RSL LifeCare records a $3.7million surplus, driving greater support for veterans and seniors

RSL LifeCare has announced a $3.7 million surplus for the 2024 financial year, marking unprecedented growth in support for veterans and their families, alongside exceptional care services for seniors.

RSL LifeCare CEO, Janet Muir, presented the results at the organisation’s Annual General Meeting in Sydney, highlighting a remarkable $60 million turnaround following a challenging period of COVID, workforce shortages, rising costs and legislative reforms.

In the 2024 financial year, RSL LifeCare funded more than $12.6 million worth of initiatives supporting veterans, their families and seniors. Key highlights included:

• Opening a fifth Veteran and Family Hub on the NSW Central Coast to support over 12,000 local veterans and their families, with four additional hubs in Maitland, Queanbeyan, Hawkesbury and the North Coast under development.
• Providing financial assistance to more than 350 veterans, totalling $359,392, a 26% increase.
• Supporting over 100 veterans through the Spur Ranch Equine Program, with a 20% growth in courses and participation.
• Delivering 4,900 nights of safe accommodation for homeless veterans.
• Providing compassionate care to 3,400 residents, including 1,379 respite and 1,983 permanent care residents.
• Achieving an industry-leading 90% retention rate in the RSL LifeCare Graduate Registered Nurse Program.
• Reaching an 84.1% Customer Satisfaction (CSAT) score this year, the highest combined score across all service units.
• Improving Star Ratings, evaluated using the Department of Health and Aged Care’s Star Rating System, from 3.46 to 3.61, with 17 residential care sites rated 4 stars.

“Our financial turnaround has been no accident – it has been driven by a strong governance framework, effective costs management, and the embedment of a strategic purpose as a cornerstone of all decision-making,” said Ms. Muir.

“I thank our skilled and compassionate teams, and supportive communities for helping us exceed expectations in delivering exceptional care for veterans and seniors,” said Ms. Muir.

RSL LifeCare also continues its advocacy with Government on the new Aged Care Act and the Royal Commission into Defence and Veteran Suicide, supporting better outcomes for seniors and veterans and their families now and into the future.

During the AGM, the Board acknowledged the retirement of Director Hugh Fitzsimmons after two years of dedicated service to RSL LifeCare, and welcomed Dr Glen Farrow OAM, a former Australian Army Medical Officer, surgeon and healthcare executive, to its ranks.

“Hugh’s dedication and wealth of experience and skill have been invaluable, and I thank him for his unwavering commitment. I also extend a warm welcome to Glen as we tackle new opportunities and challenges for the benefit of veterans and seniors,” said RSL LifeCare Chairperson, Sangeeta Venkatesan.

The RSL LifeCare 2024 Annual Report can be accessed here: https://rsllifecare.org.au/latest-news/publications/