Budget 2023-24: A Strong Focus on Health

May 10, 2024

The 2023-24 Australian budget has been announced with a range of measures aimed at improving the healthcare system and supporting healthcare workers.

These measures are designed to address shortages, improve access to care, and reduce healthcare costs across the country.

$5.7 billion for General Practice

One of the most significant investments in this budget is the $5.7 billion allocated to general practice over the next five years. This funding aims to tackle the shortage of general practitioners in Australia and improve access to care for patients. This investment will result in more appointments being available each day, and patients will experience shorter wait times for consultations. Additionally, the cost of consultations will be reduced by increasing the Medicare rebate for GP services.

The general practice funding package also includes a 30% increase in the Workforce Incentive Program, which will help to attract more GPs to areas where they are most needed. It also includes a new level E MBS item for consultations lasting 60 minutes or longer, and funding for after-hours care targeted at homeless and culturally and linguistically diverse people. The changes will also increase Medicare rebates by allocating $3.5 billion to expand bulk-billing and provide GPs with more options when treating vulnerable patients.

$11.3 billion for Aged Care

The budget also includes an investment of $11.3 billion for aged care. This investment aims to improve the quality of care for the elderly by increasing the number of nurses and carers per resident. It will also reduce the number of people on waiting lists by increasing the number of beds available and improve the training and development of aged care workers.

The $11.3 billion investment is mainly focused on a 15% pay rise for aged care workers, which will be the largest ever pay increase in the history of the sector. It is estimated that this pay increase will benefit around 250,000 aged care workers across the country, many of whom have been underpaid and undervalued for years.

The investment will also fund the rollout of a new regulatory model and embed new aged care assessment arrangements, as well as increasing the number of home care packages and providing more support for carers.

Summary

Overall, the 2023-24 Australian budget is a significant step towards improving healthcare in Australia and supporting healthcare workers. The measures announced in the budget will help address the challenges facing the healthcare system, and ensure that Australians continue to receive the best possible healthcare.

The government's commitment to improving healthcare in Australia is welcome news for healthcare workers, who have been working tirelessly to provide care to those in need, and the investment in the healthcare system will help them to continue to do so.

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This month we turned 7! It's quite a milestone for us, and for a business started by our Managing Director, Lawrence Eadie, in a sun room in Sydney we've come a long, long way. We're proud of the team we've built at Verus, and with BIG plans on the horizon, we're really excited for what the future holds! If you'd like to be a part of our family then we'd love to hear from you. .

Verus People acknowledges the Traditional Custodians of Country throughout Australia and their connections to land, sea, and community. We pay our respects to their Elders, past and present, and extend that respect to all Aboriginal and Torres Strait Islander peoples today.