Accommodation payment plans in residential aged care: The impact of consumer choice

Olukorede Abiona*, Serena Yu, Mike Woods, Kees van Gool

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

3 Citations (Scopus)

Abstract

Objective: To examine changes in accommodation payments to residential aged care facilities following the introduction of consumer choice reforms in 2014. These reforms have allowed residents to choose between making lump sum refundable deposits and/or rental-style payments.

Methods: Quantitative analysis was undertaken for facility-level quarterly data of 136 separate facilities, which were operated by six providers over the period under study.

Results: While the total pool of payments has grown strongly, consumers have increasingly favoured rental-style payments over lump sum refundable deposits.

Conclusion: Consumer choice has changed the landscape of accommodation payment receipts in the provision of residential aged care services. Greater understanding is needed on how consumer preferences impact on the financial risk borne by providers and their ability to invest in future capacity.

Original languageEnglish
Pages (from-to)e103-e109
Number of pages7
JournalAustralasian Journal on Ageing
Volume39
Issue number1
DOIs
Publication statusPublished - 1 Mar 2020
Externally publishedYes

Keywords

  • old age homes
  • pensions
  • socioeconomic factors

Fingerprint

Dive into the research topics of 'Accommodation payment plans in residential aged care: The impact of consumer choice'. Together they form a unique fingerprint.

Cite this