By 2040 there will be over 5 million people aged over 70 in Australia. An additional 400,000 carers for the aged care sector will be needed by 2040, as well as an extra $57 billion in capex across the health and ageing sectors.
With the announcement of the Royal Commission into Aged Care Quality and Standards, following on from over 20 reviews in two decades, we clearly have challenges to address: the quality of care provided to older Australians and those living with a disability in aged care; the changing demographics, including meeting the needs of those in remote, rural and regional Australia; the increasing number of Australians suffering dementia with heightened levels of care needs; the need to attract, retain, develop and reward a “workforce of the future”; and questions on financial sustainability of the sector as it aspires to deliver better quality outcomes to all.
Rather than just focus on the challenges, we see “Healthy Ageing” as an opportunity.
There is social good for each of us, our families and our communities in supporting this vitally important sector, and giving older Australians the respectful and decent care they deserve. There are also clear benefits to economic productivity, job creation and as an export opportunity, in particular in Asia which is also facing similar challenges of an ageing population on a massive scale.
PwC’s experience in working with clients responding to the Financial Services Royal Commission, combined with our experience in Aged Care, means we are well placed to support our clients in ensuring the trust of the communities in which they operate, and to help meet the high standards we all expect of the sector.
We work with Australia’s health & aged care organisations as they transform their organisations to put residents, customers, and patients at the centre of their services.
We combine business and strategy, award-winning solutions powered by Salesforce, and our experience in aged care to improve non-clinical services and quality of care control which will enable customer-led growth.
National Health & Wellbeing Lead Partner, PwC Australia
Tel: +61 2 8266 5091
National Health & Wellbeing Consulting Lead Partner, PwC Australia
Tel: +61 2 8266 0990
Partner, PwC Australia
Tel: +61 2 6271 3021