Australian aged care providers accused of ‘crying poor’ to lobby for government funding

Data showing 70% of aged care providers are running deficits is not a reliable reflection of the industry’s financial performance, an analyst says. Photograph: Carly Earl/The Guardian

Australia’s aged care industry has been accused of misleading the public about its finances, with analysis revealing one of Australia’s biggest providers recorded significant earnings and acquisitions last financial year, despite reporting a loss.

The sector has pointed to data from accounting firm StewartBrown showing 70% of providers are running deficits to lobby for more federal funding, but industry analysts say it is an unreliable reflection of the sector’s financial performance.