Finance - Wellways

Wellways reported a surplus for the financial year of $6.7M from revenue of $201M. Net assets increased to $23.3M in 2024 from $16.6 million in 2023.

The new Fleet Strategy has been implemented in line with Our Goal 4 around Ethical and Sustainable Growth to increase financial performance while reducing Wellways’ carbon footprint measurably.

In close collaboration with the Assets Team, a new way of implementing Lived Experience Leadership has been embraced across the establishment of the six Wellways-led Mental Health and Wellbeing Locals. The design for a model of care and building fit-out was led by Lived Experience Advisors, showing how we can work in the future.

Wellways Annual Financial Statement (30 June 2024)

Continue Exploring

Continue exploring more of the highlights from across the business in the 2023-24 Annual Review.

Overview

Over the past year, Wellways has embraced opportunities, formed new partnerships, and worked to become an even better service provider, more desirable employer, and louder advocate.

Lived Experience

2024 marks the year lived experience was elevated to Board level at Wellways. Find out more about the sector-first Lived and Living Experience Authority from our two Co-Chairs.

Reconciliation

Reconciliation is everyone's business at Wellways. We are proud to share that our Reconciliation Action Innovate Plan has been approved, and our Stretch RAP has been submitted.

People and Culture

Valuable feedback from Wellways employees highlights strong engagement and a deep connection to their work. Over the past twelve months, we have also completed some important training and become more inclusive.

Mental Health Reform

Wellways expanded its reach in mental health support across multiple states, achieving new milestones in service delivery and workforce development aligned with national and state mental health reform.

Services

Our services are now available in more locations than ever before. We also lead new service models, such as the Medicare Mental Health Centres, and have significantly expanded our suicide prevention work.

Carer Gateway

Wellways has extended its Carer Services and explored new ways to connect with carers, while expanding and deepening our partnerships with other providers.