Translating Purpose to Performance – The key to provider sustainability

Mr Bruce Bailey1

1Pride Living Pty Limited, North Sydney, Australia

Abstract:

To thrive a Provider needs to be both viable (profitable in the short term) and sustainable (relevant to all its stakeholders and well governed in the long term).

Governance is the system and processes under which an organisation is controlled, operates and accounts to its stakeholders to ensure viability and sustainability.

Because the short term is easy to monitor and measure Boards often spend significant time in this space. In effect becoming “parallel management teams” reviewing viability and questioning management decision at the expense of ensuring sustainability.

In reality, Boards need to understand and focus on the right risk areas.

We have developed a model to explain the risks faced by Providers. While Boards often focus on the present internal/external issues; quality, finance etc. sustainability requires them to spend more time considering future external and internal issues; customer relevance, climate change deregulation the impact of AI.

While it’s easy to say this, the challenge is to develop a governance model that facilitates this focus.

Pride Living has developed the Aged Care Governance Framework and other governance tools to help Boards get the focus right.

This session will provide delegates with a comprehensive and practical expose on where those charged with governance should place their emphasis. We then move to the “How.”

We will incorporate industry research that clearly demonstrates that Providers who achieve the correct balance actually achieve superior outcomes for residents, staff, investors and their communities.

This presentation presents real-life experiences of the presenter as both an NED and a Consultant to Providers of all sizes and ownership models.

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