Asset Management for Aged Care and Retirement Village Operators: Meeting the Standards

As the aged care population continues to grow, ensuring that residents feel safe and comfortable in their living environment is a top priority. In fact, as part of an Aged Care facility’s Accreditation, Quality Standard 4, requires that all residents feel safe and comfortable in the organisation’s environment. Furthermore, to meet the requirements of Accreditation, furniture, fittings, and equipment must be safe, clean, well-maintained, and suitable for the resident.

At Reduxo, we understand the importance of these standards and work closely with aged care and retirement village operators to ensure their assets meet the requirements of the Quality Standards and Code of Conduct for Aged Care.

Asset Planning and Maintenance

As part of the Quality Standards, aged care facilities must assess and plan their assets, including their location, suitability, and regular maintenance. This is an essential component of ensuring residents have access to safe, well-maintained assets that promote comfort and independence.

We work with aged care and retirement village operators to develop comprehensive asset registers as an accurate base for asset management plans that consider the unique needs of their residents. This includes identifying all assets, their location, and condition. This information is then utilised for planning for their replacement or upgrade as necessary. By taking a proactive approach to asset management, we help operators ensure that their assets are always in good working order, reducing downtime and increasing resident satisfaction.

Asset Tracking and Reporting

In addition to planning and maintenance, accurate asset tracking and reporting are critical for meeting the Quality Standards and Code of Conduct for Aged Care. This includes maintaining an asset register and tracking all maintenance and repairs for assets over a certain value, as required by the Retirement Villages Act in New South Wales.

Using advanced asset tracking technologies, we are able to help operators maintain accurate records of their assets, including location, condition, and management of additions, disposals and transfers. This information is essential for planning and budgeting, as well as reporting to regulatory bodies and meeting the requirements of Accreditation.

Conclusion

Effective asset management is critical to meeting the Quality Standards and Code of Conduct for Aged Care. Our team work closely with aged care and retirement village operators to ensure their assets meet the highest standards of safety, maintenance, and suitability.