Capital refurbishment fees/ asset replacement fees/ administration fees/ room reinstatement fees - maximising revenue within the confines of the legislation
26 Jul 2016
With changes to ACFI, providers are increasingly looking to novel fee structures and the additional services framework to find ways to maximise revenue. Recent media commentary has sparked renewed interest in additional fees such as capital refurbishment fees, asset replacement fees, administration fees, room reinstatement fees and various other new types of fees for residential aged care.
We have received a large number of enquiries about these types of fees and whether they are compliant with the Aged Care Act and Principles. There is uncertainty in the industry about the types of fees that can be charged to residents and how these novel fee structures might operate in practice.
If you would like advice about these types of fees, whether they are compliant, and how the additional services framework may assist with maximising revenue (including what you can and cannot charge for additional services), please contact Julie McStay, Director and head of aged care and retirement living at Hynes Legal.