Insights agency, Faster Horses has just released its 2nd edition of the Inside Aged Care Report. With offices in Sydney, Canberra and Perth, the agency is highly connected to the industry. The report provides comparative data with 2018, pre commencement of the Royal Commission. It therefore provides the only pre and post comparison of national sentiment towards the aged care industry.
The Inside Aged Care Report taps into critical issues that are certain to be of interest not only to organisations operating in the aged care industry, but also to federal and state governments, consumers and their families.
Organisations can leverage the data to build their services, staff training programs, marketing position and promotional materials in a way that aligns to their strengths, and marketplace needs.
The report boasts a robust sample of 1,547 people across Australia. It reveals that only 20% of Australians trust the industry. That’s a low 1 in 5 people! This is statistically unchanged from 2018’s 18%. However, there are some interesting changes across different demographic groups.
Trust is lower among those aged 60+
Of concern, those aged 60+ years showed a significantly decreased level of trust, moving from 17% in 2018 to only 12% in 2019. As the cohort about to move into receiving care, this has significant implications for the industry.
This high degree of mistrust leads this group to have the highest agreement level that the government should focus on ensuring that people can age in their own homes (82% agreement compared with 69% in the broader population). In fact, the report also shows declining levels of consideration for any type of care.
Trust has improved among families
Families of those receiving care have always been relatively more positive than the broader population, and those about to receive care. In 2018, 25% of families had trust in the industry. This has improved significantly in 2019, to 34%. It is interesting to note that the perspective of families differs from those on the verge of needing care.
This raises numerous questions:
- What do families and those about to require care feel about levels of care?
- What services are in demand across the near future, and indeed into the next 10 years?
- What services have increased in demand and which have declined?
- How should aged care providers manage their budgets moving forward to cater to changes in demand?
- How does the market view levels of funding provided by the government?
- How should the government respond to changing sentiment?
- How does the market view perceptions of the pricing models widely used in the industry?
Leading Age Services Australia (LASA) CEO Sean Rooney said “This report contains valuable insights that show that despite upward trends in some areas, as a sector we need to do better.”
“This is why we need to work with government, stakeholders and the community to realise better outcomes for all older Australians.”
“Inside Aged Care is another tool to help the sector deliver better services and care that older Australians need and deserve.”
The full report is available now, with a presentation of a selection of the key metrics being delivered at the LASA National Congress between 27 and 29 October 2019.