Innovation in age services – Overcoming Barriers

Innovation in age services – Overcoming Barriers

The aged care sector and wider age services industry is at a critical stage in its development and now needs to do things differently in order to continue being a vital, viable and trusted part of Australia’s social and economic fabric.

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Hipster grandpa wearing virtual reality glasses

Many people in the age services industry from aged care providers to technology companies are keen to drive innovation and create lasting improvements. However, these have been isolated pockets of success while overall, attempts to innovate at a system-wide level have not been possible.

As a Foundation Partner of innovAGEING, Australia’s innovation network for the age services industry, KPMG set out to understand the innovation challenges and opportunities across the industry.

This report highlights the views from a series of roundtables where industry leaders were encouraged to share their barriers to innovation – and how we can start to overcome them, together.

Five key focus areas for innovation in age services

Enabling innovation in age services

To break through these complexities and get on the road to innovation, the industry must address five key areas:
  1. Set a strategic vision for the industry.
  2. Increase industry connectivity and cooperation.
  3. Align innovation to the needs of older Australians.
  4. Look beyond age services.
  5. Be investment ready.

Innovate age services together

Collectively we must understand why innovation is not a deeply embedded part of the industry’s DNA and then make one or two practical steps forward. In such a complex and important part of our society, this is no longer just about government, aged care providers, regulators or startups. Everyone has a role to play and all parts of the industry must communicate more, collaborate and take joint ownership.

As the ageing population grows over the coming years, we must make long-lasting changes now to underpin the long-term sustainability of the industry and improve the lives of older Australians.

KPMG Australia acknowledges the Traditional Custodians of the land on which we operate, live and gather as employees, and recognise their continuing connection to land, water and community. We pay respect to Elders past, present and emerging.

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