Sustainable ACFI funding is critical for Aged Care Organisations to maintain Remarkable standards in care and to achieve desired business outcomes. The good news is that with the appropriate education, tools and support, all organisations have the potential to improve this critical income stream.
When we work with Aged Care organisations, we find that many are simply not receiving the funding they are entitled to. Even more alarming, many facilities are not even aware of this shortfall in funding.
It is our collective goal to help organisations, like yours, receive your entitled funding so you are able to provide residents with the care, dignity & respect they deserve. The first step is being able to detect whether your residents are receiving their entitled ACFI income.
So how do you know if you may be falling short in ACFI funding?
We’ve created this handy checklist of the signs of a high performing ACFI function.
If even one of these criteria are not being met, you are most likely missing out on funding and a facility-wide funding analysis should be completed.
- Your pure ACFI Income per resident per day is in alignment or exceeds the industry average AIP $151 or HC $173
- Your claiming profile for high level claims in ADL domain sits between industry average of 46- 66% or exceeds this
- Your claiming profile for high level claims in the behaviour domain sits between the industry average of 55- 65% or exceeds
- Your claiming profile for high level claims in the CHC domain sits between the industry average of 49- 61% or exceeds this
- Your ACFI claiming profile has no Nils in CHC or ADL
- Your resident mix that is receiving 3, 4a or 4b is in alignment with Chronic pain statistics involving at least 75% of residents in residential aged care
- Your approach to completing ACFI assessments is holistic and is based on what the resident needs are – determined through diagnosis, physical and cognitive function – rather than what the staff are saying they are currently doing for the residents.
- Your voluntary reappraisals which are over 2 years since last appraisal (excluding HHH) are less than 10%
- Your default residents excluding new admissions are 0
- Your facility has dedicated ACFI hours
- Your facility has achieved the above and you are holding at least 90% of claims at validation
How is your facility doing?
Remember – Even if only one of these criteria are not being met, you are most likely missing out on funding and a facility-wide funding analysis should be completed.
Without access to the correct data, you cannot measure your facility’s true performance.
Our MyVitals reporting system can give you the data you need, your organisation can start tracking current and potential income today. It’s 100% free.