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Lyndoch Living is very pleased to inform the community that its program of change is on track to ensure that 2024 will be a year of success, building on our 3 year commitment to establishing a foundation of sustainability. Despite difficult times Lyndoch Living has remained focused on a solid change strategy to:
Lyndoch Living continues to have its residential aged care facilities fully compliant to the aged care and quality standards and is proud to report the increase in clinical skilled staff who are attracted to the renewed Lyndoch. Lyndoch is pleased to inform our residents, families and the community that Jill Hallinan will commence this month as Director of Nursing. Jill comes with exceptional experience having been in a leadership role at South West Health. In addition, Lyndoch will commence a new Nurse Practitioner model that will enhance the clinical care of our residents. Maggie How Ely’s skills as a Nurse Practitioner is well known to health professionals and the community.
The big news is that the financial status of Lyndoch Living has taken a significant upwards turn towards financial health with consistent monthly operating surpluses between July to November 2023, a situation that has not existed for a very long time.
Jill Davidson, Acting Chief Executive Officer explained that “the dedication of staff to building sustainable efficiency and developing new ways of working has led to a surplus of $3m in the first 6 months of the financial year at the end of November 2023. This has been attributed to optimization of all revenue streams, reduction of corporate non-clinical costs and enhancement of food menus all within a context of maintaining clinical services with continuing investment at the point of care to be our goal.
Ms Sue Cassidy, Board Chair said that “the Board are exceptionally pleased with the dedicated attention and hard work that has made this financial result possible, she further explained that “the turnaround was not the result of capital injection from sale of assets but from the implementation of sustainable operating efficiencies”.
Ms. Cassidy added “the poor 2022-23 financial year result, details of which will be released in the coming weeks, was impacted by the write-down of some assets which was necessary to provide a clear transparent financial foundation to build Lyndoch’s future upon.”
Ms Davidson explained she had previously reported that the viability of aged care facilities, particularly in rural areas is very challenging and requires a strong commitment to expenditure in clinical services and a reduction of expenditure in non-clinical activity. “I would like to add that quality outcomes require a strong sustainable financial base as it is inextricably linked to ongoing training and education as well as best practice equipment and effective and efficient IT systems”.
Ms Cassidy further stated “that we now look forward to a successful and sustainable future as we move through 2024 with confidence that we can preserve the legacy of Lyndoch Living and work closely with our volunteers, community members and other health service providers”.
