Building A Successful NDIS Provider Business: Things To Consider
Written by: Amanda Wilkens l Accounting Team
Setting up a National Disability Insurance Agency (NDIS) Provider business can be an exciting and rewarding endeavour.
It offers an invaluable opportunity to support and enhance the lives of individuals with disabilities. However, there are various important factors to consider when embarking on this journey. In this article, we will explore key aspects that can contribute to a successful NDIS provider business.
To establish a thriving NDIS provider business, it is important to have a comprehensive understanding of the NDIS and the body that runs the scheme – the NDIA (National Disability Insurance Agency). Familiarise yourself with the scheme’s policies, procedures, and regulations. The NDIS website has some clear guidance and states –
“The NDIS funds reasonable and necessary supports and services that relate to a person’s disability to help them achieve their goals. ‘Reasonable’ means the support is most appropriately funded or provided through the NDIS. And ‘necessary’ means something a person needs that is related to their disability. Reasonable and necessary are at the core of the service that you will provide.”
Want to know more of what reasonable and necessary means when it comes to the NDIS? Check out this previous blog we’ve put together: What Actually Is Reasonable and Necessary?
Steps for Building Success:
- Identify Your Niche
Consider finding a niche within the NDIS market that aligns with your passions, skills, and expertise.
Identifying a specific area of specialisation can help you differentiate your business and better cater to the needs of your clients. Whether it’s in-home support, occupational therapy, or assistive technology, choosing your niche wisely can lead to greater success.
- Develop a Solid Business Plan
Crafting a well-thought-out business plan is crucial for any venture, including an NDIS provider business.
Outline your goals, target market, financial projections, and marketing strategies. A robust business plan will serve as a roadmap, guiding you through the initial stages and beyond.
Want to know more about setting up a business? Check out this previous blog we’ve put together: Setting Up A Business: A (Legal) Checklist
- Build Strong Networks
Establishing professional networks with stakeholders, such as disability support organisations, other providers, and advocacy groups, can bring invaluable benefits. These connections can provide referrals, collaboration opportunities, and the chance to stay updated on industry developments.
- Consider Becoming a Registered NDIS Provider
To be registered as an NDIS Provider you need to apply to the NDIS Quality and Safeguards Commission.
They will audit your business against the NDIS practice standards and after successful assessment you will receive a certificate of registration. There is a cost to this process and as I write this article, it is not mandatory to be registered, but the current Government review conducted by Bill Shorten indicates that this is being considered.
Want to know more about being a registered NDIS Provider? Check out this previous blog we’ve put together: NDIS Registered -VS- Unregistered Providers… What’s The Difference?
- Recruit + Train Competent Team Members
Your team (if you have one) is the backbone of your NDIS provider business.
Hiring and training competent, compassionate, and highly skilled individuals is essential. Ensure they possess the necessary qualifications, certifications, and relevant experience to meet the needs of your clients. Building a supportive and inclusive work culture contributes to the success of your NDIS provider business. Encourage teamwork, professional development opportunities, and open communication. By fostering a positive work environment, you will enhance staff morale and, in turn, provide better support to your clients. Ensure that you are up to date with the relevant Fair Work award that dictates the rates of payment.
- Embrace Innovative Technologies
Technology plays a pivotal role in enhancing service delivery and client experiences.
Embrace innovative technologies, such as cloud-based management systems, assistive devices, and telehealth services, to streamline operations and offer improved support. Stay up to date with emerging tech trends to stay ahead of the curve.
- Prioritise Quality + Continuous Improvement
Strive for continuous improvement by adopting quality management systems and processes suitable for an NDIS provider business.
Conduct regular evaluations, seek feedback from clients, and constantly refine your services to ensure you’re providing the highest level of care possible.
You can learn more about what it means to be a ‘good’ NDIS provider in our blog outlining; What Makes A Good NDIS Provider?
- Marketing + Branding for your NDIS Business
Effectively marketing your NDIS provider business is crucial for attracting clients.
Create a compelling brand identity and develop a robust marketing strategy. Utilise online platforms, such as social media channels and a professionally designed website, to showcase your services and engage with your target audience.
- Navigate the NDIS Portal
Familiarise yourself with the NDIS provider portal to manage participant registrations, claims, and service bookings effectively.
Clear communication with participants, prompt responses to inquiries, and efficient handling of paperwork are key to maintaining good standing within the NDIS.
- Align Yourself with an NDIS Plan Manager… Like Canny Plan Management
To ensure that you are paid promptly and accurately for your services, having a participant being plan managed can alleviate the stress and worry of being paid correctly.
- Legal Advice: Terms + Conditions
Be very careful to get good advice on, amongst other things, the terms and conditions on your website or any advertising that you do, your service agreements, privacy statements and employment agreements (if applicable) to mention only a few. This is a necessary investment to make sure that you are well set up from the beginning.
Want to know more about the complexities and importance of Terms and Conditions? Check out this previous blog we’ve put together: Terms + Conditions.
- Running Your NDIS Provider Business
To get quality accounting advice in this specialised space is essential.
Consideration needs to be given to the structure that you will operate in, whether it is as a sole-trader, company, partnership or trust. Your accountant should discuss the GST rules around providing participant supports and invoicing correctly. Familiarise yourself with the NDIS Pricing Arrangements and Price Limits to ensure that you are billing within the rules and that you are providing supports catered for in the NDIS Participant’s plan.
Canny Accounting + Your NDIS Provider Business
Setting up an NDIS provider business is a significant undertaking, but with careful consideration and proper planning, it can be an incredibly rewarding endeavour.
By taking the time to understand the NDIS, finding your niche, developing a solid business plan, building networks, and prioritising quality and continuous improvement, you can lay a strong foundation for success. Remember, your goal is not just to provide services to individuals with disabilities but to make a positive impact on their lives. So, go out there, have fun, and create a business that makes a difference!
Canny Accounting has been working with NDIS Providers since inception of the scheme in 2020 and has become a specialist in accounting advice in this sector. Canny Insight provides affordable business legal services to NDIS providers and will set your mind at ease by making sure that you have covered off on everything that is needed.
Get in touch with our team of excellent Accountants and NDIS Plan Managers to help guide you to a successful NDIS Provider Business.
