‘Get your money now’: consultants encourage aged care providers to exploit the system

Consultants have advised aged care providers to exploit the system by considering which residents generate “higher profit margins” and urged them to “get your money now” before new regulations are introduced.

Mirus Australia, which provides advice to around one-quarter of the aged care industry and manages about $5bn in revenue for clients, has quantified which older Australians are the most commercially valuable.

Jason Ward, of the Centre for International Corporate Tax Accountability and Research said the Mirus Australia briefing revealed the business models of many providers.

“The training video strips the soft veneer off of the aged care industry and shows that for many of the large operators it is about gaming the government funding mechanisms to maximise profits at the expense of residents,” Ward said.