The Link Between Quality Care and Financial Success for Your NDIS Business
The Financial Squeeze on NDIS Service Providers
The data doesn't make for pleasant reading: in 2022, almost one in four NDIS provider organisations reported operating at a loss. Only 46% of NDIS providers made a profit.
Among NDIS provider organisations, there's widespread pessimism over the direction of the Australian economy, in addition to labour shortages and fatigue over regulatory changes. And perhaps most worryingly of all, 59% of NDIS providers agree with the statement "We are worried we won’t be able to provide NDIS services at current prices".
It's no surprise that some businesses are wondering if growing their NDIS business needs to come at the cost of disability support quality. With concerns over the future of disability support services, providers can feel unable to invest in better service delivery.
Quality Care Leads to Financial Success
Although the data seems bleak, the reality on the ground leaves more room for optimism. By focusing on quality, you’ll find it easier to attract clients, reduce costs and achieve financial sustainability.
Quality supports are efficient supports. Your team will be able to spend less time on resolving issues caused by poor-quality service delivery, and more time on supporting a greater number of clients.
As your clients notice the benefits of high support quality, they are more likely to renew their contract and even recommend you to others. You’ll find it’s easier to grow your client base.
Your support workers will also feel more fulfilled, which will add up to fewer resignations, reduced training and hiring costs, and greater organisational know-how.
How to Achieve Financial Sustainability While Improving Care Quality
With the right strategies, you'll find you're able to not just ensure compliance with the NDIS practice standards and prepare for the NDIS audit, but also be well-positioned to improve your financial sustainability.
Invest in Software to Optimise Your Processes
Technology can transform your business by increasing efficiency, facilitating compliance with NDIS practice standards and enabling more personalised supports. Software designed for NDIS plan management can be particularly useful for disability support providers.
Take the time to explore all your software’s features; this will help you get the most out of it. Use this knowledge to develop quality-focused processes for everything from documentation to service delivery. You’ll discover that the right system will help you improve quality and your organisation’s bottom line at the same time.
Roster More Efficiently
For NDIS provider organisations, rostering can be a time-consuming — and often headache-inducing — process. There’s lots to consider: worker qualifications, client needs and preferences, schedule availability, location and much more.
There are two aspects to efficient rostering, and both of them benefit you and your clients. First, by setting up a system that allows you to roster quickly, you’ll see dramatic time savings that can be invested in staff training, client updates, marketing and other important tasks. For maximum efficiency, make sure your rostering process supports recurring rosters, group rosters and assigning multiple clients to individual workers’ shifts.
Secondly, aim to build rosters that reduce travel time and related expenses, while also creating minimum shifts of a reasonable length. Group geographically clustered clients together, and check the per-client and per-worker views of your roster to confirm they’re efficient. Your operational expenses will be reduced, your staff will be less stressed and as a result, your clients will receive a better quality of care.
Monitor Clients Funds
Effectively managing funds will allow you to support NDIS participants and your business alike. With better funds management, you’ll be able to help NDIS participants receive all the services they’re entitled to under their plan with the National Disability Insurance Scheme.
You’ll also benefit from a more stable monthly income, as funding projections ensure you’re never surprised by a participant running out of funds. If your projections highlight a potential issue, you can raise it with the client and find a solution before it interrupts service delivery.
Improve Your Recruitment and Retainment Strategies
83% of disability support providers struggle to recruit competent staff, forcing them to turn down requests for services. Labour shortages can be costly, both in terms of lost opportunities and the time you spend recruiting and training new team members.
Having trained and talented staff leads to an improved service delivery, as well as less work for your managers. Plus, NDIS participants will appreciate having greater stability, as they receive supports from the same team members every week.
By creating a worker-friendly system along with processes for efficient hiring and onboarding, you’ll improve your recruitment and retainment rates. To remain a competitive employer, ensure you offer flexible schedules and support your staff in their professional development. Look for software that facilitates internal communications.
Grow Your NDIS Business While Prioritising Quality Disability Supports
Quality disability support doesn't have to come at the price of financial sustainability. Your NDIS provider organisation can benefit from systems that simultaneously reduce your costs, improve your cash flow and ensure service delivery of the highest possible quality.
You’ll be able to provide personalised, empathetic supports that enable people with disabilities to achieve their goals, be active within their community and live fulfilling lives. You’ll also create systems that allow your business to thrive financially.
ShiftCare’s aged care and disability support software helps you optimise the administrative and operational side of running an NDIS provider organisation. You’ll be able to roster efficiently, bulk invoice the NDIS, manage care documentation and more. And since you can reduce the time spent on paperwork by up to 90%, you and your team will be able to focus on what really matters: providing exceptional disability support.
Discover how the right system can help you provide quality care while achieving financial success. Try ShiftCare for free.