We may sound like a broken record – but now is not the time to lose focus on your ACFI.
Although the Department is intending that ACFI cease on 1 October 2022, there are still many reasons to continue to focus on ACFI.
Tell me why!
- There is no change to ACFI funding in the meantime – focus on what you can control.
- An average Facility is missing out on $433,957 per annum.
- The 1 October 2022 transition date may be delayed. The Department have confirmed that it is the intended date, however, it may be impacted by several things, including COVID-19. Given what is happening across Australia right now – we think it’s unlikely that it will run to plan.
- Any time there has been a funding tool transition, funding has dropped for a while before it has rebounded, and with occupancy levels lower than they have been in years – Providers really should not be missing out on any entitled funding or EBITDA will suffer more. Funding missed out on now is funding that could be used to reduce the impact of this transition.
- As confirmed by LASA, in the wake of the 2022-23 Budget announcement, the email communication sent to the sector on Budget night, but not included as a Budget measure, stated that it will ensure no facility will receive less funding in the first 2 years of AN-ACC compared to their current funding. Although we will seek confirmation of this, it highlights the importance of not missing out on any entitled funding.
- The best news? We have been able to adapt the way we do ACFI to also get ready for AN-ACC – so you’re bettering your present and your future all at once.
- There’s really no reason to stop focusing on ACFI – only really good reasons to continue to see it as a priority.
To get some help transitioning your Organisation from ACFI to AN-ACC, talk to us. We have solutions from complementary analysis & education, to full management of your transition.
You can find us at 1300 419 119 or team@providerassist.com.au.
