4 Growth Opportunities for NDIS Providers
As long as you have the necessary skills to make the most of the opportunities, the NDIS is filled with exciting business opportunities.
Why Is NDIS Compliance Important for Service Providers?
NDIS compliance is critical for your business. If you don’t, you’ll get letters of violation or other enforcement measures, which could result in your business being shut down entirely if mistakes are left unattended for too long.
Ensuring compliance isn’t about penalising NDIS service providers; it’s about guaranteeing precautions are in place when dealing with individuals with disabilities, according to the NDIS Compliance and Enforcement Policy.
When dealing with a large number of vulnerable people, businesses must adhere to best practices in order to achieve that their clients’ life values and dignity are recognized and protected at all times. Furthermore, having solid risk mitigation measures in place is critical.
If you’re considering pursuing an NDIS business opportunity, you must be proactive in terms of compliance.
- Starting an NDIS Provider Business Locally
Every major company began on a small scale. The process of creating an NDIS company that provides localised individual assistance and care is the ideal NDIS business possibility.
The idea of starting your business this way will mean you begin to learn how to be aware of NDIS members’ needs and help them reach their goals in life.
But, it’s also about you competing in a rapidly growing market where hundreds of new companies open each year. It is the reason you should be aware of your competitive edge.
With the help of Local Area Coordination (LAC) offices and the certified expertise of a particular support area covered by the NDIS, setting up an enterprise that is local to you will not be difficult.
- Expanding Your Existing Health Services
If you’re already an owner of a business, it’s crucial to know how you can grow or change your business to gain a share from the NDIS market.
Making improvements to the services your company already offers to meet the needs of individuals who are disabled can allow you to diversify your services and grow your business.
Although it pays off to concentrate solely on the NDIS, it is possible to incorporate specific supports in addition to healthcare services for those without disabilities.
- Focusing on Specialised NDIS Supports (Niche)
There is a huge opportunity for businesses in disability-related health support.
These special supports include the following:
- Diabetic management
- Pressure care and wound care
Concentrating on one or one or more of these areas could bring you high-value businesses through specific health services, which certain NDIS participants will require more than others.
This is especially appealing when your business already provides similar services for people with disabilities, as it makes it simpler to adapt while still retaining your primary capabilities.
- Offering Business Consulting to NDIS Providers
Although they’re happy to tackle an entirely new challenge, the majority of NDIS employees aren’t entrepreneurs by nature. A majority have a medical background.
This is why they are likely to seek out help with:
- Management of business
- Procedures and policies
- The ability to use software
- Legal issues
… as well as other subjects related to business.
While everything may require a few adjustments to accommodate NDIS requirements, if your company of choice already provides some of these services, it’s worth giving it a go.
Fronto Advisory Does It All!
Changing the lives of others is what your business is about. Helping your business succeed is what Fronto Advisory are about. Save time, unnecessary headaches, and money by working with a team who is familiar with all NDIS policies and procedures in Australia. Fronto Advisory has assisted businesses in transitioning from sole traders to larger, more lucrative businesses.
Call them today or fill out a form and receive a call back.