The NSW Government has announced that it will fund an app to compare retirement village fees. KPMG will receive $128,000 to develop the app, which will need to be user-friendly for prospective residents who may have varying levels of financial understanding.
The comparison tool aims to make it easier for prospective residents, their friends and family to compare and understand retirement village fees and charges. Comparing retirement village costs by village contracts has typically been confusing and difficult to assess, mainly because retirement villages use a wide range of fees and charges with different timings.
The NSW Minister for Innovation & Better Regulation, Victor Dominello, said retirees would benefit from the app by making informed decisions. “Retirement village fees are often complex and confusing, but increasing transparency in the marketplace will help reduce the burden for retirees by allowing them to compare administrative fees and charges before signing a contract,” he said.
KPMG will rely on retirement village residents, village operators and stakeholder organisations to gain an understanding of the retirement village sector, and the different fees and charges used. The app is expected to be completed by December.
The move to digital
The announcement of the app highlights the importance of digital for retirees and the aged care industry as a whole. Research firm, McCrindle, referred to this trend as the “Great Screen Age” during Leaders Summit 2016, an aged care conference in Sydney.
At the conference, McCrindle shared results from past and present McCrindle Baynes Villages Census Reports, which looked at how residents and their children make their decisions about aged care, and where they go for information. The research found that aged Australians are dependent on the Internet and expect similar levels of availability as other utilities, such as electricity and gas.
Aged care workers are also reliant on technology to help them provide a high level of service to residents. As the number of aged Australian continues to grow and the number of aged care workers continues to shrink, technology will play an even bigger role at facilities.
Boost your connectivity
Aged care facilities can meet the needs of both residents and workers with fast and reliable technology infrastructure. BTAS Connect can bring fast fibre-powered WAN and Internet powered to your village, while BTAS Network is end-to-end network management for peace of mind.
Symmetric connectivity of BTAS Connect means uploads are equally fast as downloads, so you’ll be able to add high quality video content to the web within minutes. High speed broadband also means you don’t need to worry about the reliability of your file transfers or the availability of the Internet.
BTAS Network is designed to not only manage your network, but also secure it. Our Network Operations Centre (NOC) will proactively monitor your network, ensuring you remained focused on running your village and not distracted by the running of technology.