Residential Aged Care Supplementary Pricing Advice 2023–24
Date published: 27 September 2024
The Independent Health and Aged Care Pricing Authority (IHACPA) provides annual residential aged care pricing advice to the Australian Government.
IHACPA’s residential aged care pricing advice ensures that the Australian National Aged Care Classification funding model is directly informed by the costs of delivering care.
The Residential Aged Care Pricing Advice 2023–24 was published on 26 May 2023.
Following the National Minimum Wage Order 2023, issued by the Fair Work Commission on 20 June 2023, IHACPA received a request from the Minister for Health and Aged Care on 3 August 2023 for the development of supplementary pricing advice.
As a result, the Residential Aged Care Supplementary Pricing Advice 2023–24 updates the recommended residential aged care price and the estimated gap between hotel revenue and costs.
The Residential Aged Care Supplementary Pricing Advice 2023–24 Technical Specifications is a document published alongside the pricing advice. It details the method used to develop the pricing advice.