Adapting to a new landscape to ensure a sustainable future
As the sector prepares for National Disability Insurance Scheme (NDIS), the significance of such transition cannot be overstated. The NDIS will shift purchasing power and put the money and decision-making capability in the hands of the consumer. Providers will need to learn how to thrive and adapt in a more commercial landscape.
BDO is working with a number of not-for-profit organisations and disability service provider organisations to prepare for the scheme with well-defined transformational strategies.
What do you mean by being NDIS ready?
Disability providers need to closely consider their operations now to prepare for the NDIS roll out from 2016. While it will take several years for the scheme to be fully implemented, the organisations that initiate new processes and invest in the right technology from the very beginning will be the ones that survive – and thrive.
The fact is that operations that don’t adapt to the new system simply won’t be able to compete in the market. The combination of a highly competitive landscape for specific disability services and the end of some grant and block funded programs that providers previously relied heavily will mean new cash flow challenges for the unprepared.
What areas of operation will be impacted by the NDIS?
The changes will significantly alter the way many not-for-profits carry out disability services and will impact all facets of their organisation.
- Operating strategy
- Financial performance
- Service funding levels
- IT systems
- Invoicing and reporting requirements
- Marketing and communications
- Employee resourcing
- Client service.
Over time the sector will see more formal partnerships and increased merger and acquisition activity across the sector.
What should you do to get NDIS ready?
Get some expert help. Given the complexity of the NDIS transition and drastic impact the change will have on the sector, providers need to account for all market changes and interdependencies. We’ll work together to find solutions to questions like:
- Are your systems ready to handle new invoicing and reporting requirements?
- How will you manage employee training and the impact of new responsibilities on your staff?
- What’s the impact on your business if you transition to new markets following the NDIS roll out?
- How will you calculate and assess the differences in revenue income streams?
BDO’s dedicated team can help set you up for success with the NDIS. Get in touch to find out how we can help.Register your appointment with our NDIS specialist.