You may have heard about National Disability Insurance Scheme (NDIS), but what exactly do you need to know as a Private Practice Owner?
The NDIS is landmark social and economic reform based on providing a complete support solution for participants living with a significant disability. Participants will now have a more significant role in choosing their goals of what they wish to achieve and how their support services are organised. Additionally, they will have greater choice and control over their health care package funding under the Individual Funding Packages.
There are 7 steps to help you become NDIS ready!
Firstly, to register with NDIS as a practitioner, you will need to sign up for a PRODA (Provider Digital Account) through the NDIS website. You can then create a MyPlace account and complete an intent to register with NDIS. While it is not essential for all health professionals to register for NDIS, it will be necessary if you choose to become an NDIS provider or assist with their Plan Management services.
DECIDE ON YOUR SERVICES & OFFERING
The key to making the most out of NDIS depends largely on your choice of service category that will be offered to your clients. So how does this work for you?
Essentially, you will only be able to charge the rate set out in the NDIS price guide which establishes the maximum price. If the rate quoted is above the benchmark, specific approval can be requested from NDIS.
The rate varies greatly depending on category and is additionally determined based on:
- If the client falls into the low, standard or high-intensity needs category
- The service category which has been chosen
- Your qualifications
With lower consultation rates and increased administration costs to consider, the NDIS will encourage Private Practice owners to become savvier about their service offerings, operational costs, marketing and workforce planning to ensure viability. NDIS works similar to a market style system, so marketing and networking will also become more important as you will need to build and strengthen relationships with service providers, support services, community providers and potential clients.
BANK DETAILS READY
As part of the registration process, NDIS MyPlace will request your business bank details so you can receive payment. It’s important to keep all your documentation up to date within the portal so that you can keep track of all your financials accurately.
If you haven’t had a look at your resume in a while, it might be worth refreshing. Part of the NDIS payment rate depends not only the service category that has been chosen but also on your qualifications. Ensure all your professional registration details and resume information is up to date.
WORKING WITH CHILDREN SCREEN
As part of NDIS best practice and procedures they will require a Working with Children Check (WWCC). The WWCC is a policy and legislation that provides for the screening of adults who work or volunteer in child-related businesses and is an essential strategy for creating and maintaining child-safety. The application process varies, and it is valid for a period of 2-5 years depending on the state.
Public liability insurance is not only a necessary part of registering for NDIS, but it’s an essential component of any Private Practice. It is designed to protect your business from third-party compensation claims resulting from personal injury or property damage as a result of your business activities. It’s always wise to get several quotes from public liability insurance companies to obtain the best package. Additionally, check with your local relevant associations or leading bodies as they often provide significant discounts and cost savings with insurance as part of their membership.
A pre-requisite for any business operating in Australia is applying for and obtaining an ABN (Australian Business Number). An ABN is a unique identifier for your business to the government and community and is an integral part of registering for NDIS. ABN’s can be obtained free of charge from the Business Registration Service Beta https://register.business.gov.au/
You will also need to decide on your trading name and a business structure for your Private Practice, choosing between a sole trader, company, partnership or trust. Additionally, as a business owner, it will be your responsibility to register for GST if your turnover is greater than $75,000. It important to recognise that these decisions concerning your business setup and structure will directly impact on how you operate your business, your tax and financials.