Jan 20, 2020

Major aged care provider reports $40 million loss

 

One of the nation’s largest aged care providers has reported a loss of $40 million.

However, after a property revaluation of nearly $24 million, the organisation’s “comprehensive loss” was reported as $16 million.

During the 2018-19 financial year, UnitingCare received nearly $651 million in government grants and subsidies. 

On top of that it received $515 million in patient and client revenue, and $213 million in services and fees.

Executives were paid $4.7 million, a decline from the previous year when they pocketed $5.3 million.

The organisation does not reveal in its financial accounts how much its chief executive officer, Craig Barke, is paid. 

Mr Barke was formerly chair of the company, and was appointed CEO on 3 October 2017.

Not-for-profit UnitingCare Queensland operates 57 residential aged care facilities, in total 3,875 beds.

In 2018 and 2019, UnitingCare saw several of its aged care facilities fail quality and safety standards, however, all failures have now been rectified, according to the My Aged Care website.

More government funding urgently needed

UnitingCare Queensland’s corporate affairs director, Matthew Cuming, told The Courier Mail that more funding is needed.

“We serve regional and remote communities where the for-profit providers often choose not to go,” he said.

“We need urgent federally led structural and funding reform to ensure our sustainability.”

UnitingCare Australia, which established UnitingCare Queensland in 1999, was part of a consortium of aged care providers and peak bodies that called on the federal government late last year to increase funding to the sector.

“Further targeted investment and reforms are urgently required to help ensure residential care sustainability, so older Australians in need receive care services where and when they require them,” a group statement said.

Transparency lacking on how government funds are spent

The Australian Nursing and Midwifery Federation in December 2019 called for greater “transparency” in aged care funding, to ensure government dollars are being spent on services that directly benefit residents.

ANMF federal secretary, Annie Butler, said in the statement, “Privately-operated aged care providers receive between 70-80 per cent of their funding from the Australian taxpayer, but with no current laws in place, they are free to spend public funds however they choose.” 

“With no Government guarantees attached or requirements to demonstrate the use of taxpayer- funding for aged care, the quality and quantity of care able to be provided to residents continues to be diminished,” she said.

Leave a Reply

Your email address will not be published. Required fields are marked *

  1. It maybe that Uniting Care needs more Government funding. It maybe that Uniting Care simply needs to chop out a couple of levels of management and employ more people who support clients.

    The problem is we don’t know because there is a lack of transparency.

    We need total transparency, eg: why can’t we know full details of the CEO salary. Its unlikely to be particularly useful information but it sets the tone for complete transparency.

    No increase in Government funding until all Aged Care Providers are completely transparent.

Advertisement
Advertisement
Advertisement

Sydney aged care home reaccredited despite administering out-of-date medication

An aged care home in the northern suburbs of Sydney administered out-of-date medication to residents, but has been reaccredited for another two years. Read More

Third retention bonus for aged care staff

  The federal government has announced an additional $500 million for the aged care sector, including more than $150 million for a third aged care worker retention bonus payment. “Aged Care workers are continuing to provide invaluable care for our senior Australians,” aged care minister Richard Colbeck said in a statement. The government has allocated... Read More

“There is a change in me”: How ‘Old People’s Home for Four Year Olds’ has changed Aesh’s life

Many older Australians experience loneliness. In the last 12 months, some aged care homes have received no visitors at all. One in four Australians live alone. Though “nervous” about it, Old People’s Home for Four Year Old’s Aesh, formerly an economics teacher, eventually decided to “give it a go”, and said the experience of being on the program has brought about positive changes in her life. Read More
Advertisement