How Many Times Will You Need to Revise a Consumer’s Budget?
That depends on the following factors:
Government Funding including Subsidies & Supplements
Revised annually from 1 July.
This will affect the government subsidies & supplements income and also impact the Administration, Case Management & Contingency you charge as they are calculated on the total income.
Daily Care Fee
Pension changes occur twice yearly, March & September
This will affect the amount you charge if based on a percentage of the basic rate of the single aged pension. Even if you charge a flat daily fee, you may increase this in line with the Age Pension increases as long as you don’t exceed the maximum daily rate.
Income Tested Fees
Assessed by the government on a quarterly basis
Any variations to this fee will impact the amount you charge the consumer and the government funding you receive based on the consumer’s assessed package level.
Administration, Case Management & Contingency charges
As these calculations are based on total income, they will change every time the total income changes.
This can impact the consumer’s budget many times depending on how often the consumer wants to change their services.
This is reviewed on an individual consumer basis.
HOW CAN OUR TECHNOLOGY HELP?
Care Collaborator updates the government funding rates in the system so all you have to do is open a consumer’s Home Care Agreement and their individualised budget will have updated the calculations related to total income.
This will update:
The daily care fee if you have the calculation based on a percentage
The administration charge (calculation based on total income)
The case management charge (calculation based on total income); and
The contingency charge (calculation based on total income)
Adjustments made to the Income Tested Fee & Service provision will be made on an individual consumer basis as these changes occur.
Care Collaborator ensures you are using the most up to date funding and pension rates in the consumer’s individualised budget calculation, providing you with the comfort that all the income and expenditure is correct and providing the consumer with the comfort that they have adequate funds to provide the care and services they need.