Ndis Provider’s Guidance to Funding & Plan Management

December 16, 2020by ZEDCARE0
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So, you’ve applied to access the NDIS and have been approved. Congratulations! As an NDIS provider(applied for NDIS registration), we know that the hard part is now over and you can begin your journey to becoming more independent and receiving the supports you need to reach your goals.

Your next step is preparing for your planning meeting to establish the funding and supports for your plan. It is recommended that you head into your planning meeting with a good understanding of what it is you want to achieve and what supports you need to get there.

An important part of your NDIS plan is managing the funding allocated for supports, paying provider invoices, record keeping for auditing purposes and budgeting. This is what is involved with self-managing your plan. But if all this is going straight over your head then don’t worry because you have other options.

Self-managing your plan is just one of the choices available to you. Although this may be suitable for some people, many people choose to work with a Plan Management provider. You can request for plan management to be covered in your plan under the ‘Improved Life Choices’ category.

Here’s everything you need to know about NDIS Plan Management.

How To Manage Your NDIS Plan Funding: NDIS provider’s Guide

As an NDIS participant, you have the choice between three options to manage your funding. During your planning meeting, you will be asked how you’d prefer to manage your plan funds. You can choose to manage it yourself (self-managed), have the NDIA manage it (also referred to as agency managed) or choose a Plan Manager.

When self-managing your plan, it’s important that you understand what supports are funded by the NDIS, are confident in keeping track of your spending and can use the NDIA’s online portal to pay your providers. With this option, the NDIA provides you with the funding to access your supports to allow you flexibility and control. But with self-managing comes a lot of responsibility including full record-keeping, invoicing and communication.

Having the NDIA (often referred to as agency managed) manage your funding on your behalf means you can only use registered service providers to deliver your supports. The NDIA will manage your book-keeping and records of spending on your behalf.

If you would like to be Plan Managed, meaning you appoint a Plan Manager to look after your funding, you simply have to request for this option at your planning meeting. You don’t need to bring documentation or reasoning to support your request for Plan Management, simply ask for it to be included in your plan and the NDIS will supply additional budget to cover this service.

What Is Plan Management?

If you choose to be Plan Managed, your chosen Plan Manager will take care of all the financial administration involved with your NDIS plan. You can maintain choice and control over the providers you use and your Plan Manager will look after the invoices, budgeting, reporting and provide you with personalised recommendations to make the most out of your plan.

In addition to that, your Plan Manager can also negotiate pricing with your service providers, ensuring you are receiving value for money, therefore freeing up more funding within your plan to spend on other supports you may need or want.

If your chosen NDIS provider(applied for NDIS registration) also offers Support Coordination services, and you have allocated budget in your plan for Support Coordination, they can work together with you to ensure you are receiving the right supports for your needs.

Working with Disability Plan Services as your NDIS Plan Management provider is the best of both options as it allows you to remain in control of who you work with but also means you don’t have to worry about the paperwork.

If you are new to the NDIS or are unfamiliar with what services and supports are available to you in your community, the Disability Plan Services team can help to facilitate the best supports for you and provide you with advice that suits your individual needs and goals.

Our team are experienced NDIS Plan Managers and Support Coordinators. We take the time to get to know you and understand your needs so we can make the most out of your funding.

If your NDIS plan still has you scratching your head, give the team at ZedCare Services a call.

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