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Service Integrated Housing Village Service Overlay and Funding Model

Service Integrated Housing Village Service Overlay and Funding Model. Interactive Workshop. “Service Integrated Housing”. What is a SIH Program? A planned provision of care services to accommodation clients. Increased care in a variety of situations (as required). Why has this come about?

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Service Integrated Housing Village Service Overlay and Funding Model

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  1. Service Integrated HousingVillage Service Overlay and Funding Model Interactive Workshop

  2. “Service Integrated Housing” • What is a SIH Program? • A planned provision of care services to accommodation clients. • Increased care in a variety of situations (as required). • Why has this come about? • Government reforms • Market demand for “ageing-in-place” • What settings will it occur in? • Co-located aged care and retirement villages • Stand-alone retirement villages • Satellite retirement villages

  3. “Service Integrated Housing” • What are the components of SIH? • Day-to-day delivery of care and other services • The types of activities/participants involved will depend on the needs of residents • What are the RESIDENT benefits of SIH? • Improved emotional, social, cognitive, physical and sensory wellbeing • Builds a stronger sense of community and engagement • Provides a true ageing-in-place continuum

  4. Program Service Types • Domestic services, housekeeping and cleaning • Personal care, bathing, dressing and grooming • Meal assistance and preparation • Nutritional planning • Medication monitoring • Transport and assistance to appointments • Wellness and exercising programs • Visiting friends and relatives • Pet care (e.g. dog walking)  • Shopping and bill paying assistance  • Social outings including support and assistance at family functions  • Care coordination • Special occasion care

  5. “Service Integrated Housing” SIH represents a fundamental shift from an accommodation model to a CARE model

  6. “Service Integrated Housing” What are the differences? • Accommodation Model • Sales proposition = “independence”, “lifestyle” • No underlying provision for future care needs as residents age • Future care may need to be outsourced (e.g. fee for service) • Likelihood for earlier resident relocation due to higher care needs • Care Model • Sales proposition = “care”, “wellbeing” • Aligned with mission objectives and organisational philosophy • Resident care needs are met throughout the ageing process • Cost of care delivery for resident front and back ended

  7. “Service Integrated Housing” What are the OPERATOR benefits? • Care Model • In-house program provides “control” of service delivery • Builds a strong bond with the residents • Justification for Deferred Management Fees • Bridges gap between ILUs and residential aged care • Financially viable business case

  8. Service Integrated Housing (“SIH”) • Two delivery examples 1) On-site care • Live on site carer • After hours carer support from other sites or call centre • Forego 1 unit • Uplift in entry prices/DMF • Suited to medium to large villages

  9. Service Integrated Housing (“SIH”) • Two delivery examples 2)“Hub & spoke” model • Live off site • Care delivered from central hub • Uplift in prices/DMF • Caters for smaller satellite sites with limited community facilities

  10. Service Integrated Housing (“SIH”) Benefits • Resident access to care is not totally reliant on government funding • No limit/regulation to growth of care delivery Costs • Administration, staffing and delivery management • Consumables • Upfront negative cash flow • Length of stay risk

  11. Financial Benefit • Co-located RACF, ALUs, ILUs • 8-12% uplift in ILU entry contributions • Improved sales rates • Economies of scale • Service Integrated Housing • Potential increase in sales rates • Entry contributions between 5-10% higher • DMF percentages > 50% with higher front end weighting • Justification for capital gain retention • Shorter length of stay

  12. Financial Risks • Capital Cost • Minimum 2-3 FTE carers • Potential unit give-up • Administration and management • OH & S and other related costs • Capital budget to cover start up and ramp up period

  13. A “Typical” Pricing Model Base assumptions

  14. A “Typical” Pricing Model DMF Structures

  15. A “Typical” Pricing Model

  16. Base Vs Base + Carer DMF Structures Carer cost per unit

  17. Base Vs Base + Carer Diminished Returns

  18. Base Vs + Carer Scenarios DMF Structures

  19. Base Vs + Carer Scenarios Similar returns Improved returns

  20. Impact of Length of Stay DMF Structures

  21. Length of Stay on Base Marginal change

  22. Length of Stay on ↑ 5% (40%) Larger impact

  23. Service Integrated Housing (“SIH”) • Business case considerations • Staffing requirements • Qualifications/skills, non-English languages, ongoing training • Hourly rates need to be market tested – weekend/overnight rates • Staffing/service productivity statement • Benefits of any brokerage services • Capital cost and ramp up • potential “cost of carry” during start-up phase

  24. Changes in Thinking Summary Committed to providing care and wellbeing services into retirement accommodation Live-in or rostered carer Hub & spoke model – satellite villages Increased front and back-end payments

  25. Questions/Discussion ?

  26. premierconsulting.com.au

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