You have two options for your NDIS funding: self-manage your funds or hire a plan manager. Regardless of which option you go for, it is important to understand your options and weigh all the pros and cons of each so that you can make an informed decision.
If you do decide to go the NDIS plan manager route, read on, because we talk about their importance and how they make NDIS budget management seem like a breeze.
Importance of NDIS Plan Managers
Plan managers play a vital role in the National Disability Insurance Scheme of Australia. They have all the know-how of the industry and experience to back it up. This is precisely why they can help you manage your budget efficiently and make sure all your payments and claims are in order at all times. They not only offer advice but also proactively streamline your funding process to ensure that you never exceed your allocated funds and can make the most out of your NDIS funding.
Let’s find out how they can help maximise your funding with NDIS funding tips!
How Can They Help Maximise Your NDIS Funding?
- They manage your funding.
You can count on the NDIS plan manager you choose to efficiently manage your funding. They are responsible for monitoring your budget and making sure you do not exceed your allotted funds. They also make sure that you pay your providers for their services on time so that you can have a positive relationship with them and all the other people who have your back. You can also rely on them to be trustworthy and transparent concerning your funding, as they provide you with real-time updates at cost-effective prices.
- They provide you with admin support.
In the same vein, plan managers also provide admin support and take care of all your paperwork and bookkeeping. Whether it is making claims or filing paperwork, you can be confident that they will keep all your documentation in order and maintain meticulous records of the same. They also make sure that you are always in compliance with the NDIA norms and regulations. This means that if there is ever a request for an audit, they have all the records of your expenditure, and they can handle the matter expeditiously on your behalf.
- They offer real-time reporting.
While it can sometimes feel like giving up control, getting a plan manager to manage your NDIS funds can be quite empowering. They keep you in the loop regarding your budget and how it’s being used, in addition to educating you throughout the process. Hence, you can expect constant support from your chosen provider as they advocate on your behalf and offer you additional support when needed. They also inform you about the charges for different service providers and give you access to a list of providers that you can choose from. Hence, you will have complete autonomy during the process in addition to making the most of your NDIS funding.
Bottom Line
As mentioned at the start of this blog, while you can always choose to self-manage your funds, it is a good idea to get a plan manager because they are experts in the field and take on all your administrative and financial responsibilities so that you can have peace of mind at all times. Take your time and choose the right NDIS plan manager so that you can get value for your money and maximise the true potential of your NDIS funding.
