Residential Aged Care Pricing Advice 2023–24
Date published: 26 May 2023
The Independent Health and Aged Care Pricing Authority (IHACPA) will provide annual residential aged care pricing advice to the Commonwealth Government, commencing 1 July 2023, for each coming financial year.
IHACPA’s expanded role in providing independent aged care pricing advice will aim to ensure that aged care funding, including through the new classification system for residential aged care and respite care, the Australian National Aged Care Classification (AN-ACC), is directly informed by the actual costs of delivering care.
The Department of Health and Aged Care will remain the system operators with overall responsibility for aged care policy, including the funding of aged care services.
Residential aged care pricing advice is developed in consultation with aged care stakeholders through IHACPA’s annual public consultation process.
The Residential Aged Care Pricing Advice Technical Specifications 2023–24 are an accompaniment to the Residential Aged Care Pricing Advice 2023–24. It details the methodology used by IHACPA to develop the 2023–24 pricing advice.