Home for Life Commitment
Public & Private Fees
The gap between Private and Public fees
▪ Part of our charitable mission is to provide a “Home for Life” commitment to our residents ▪ Private fee payers undergo a financial assessment prior to admission to verify they have sufficient funds to meet fees for (generally) two years ▪ When a resident’s wealth declines so they can no longer afford the private fee rate, they will move across on to a publicly funded rate ▪ We never ask a resident to leave on financial grounds – only if we can no longer safely meet their care needs.
1695
1000 1200 1400 1600 1800
1563
1397
1240
1190
1,183
1142
1016
0 200 400 600 800
958
842
Private
Publically funded
% differential between Public & Private Fees
▪ Each home has a resident mix KPI that they work to.
10% 15% 20% 25% 30% 35% 40% 45% 50%
43.3%
41.3%
37.5%
36.9%
▪ The consolidated KPI equates to publicly funded residents making up approximately 25% of the total.
29.4%
▪ This 25% includes Home for Life residents.
▪ Each home manages this by changing the mix of publicly and privately funded residents admitted to the home.
0% 5%
% Differential between public and private fees
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