In the latest instalment of Paint by Numbers, Crikey’s new series about the big issues of the day told via the numbers, we lay out the challenge facing Australia’s aged care system.
Yesterday’s report from the federal government’s aged care taskforce illustrated the difficulty of the job ahead:
In 2022-23, the proportion of people aged 65 and over for every 100 people of traditional working age (15 to 64) was: 26.6%
In 2062-63, the same proportion is projected to be: 38.2%
Over the next 40 years, the number of people aged over 80 will triple to: more than 3.5 million people.
Total government spending on aged care in 2021-22: $24.8 billion, or 1.1% of GDP
In 2026-63, the projected proportion of GDP will be: 2.5%
The current number of people using home care: about 1 million
The projected figure by 2042: about 2 million
The projected budget required to build aged care rooms needed by older people in 2050: $37 billion
The investment needed to update and refurbish existing aged care rooms by 2030: $5.5 billion
The investment needed by 2050: $19 billion
Percentage of aged care providers that made an operating loss in 2020-21: 54%
Percentage of aged care providers that made an operating loss in 2021-22: 69%
The proportion of home care providers that reported an operating profit in 2020-21: 74%
The proportion of home care providers that reported an operating profit in 2021-22: 69%
The projected decline in the proportion of people aged over 65 accessing the aged pension and other income supports by 2062-63: 15%
Home ownership rates among people aged over 65 in 2021: 82% (and stable since the mid-1980s)
The proportion of aged care services that met all quality standards requirements in Q2 of 2022-23 (according to the Aged Care Quality and Safety Commission, September 2023): 67%
The proportion of aged care services that met all quality standards requirements in Q1 of 2023-24: 81%
