Take some
new measures. Benchmark your income data against the 2008 national averages HERE

Now in its 15th year, the Bentleys 2009 National Aged Care Financial Survey provides aged care services with the tools to assess and compare operating costs and identify those areas in which they can improve performance.

Aged care services are facing unprecedented change in the current operating environment. Increasing pressure on financial performance, changes to government funding models, escalating costs and growing demand for aged care mean that services today need to understand their business's cost and profit drivers in detail in order to optimise their performance.

Through an online registration and data capture system, participants in the Bentleys 2009 National Aged Care Financial Survey have provided data across a range of operational, staffing and financial aspects, including:

• General purpose financial report information;
• Ownership type;
• Accommodation bonds data;
• Accreditation status;
• Detailed profit & loss data;
• Operating income data;
• Staff hours and wages;
• Building and occupancy information;
• Resident statistics; and
• Carbon management practices.

A 'Balance Sheet Health Check' has been conducted using 2007-2008 and 2008-2009 General Purpose Financial Report information. This data provides analysis on a range of financial indicators, including:

• Liquidity and Solvency;
• Gearing;
• Accommodation Bonds;
• Financial Performance; and
• Capital Investment.

The ratio analysis provided through this information builds upon the 2006 CAP Ratio Analysis (conducted by Bentleys in conjunction with the Department of Health and Ageing). It provides a top-line assessment of a service's financial health compared to others. It also provides a snapshot of performance across the industry and acts as a financial 'barometer' for services.

Following this analysis Electronic Benchmarking and Averages Reports have been prepared. Averages have been calculated from the aggregate data.

As a financial tool, the survey data has far-reaching application for participants, including:

• Comparison on a state and national level: Services can assess their performance against the average for their state, and for the nation. These averages are further broken down to give services more specific comparisons.
• Benchmarking: Benchmarking reports (containing de-identified data) is provided to allow services to compare individual items to those of other (non-identified) services of similar size, type, location and resident mix.
• Budgets: In addition to providing comparisons and benchmarking, the data can be integrated into Financial Management Reports for boards and committees and to formulate future budgeting. Data is reported as a per resident per day (PRPD) figure, so budget forecasts can be created based on differing resident levels.
• Support for development funding applications and finance approvals: Through demonstrating a service's performance against industry averages, reports can be used to support funding and finance applications.
• Comparisons within aged care groups: For organisations with more than one service, the survey data provides useful information for drawing comparisons across individual sites, across regional locations, and across states. This allows management to identify financial cost drivers, and may assist in negotiations with suppliers or service providers.