Mable is thrilled to be featured in Westpac’s new Smart Industry 2030 Healthcare Report which focuses on how the aged care industry is adapting for the future. Our business is featured as an industry frontrunner, taking ‘progressive and often inspiring approaches to improving the quality of life for older Australians’.
Healthcare 2030 is the second in a series of Smart Industry 2030 reports from the company, which explore next trends, opportunities and challenges across a range of industries.Aged care was chosen as a focus for the series due to the sector’s breadth of impact for all Australians. Louise McCann, National Head of Healthcare at Westpac Commercial Bank said:
“The challenges facing aged care made it an obvious choice for this Smart Industry Report: Healthcare 2030. In part this is because, while the industry confronts growing, onerous pressure to meet demand and deliver high quality care for older Australians, there are some emerging trailblazers in the sector who are also picking up the innovation challenge.”
Reflecting on aged care today
The report provides a snapshot of Australia’s ageing population and the challenges that it presents now and in the future;
- By 2056 an estimated one in four Australians will be aged 65+ and almost two million of them will be older than 85.
- Our older population is diverse, with more than 100,000 older people being from Aboriginal and Torres Strait Islander communities and over 36% born outside of Australia.
- They’re also geographically diverse, with more than 1 in 10 older Australians living in regional, rural and remote communities.
- The aged care sector is already experiencing a critical shortage of workers and is expected to require around one million staff by 2050 to cope with the increase of Australia’s ageing population.
In doing this, it highlights the need to improve aged care information and transparency for consumers – and recognises Mable’s important role in creating a community-based solution to our aged care needs.
The trends changing the face of aged care
Westpac identify a number of trends that will help our aged care industry meet consumer needs. These include the need to facilitate choice and flexibility, harnessing technology to drive transformation, striking the right regulatory balance and looking to global models of care for inspiration.
The report highlights Mable as a thought leader and business leading the way in a number of these areas. In particular it focuses on Mable’s unique ability to create greater consumer choice as it grows and bring communities together to provide solutions to Australia’s home care needs.
Mable, which received the ‘Company to Watch’ award at the 2018 Australian Growth Company Awards, has more than 68,000 people signed up to its website and is recording a compound growth of 10 per cent monthly.”
Since the report was released, Mable has now had more than 80,000 people sign up.
It also highlights the greater choices that Mable provides for care and support workers, while recognising that the impact of this recent power shift from providers to consumers and workers, is still sinking in for many.
“Workers have spent so long not feeling valued,” Scutt says.
“But now that the consumer has the power, workers have options they’ve never had in the past. Platforms like Mable allow them to run a small business and to decide what service to offer.”“Our model brings people together based on mutual choice. That direct connection is not only empowering for both sides, it also generates significant productivity gains.”
You can read a copy of the report in full by downloading it here.
To find out more about how you can take control of your own support and get more hours of care from your Home Care Package.