How will the initial Home Care Funding changes impact your Cashflow?
In Feb 2021 Home Care Providers won’t receive a funding payment due to the system moving from “Payments in Advance” to “Payments in Arrears”.
Do you know how much this will impact your cashflow and when?
In Dec 2020 – your will receive your Dec 2020 & Jan 2021 payments as is usually the case due to the Christmas period.
In Jan 2021 – no payment as received in advance in Dec 2020.
In Feb 2021 – no payment due to moving to “Payment in Arrears”.
In Mar 2021 – receive a payment based on the number of consumers you have as at the end of Feb 2021 etc. This payment will continue to be based on the Level 1 to Level 4 funding model until Sep 2021 when it changes to re-imbursement of consumer expenditure.
Impact to your cashflow – if you usually receive $100K per month, you will be short $100K in Feb 2021 meaning you will have to have enough cash to fund this.
Impact on your consumers – None.
Care Collaborator is cloud based software and very easy to set up, no matter how big or small your business, allowing you to start using it straight away.
We set you up and provide easy online training as soon as you’re ready to go.
By automating the on-boarding process your care managers can continue to focus on the consumer, making it a positive experience for both parties.
If you are interested in discussing, please contact Debra Ward via the Care Collaborator web page: www.carecollaborator.com.au or
Email - firstname.lastname@example.org or Call on 0438 020 728.