According to the Department of Health and Aged Care's Quarterly Financial Snapshot for Quarter 3 2023-24, the median care management fee for Home Care Packages was 17% per Package, below the 20% cap that came into effect on 1 January 2023, but well above the cap proposed under the Federal Government's proposed aged care reforms.
Under the reforms, home care recipients will only have a maximum of 10% of their quarterly budget set aside for care management, plus supplements for care recipients with diverse needs. Package management fees will be factored into service pricing.
Package management fees, according to the QFS, which are currently capped at 15%, increased to 12% (up from 10% in quarter 3 2022-23) for Levels 3 and 4 Home Care Packages, and to 12% in quarter 3 2023-24 (up from from 11% in quarter 3 2022-23) for Levels 1 and 2 Home Care packages.
Under Support at Home, a 'care partner' will deliver person centred care management, which will include activities such as care planning, service coordination, budget oversight, monitoring, review and evaluation of needs, education, system navigation, and staff to ensure clinical oversight of a participant's wellbeing. Care management funding will also be able to be pooled by providers.
Package management includes administration such as scheduling and general administration.
Less than one hour of care per day
Elsewhere in the QFS, data showed that older Australians are receiving a median of less than one hour of care per day in line with StewartBrown's figures.
Care recipients received a total median staff time of 55.66 minutes per care recipient per day, up 2.8% or 1.49 minutes over the quarter.
Unspent funds increased by $2 million every day
And as of 31 March 2024, the balance of Home Care Package unspent funds was $3.5 billion, up $800 million from 31 March 2023.
Earnings higher
The QFS also showed that home care providers recorded earnings before interest, tax, depreciation, and amortisation (EBITDA) of $427.6 million in the nine months to 31 March 2024, the equivalent of $6.18 per care recipient per day, nearly 50% or $2.01 more than for the same period the year prior.
The increase was, in part, due an 11.9% increase in funding related to the Fair Work Commission's wage increases.
To read our article on the QFS results for residential aged care, click here.
To read the Q3FY24 QFS, click here.
