The ongoing amendments and reviews of the NDIS scheme can make it difficult and confusing at times to stay up to speed. Operational risks have been exacerbated by COVID-19 and competition from other community care sectors; 65% of providers who shared their experience during the Annual Market Survey said that operating conditions had worsened in 2021.
Many providers had been finding it increasingly difficult to recruit and retain frontline disability support workers and 70% of providers reported problems recruiting disability support workers.
Organisations offering disability services encounter a variety of risks including:
- Ineffective implementation of NDIS (National Disability Insurance Scheme) change management
- Insufficiency of staff, malfunctioning IT (Information Technology) systems
- Inability to retain current clients or attract new ones
- Retention of staff (especially given their relationships with participants)
- Reduction of revenue (clients are unable to obtain funds, competitor steals your market share)
The risks are threatening to any provider but can be managed with the right guidance and in the presence of a comprehensive Risk Management Plan. The advice of an experienced adviser can help you identify overt and hidden risks and develop management strategies for each challenge as it arises. Creating and maintaining a Risk Management Plan is not hard, but it must be thorough and reviewed continuously.
In times of emergency, having a good Risk Management Plan serves as a portion of the solution to the problems your business may encounter. A significant paradigm shift has occurred within the sector, and it is imperative that you are prepared for the upcoming changes with your risk management policies and procedures.
NDS in collaboration with the Victorian Managed Insurance Authority and the Victorian Department of Health & Human Services, developed several resources to support strong risk management. The resources have been designed to meet the needs of small, medium, and large disability service providers. While these resources were last updated in 2012, NDS members have indicated that they are still relevant in today’s environment. You can access the free resources here: https://www.nds.org.au/resources/risk-management
Centro ASSIST customers also have access to an integrated Risk Management feature. Here, you can identify risks and conduct risk assessments, create controls with the aim of mitigating risks, and retain proof you are managing risks with system documentation.
Contact us today to schedule a free demo of this Risk Management feature.