Company Name: Aged Care Software System By GSO Care Pty Ltd
Announcement Date: 22/07/2020
Negotiating the curve - profitability, productivity and funding maximisation
I write not of the Clint Eastwood movie of the same name, nor Covid 19. I write of the downward trend of operating results in the aged care industry over the last year. The Stewart Brown Pty Ltd Aged Care Financial Performance March 2020 Survey Sector Report1 identifies a disturbing trend across the entire spectrum.
Many providers are restructuring. Most place increasing pressure on the ACFI appraisal team to maximise funding. Many are attempting to squeeze care hours whilst remaining compliant. Quality teams are scrambling at some considerable expense to meet government guidelines regarding mandatory audits. Yet the curve is still troubling.
When addressing a complex set of issues, the six thinking hats of Edward de Bono offer a way forward. The status quo is failing, therefore it is time for lateral thinking and a new fresh perspective.
GSO Care’s six thinking hats:
1. Make each aged care bed is its own cost centre.
Which is more profitable, a $150 per day bed or a $200 per day bed? Only by recording each bed as its own cost centre can one know.
2. Appraise each resident for increased care needs at least quarterly.
By assessing residents more frequently, it is possible to increase ACFI funding by 7% and more, depending upon the frequency.
3. Effectively communicate with family members to reduce complaints
The cost to a provider of each family member complaint may be incalculable. Consider brand damage, adverse media attention, loss of trust and diversion of resources.
4. Automate ACFI appraisals and mandatory audits.
Automating the process will reduce wages considerably, by over 80%.
5. Increase staff productivity without increasing the workload.
Provide carers and other staff with tools to minimise down time like shift hand overs, allowing a greater percentage of the shift hours for care giving.
6. Invert document focused systems to event focused.
Intelligent event driven automation enables hats 1, 2, 3 ,4 and 5.
At GSO Care, negotiating the curve is what we do. GSO Care Aged Care Software - Profitability, productivity and funding maximisation.
For further information, please visit our web site www.gsocare.com or call +61 418 389 143
About Aged Care Software System By GSO Care Pty Ltd:
GSO Care - an Aged Care Software System delivering effectiveness and efficiency, resulting in highly individualised care and preserved profitability for aged care providers.
Go to Company Profile for: Aged Care Software System By GSO Care Pty Ltd
Announcement Contact: [email protected]