The Australian Parliament passed the Aged Care Bill earlier this week, which gives the aged care industry some much-needed certainty that the new Aged Care Act will take effect on 1 July 2025. However, some key issues remain unresolved.
Aged care and other health businesses are experiencing a wave of reforms leaving many carefully considering their futures – including whether to sell. But how do you get the best sale price with the lowest stress and risk exposure? Here are our top tips.
With significant regulatory and funding changes across the health sector, M&A interest is on the rise. But how do you secure a great growth opportunity and avoid the “lemons”? Here are our top tips.
Proposed changes to NDIS funding have the potential to reshape the NDIS service landscape across Australia, and many providers may need to substantially change their service model to continue receiving NDIS funding.
Most organisations capture personal information about their customers as part of their everyday operations. But do they all need a privacy policy? The short answer is that only some businesses are legally required to have a privacy policy, but many others choose to have one anyway because there are many potential benefits in having one – including more sales!
The beginning of a new year is a useful time to step back and decide what should be done differently to achieve better outcomes in your aged care facility. As aged care lawyers, we see a lot of risk and liability issues arising from the same root cause – unsatisfactory residential care contracts, housed within an unsatisfactory contracts management system. If you own or manage a facility, you already know that residential care contracts should be regularly reviewed and updated to reflect changes in law, changes in the facility, and as part of a continuous improvement strategy – but, it can be hard to know where to start. To us, your review should always begin by finding the answer to these essential questions.
It is no exaggeration to say that poor cash flow kills businesses every day. Businesses that go on to survive and thrive have a number of strategies in place to ensure that they are increasing sales and collecting payments on time. One of the best strategies is having a great standard contract in place that makes it easier to collect payments on time and imposes consequences on bad debtors.
Read on to learn more about contract terms that smart businesses use to protect their cash flow:
A ‘terms of trade’ is a legal document setting out the terms on which the business will provide goods or services. Having a well written terms of trade is one of the most important investments you will ever make in your business. It can benefit your business in many ways, including by helping your business: get paid more money; get paid on time; reduce the risk of getting sued; and develop stronger and better relationships with customers.
Read on to find out more about what terms of trade are and why your business needs one.
Members of the Australian Retirement Village Residents Association, Retirement Living Council and Property Council of Australia have prepared and released an action plan to improve standards of…
