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.
Kinny Legal has been recognised as one of Australia’s top boutique law firms in the 2024 Top Boutique Firms report.
The final report from the Royal Commission into Aged Care Quality and Safety (Final Report) was tabled on 1 March 2021, and contains significant and sweeping proposals for reform of the aged care sector. This is the third of a series of articles by Kinny Legal examining what these proposed reforms are and how they might change the industry if implemented.
The final report from the Royal Commission into Aged Care Quality and Safety (Final Report) was tabled on 1 March 2021, and contains significant and sweeping proposals for reform of the aged care sector. This is the second of a series of articles by Kinny Legal examining what these proposed reforms are and how they might change the industry if implemented.
The final report from the Royal Commission into Aged Care Quality and Safety (Final Report) was released 1 March 2021, and contains significant and sweeping proposals for reform of the aged care sector. This is the first of a series of articles Kinny Legal will release in the coming weeks to examine what these proposed reforms are and how they might change the industry if implemented.
Respecting a consumer’s dignity of risk is a key concept in Standard 1 of the Aged Care Quality Standards. Meeting this requirement is not as simple as blindly letting the consumer take whatever risks they want. Aged care providers must take certain precautions to ensure the request is well informed and properly understood. Aged care providers also have several other obligations including to provide a safe environment and meet the duty of care owed to the consumer, staff and others, which must be balanced against any requested by a consumer. This guideline is designed to help aged care providers get the balance right and avoid unintended breaches.
Aged care providers have been granted a statutory grace period in relation to certain registered provider requirements – allowing them to provide services that could otherwise only be provided by registered NDIS providers. This grace period was scheduled to end on 30 June 2020 but has been recently extended to 30 November 2020. So, what does this mean for your organisation?
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.
We understand that aged care organisations often operate under significant time and resourcing pressure, and this is often contributed to by inefficient administrative processes in key areas such as resident contract management.
We also understand that aged care organisations operate in a continually changing regulatory environment, so it can be difficult to keep track of whether residential care contracts are top-quality and up to date.
We are also strong believers in making things easier for aged care organisations, which is why we have collaborated with Mirus Australia to offer a smart solution to these common problems.
With the aging population of Australia continuing its rapid growth, the demand for products, services, and accommodation that caters to these communities is increasing.
This trend presents tremendous opportunities for investors, and overseas organisations are increasingly interested in exploring business opportunities in the seniors market. But, the legislation regulating this market is complex and it can be difficult to identify which industry is most suitable. Different sectors are subject to different legal requirements and present different asset and profit opportunities.
The industries with arguably the greatest potential for commercial success are the Retirement Villages industry and Aged Care industry. While both industries are primed to provide enormous investment opportunities to overseas investors, it is essential that any individual or organisation contemplating investment understand the key features of each industry. Not only are they very different in how their products, services, and accommodation are designed and marketed to the seniors community, each industry is regulated with vastly different sets of legal rights and obligations which can impact an organisations ability take full advantage of the opportunities arising in this market.
This article outlines the key features that overseas investors should be aware of when first considering whether to you invest in the Retirement Villages or Aged Care industries in Australia.
