Last week we had the pleasure of Simon Miller visiting our offices for a wide ranging discussion on the future of retirement living (as well as aged care).
The full story was covered in the last issue of SATURDAY (subscribe HERE).
The EX CEO and Senior Partner of Boston Consulting Group identifies that products and services delivered by ‘traditional’ operators like Anglicare will not cut it with Baby Boomers who are ‘different’. They won’t accept and buy today’s product within five years.
The clock is ticking.
He also says that Anglicare Sydney has to revisit land lease communities as a business model.
But in particular, he is intrigued by private aged care, the business models of LDK, Odyssey, and Horizons, which deliver care up to the palliative level but under the Retirement Village Act, with the in-care resident effectively paying for their accommodation and they top up expenses. Simon likened it to private school fees.
In effect, he envisages a user pays continuum of care delivering Baby Boomers the choice and standards they want, and are willing to pay for.
His challenge is to be able to provide these levels of service to all levels of wealth.
Given his change management background, expect to see his new thinking put into effect fast if Anglicare is going to be ready within 60 months.
