By Faith Your journey to become an NDIS provider starts with registration. While there is no registration fee that needs to be submitted for an NDIS provider registration application, there are other costs involved in the process. Therefore, understanding the NDIS registration cost is important.
Starting from audit expenses and consultancy fees to potential service delivery costs—learn about it all below. We’ll also help you with tips to minimise expenses while ensuring you stay compliant.
Explore the Key NDIS Registration Expenses
If you talk about the primary NDIS registration cost elements, the following are worth considering:
Quality Audit Expenses
When registering for NDIS, know that the potential providers have to undergo compulsory quality audits. These are necessary to ensure that a provider adheres to all the required NDIS standards. However, depending on the service support one offers, verification or certification audit is applicable.
For low-risk support services, a verification audit is required, and for high-risk support services, a certification audit is required.
- Verification Audit Costs: $900 – $1,500.
- Certification Audit Costs: May cost more than $3,000
The audit costs can vary based on the size and complexity of your services and locations.
Insurance Costs
Before even starting the NDIS operations, service providers must make arrangements for tough situations by opting for business insurance coverage. It can include insurance cover for:
- Theft
- Product Liability
- Workers’ Compensation Insurance
- Professional Indemnity Insurance
NDIS Insurance Costs: $600 to $3,000, depending on the NDIS business size
Compliance Consultation Costs
The NDIS online registration application does not involve any costs. However, before registering, service providers must complete appropriate policy framing and the necessary paperwork. Nevertheless, that may require you to hire professional NDIS consultancy services, which have a price. Many potential providers do it to enhance the chances of approval, as consultants help gather documentation and craft policies that match NDIS standards and provider services.
- Policy Making and Documentation Fees: $2,000 to $4,000
- Consultation Costs: $2,000 to $10,000 or more, depending on the assistance complexities.
Note: For NDIS registration, the first step is to make an online application. The question is, is there an NDIS registration cost associated with it? The answer is no. You can apply for NDIS registration for free via the NDIS Commission portal.
Discover the Additional Costs Involved After Becoming An NDIS Provider
Now that you know the overall NDIS registration cost, the following additional expenses may appear once you become an NDIS provider. However, having sufficient prior knowledge about them can help you prepare financially:
Marketing Expenses
Do you want to improve your online presence amongst the target participant base? You may have to market your services as an NDIS provider by hiring SEO experts or professional website designers. You may also have to opt for online advertising costs. Thus, depending on your marketing campaign, you will incur this cost.
Software and System Costs
Many NDIS providers install essential licensed software and systems. These technologies help manage the clients, invoicing and scheduling requirements. Several providers also use digital record management software for complete compliance.
Costs can range from $30 to $500 per month, depending on the software package.
Staffing Expenditures
Staffing directly impacts the quality of service offered by the provider to the participant. It is an important part of your NDIS business. Thus, when you calculate added costs, you cannot miss out on expenses like hiring and conducting background checks. You may also incur induction or training expenses, depending on the staff qualifications. Additionally, all staff working with participants must also have an NDIS Worker Screening Check.
- NDIS Training: up to $500 per person
- Police Check: $50 or more
- NDIS Worker Screening Check: $80 – $150 per person
Office Rental and Supplies Expenses
If a service provider is renting an office space, the costs may range from $150 per week to $1000 per week, depending on the area and location. Similarly, basic office supplies and equipment like computers also come with a cost.
If you are wondering whether any hidden costs are associated with becoming an NDIS provider, know that there are several additional costs as mentioned here. If one does not account for this, it can lead to unexpected financial surprises.
How NDIS Providers Can Minimise The Costs Involved: Key Tips
Are you experiencing high expenses as an NDIS service provider? Use the following tips to bring them down:
● Use Government Resources
Often, the National Disability Insurance Agency calls key disability-related services to be a part of their grant programs. Use this opportunity to access a wide range of government resources.
● Stay Updated with NDIS Guidelines
The NDIS sector is dynamic. Thus, it is vital for service providers to update themselves on the latest rules. It helps reduce unnecessary delays and penalties, and also helps reduce costs.
● Automate the Administration Process
When it comes to NDIS service provider operations, there are several administrative tasks, like billing or reporting. These can be streamlined through automation to reduce labour costs and ensure efficient operations.
Conclusion
When looking forward to reducing your NDIS registration cost, service providers must familiarise themselves with the relevant expenses. Whether it is audit, documentation, or compliance expenditures, each of them adds to the registration cost. Seeking help from professional consultants can help reduce these costs. So, go ahead and consult experts today!