KJ
Basically let us say there are 3 stages in aging:-
[1] Retirement
[2] 'Aged care' - used to be nursing care and leading to [3]
[3] Long term hospital care

[1] Retirment - retirement villages privately funded - a niche property play.

[2] 'Aged care' - with the signalled abolition of asset testing Govt will be the main funder - trusts will be less relevant for those who have use them to ring fence their estate. The aged care provider will feel the full force of the Govt 'capped budget' concept. To minimise 'profitering' the Govt will probably bar the provider from charging the client over and above the Govt 'subsidy', that is to say the funding is deemed to be full payment for the care. This capped budget takes no notice of any increase in costs (most of them are because of Govt's policies in other areas, like holiday pay!). All these will lead to erosion of profits, services and standards.

[3] Just a progression from [2] except more costly to run.

OK this is a growth sector requiring many thousands of beds in the not too distant future, but who wants to provide the beds if there is no meaningful margins.
Be that as it may 'aged care' is an essential part of the health system. Just maybe it is 'too hard' for the private sector.
Lots to think about and one day I may be a client!

disc: not a holder