21 May 2021

Aged care reforms revealed

This Budget foreshadows significant change for the aged care sector. The Government has announced a $17.7 billion package that also contains serious reforms in response to the recommendations of the Royal Commission into Aged Care Quality and Safety (Royal Commission). These reforms are intended to provide greater choice for residents, more competition among providers and greater accountability for the quality of care. We expect many aged care providers, and related industries, will see opportunities for growth or divestment as the regulatory landscape evolves over the next 5 years. For some providers, increased regulatory burden or scrutiny may motivate consolidation or exit from the sector; for others, there may be opportunities to expand and collaborate.

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