Aim To determine the number and type of wounds and their treatment costs (consumables and labour) in Australian hospitals, residential aged care facilities (RACFs), general practices (GPs) and community, and to provide evidence to inform reimbursement of wound treatment costs for all Australians. Method Data from 21,189 clients with 49,234 wounds treated by a community care provider in Western Australia, Queensland and South Australia during the financial year 2020/2021 were used to determine the mean and median costs (consumables and labour) to treat wounds. Surveys involving skin inspections and medical record audits were conducted amongst consenting adults over 18 years old in a sample of Australian hospitals, RACFs and GPs. A sample of community clients’ data for wounds treated on one day in June 2021 comprised the fourth cohort used in this analysis. The costs to treat all wounds surveyed between 14 December 2020 and 17 October 2021 in the four cohorts were modelled against the community care provider’s data for 2020/2021 (49,234 wounds). Results There were 2,505 individuals with 3,096 wounds. The estimated cost to treat all wounds was A$1,621,768 using the mean costs of the community care provider as a basis, and A$692,144 using the median costs of the community care provider as a basis. Costs for all wound types were determined. Conclusion The cost of treating wounds in Australia was determined and is anticipated to inform a review of equitable reimbursement of wound treatment costs for Australians with wounds.