Cost considerations of doing business with the NDIS
Having decided to be a service provider under the NDIS there are a number of financial decisions that need to be made. Your commercial viability and your participant’s experience are linked.
Now that participants have choice and control over which provider and services they select, it is up to the service providers to maintain a quality service and to be financially sustainable.
There are costs associated with starting a business or becoming a sole trader within the NDIS. You need to consider these operational costs:
Accounting fees
Advertising and Marketing
Audit fees
Compliance system and administration
Insurance
The most critical of these activities is meeting the Audit and NDIS Quality and Safeguarding Framework (QSF) requirements. Without verification or certification approval you are not able to operate.
All registered providers must demonstrate they meet the following requirements applicable to the services and supports they deliver:
comply with the conditions of registration and the NDIS Practice Standards
comply with the NDIS Code of Conduct and support workers to comply too
have an in-house complaints management and resolution system, and support participants to make a complaint
have an in-house incident management system, and notify the NDIS Commission of reportable incidents
ensure all workers are screened through a worker screening process
meet new behaviour support requirements (if applicable), including reporting restrictive practices to the NDIS Commission.
It is a lot to consider and manage, especially when you are working hard to provide care and support for our most vulnerable people in our community.
Centro ASSIST can take the hassle and anxiety away from meeting the QSF with our compliance management platform. Find the right product for your organisation today.
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