The National Disability Insurance Scheme (NDIS) provides funding to people with a disability to help them meet their needs and goals. If you’re registered with the NDIS, here are 5 valuable tips to get the most out of your NDIS funding:
1. Know what’s available:
The first step is to familiarise yourself with the types of support and services that the NDIS funds. This will help you to identify the areas where you need support and make the most of your funding.
The NDIS funding is broken into three sections;
- Core: Support your day-to-day needs
- Capital: Higher-cost pieces of assistive technology (including specialist disability accommodation)
- Capacity Building: Social and community participation
Keep in mind:
Core support can be one of the most flexible budgets for achieving a variety of goals and outcomes. By carefully considering what you want to achieve, you can use the remaining funds from one core support category to make purchases under another. For example, by utilising the remaining Consumables funds, you could use them to assist with social, economic, and community participation goals such as volunteering, work experience or learning a new skill.
Utilising core supports flexibly is a great way to use your budget strategically to realise the most significant impact possible on your consumers’ lives.
2. Develop your plan with a Plan Manager:
Once you know what’s available, you can develop your NDIS plan. This plan will outline your goals and the support and services you need to achieve them.
Make sure to involve people who know you well in developing your plan, such as professional plan managers, as they can offer you assistance to achieve the plan that best suits your needs.
Keep in mind:
Plan managers are becoming the go-to option for those with an NDIS plan. Nowadays, it is estimated that more than 54% of people with an NDIS plan choose plan management to help manage their plans and budget. However, plan management is not simply a one-size-fits-all solution. It’s essential to evaluate exactly what services a plan manager offers and whether they can tailor them to meet your needs. Taking some time to research what other plan managers are offering will ensure you find the best fit for your situation.
If you are a plan manager, you can make the most of your client’s funding and results with MYP plan management platform. Our platform provides real-time data with NDIA integration and faster claiming & payment, so you can save time and streamline your workflow. We have also included meaningful insights to help participants get the most out of their NDIS plan measures – maximising their funding and outcome.
MYP plan management platform has everything you need to manage your clients’ funds more effectively.
3. Find providers:
Once you’ve developed your NDIS plan, the next step is to find providers who can deliver the support and services you need. The NDIS website has a directory of registered providers, so start your search there.
You can also ask family and friends for recommendations. If your plan manager is an MYP client, you will have access to our integration with Clickability, a marketplace that connects you with over 3,000 highly rated providers.
Communication with service providers is key to ensuring that you and they are on the same page about all aspects of service delivery. You need to be transparent with service providers, letting them know exactly your needs and expectations.
Make sure they understand everything that needs to be done and how much it will cost. This will help them provide services that accurately meet your needs so that you don’t end up being overcharged for unnecessary expenses or service features.
4. Investing your funds and reviewing your plan:
Once you’ve found some potential providers, it’s essential to compare their quotes before making a decision. Make sure to ask about cancellation fees and extra charges, as this can impact how much value you get for your NDIS funding.
Keep in mind:
If you’re thinking of investing in high-cost items such as assistive technology or home and vehicle modifications using the Capital support funding from your NDIS Plan, the most important thing to remember is to allow plenty of lead time. Delays may be longer than usual due to product and staff shortages around the country, so give yourself enough room to secure quotes, set up installation appointments, and get any necessary purchases squared away.
Allow yourself plenty of time—reaching out early in your plan will layer in an extra safety net.
5. Track and adjust your funds:
After you’ve started using your NDIS funding, it’s essential to review how things are going and make adjustments if needed. This may involve changing providers or modifying your plan. The main thing is ensuring you’re getting the most out of your funding and achieving your goals.
Keep in mind:
Keep track of your spending by saving receipts and keeping track of invoices – this will come in handy when it comes to reviewing or planning meetings down the track.
MYP Client Portal provides real-time information on invoices and expenditures from service providers. The portal even auto-generates a budget report every month so you can always assess where your plan utilisation stands and if any adjustments are needed. Whether you decide to change your providers or make modifications to the schedule of support, monitoring your funding will help ensure that you’re achieving all your goals.
We are here to help
MYP software solutions provide the total package for plan managers, service providers, and support coordinators to help them streamline their workflow and process for client engagement.
Our platform is tailored towards the industry, focusing on simplifying the processes and methodologies of navigating NDIS–related matters. We integrate our platform with both back-end and front-end technologies so that our users can make the most out of their experience. With powerful features such as user management, data protection and assurance, time tracking, automated reminders, detailed reporting analytics and much more. You will have all the tools at your fingertips to enhance your operations and take your business to the next level.