Federal Minister for Aged Care, Anika Wells, mentioned in her speech at the Economic and Social Outlook Conference on 2 November 2022 that there will be an influx of baby boomers entering the aged care system over the next 20 years. This influx could amount to an increase of 75% of older Australians in the sector.
The Australian Bureau of Statistics (ABS, 2021) has projected there will be a 140% increase in people aged between 85-99 from 2021-2041.
Many baby boomers want to live independently at home, however there could be as many as 350,000 seniors looking to access nursing homes over the next twenty years.
Two thirds of residential aged care facilities are running at a loss (StewartBrown, 2022), and this influx could see struggling facilities not able to cope.
Anika Wells has a positive outlook on the situation, with plans to continue making significant changes in the industry.
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