 2022 population report that found Australia’s ageing population could pose a strain on the economy due to longer life expectancies, declining fertility rates, and a surge in baby boomers entering retirement.
