Caring for Growth: Australia’s Largest Non-Profit Age care Operators
While aged care as an industry will need higher levels of public funding, additional government subsidies must be contingent upon greater transparency and public accountability. The largest non-profit residential aged care operators, like their for-profit counterparts, suffer from a lack of accountability and appear to prioritise investment and growth over care.
This CICTAR analysis of available public financial reports and government funding data on 9 large non-profit operators reveals a pattern of extracting revenue from government subsidised residential aged care to fund property investments.
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