Lumary Launches Plan Management Tool, Lumary PM
An obvious, but critical, aspect of the successful implementation of the National Disability Insurance Scheme (NDIS) is the financial management of funds. With over 20,000 registered providers, and numerous ways in which plans can be managed, this area of the NDIS is not an easy one to navigate – add to this the fact that the implementation of these plans can include activities like budgeting, contracting, payment auditing and bookkeeping, it is easy to see why additional inefficiencies would easily crop up.
As was recently reported in the 30 June 2019 COAG Disability Reform Council Quarterly Report, 34% of NDIS participants are choosing Plan Managers to manage their plan. This means that it’s becoming increasingly important that the technology used in this sector assists with the efficient and successful rollout of these services. As the Plan Management sector continues to grow, it increased 15% between the period March 2017 and December 2018, the opportunity for businesses to utilise technology in order to scale is what is going to set those apart.
Lumary, a company that creates software management solutions for the NDIS, recently launched Lumary PM, a product developed for Plan Managers or Agencies that are facilitating Plan Management. This solution significantly reduces the administrative burden on plan managers, by facilitating with real time claim validation against NDIS rules, claiming via the NDIS portal and providing payments and remittances. The software enables a Plan Manager to focus on participant support while increasing the number of participants that can be effectively managed by an individual Plan Manager to well over 100, which currently is not possible with alternative software offerings in the market today.
Joseph Mercorella, CEO Lumary, is making this a priority in the business due to the expected growth, as well as understanding how this has a greater play in the NDIS. “Plan Management systems that can create efficiencies within a business, is what’s going to allow small plan management businesses to really scale, as well as those on a larger scale to take on more participants while reducing administrative overheads.”
“Additionally, we made our product cost effective as its subscription based and the cost is dependent on how many participants you have, so the solution can cater for all sizes of business and small Plan Manager’s don’t need to outlay large financial sums in order to incorporate this technology in their business,” continued Mercorella.
Part of Plan Management that really benefits the community, is that it allows them greater control and choice versus Agency managed plans. Additionally Plan Managers are able to negotiate with support providers that aren’t necessarily registered, unlike those that are Agency managed. The role of a plan manager, as outlined by the NDIS, is to help pay providers, keep track of funds, and take care of financial reporting and in certain cases can provide guidance around providers – highlighting the benefits this role can really play in someone navigating the NDIS.
With the creation and development of technologies that assist with the much needed efficiency that the care community requires, a plan management tool, such as Lumary PM is going to be integral to businesses that want to succeed in this sector.
of NDIS participants are choosing Plan Managers to manage their plan
increase between the period of March 2017 and December 2018
participants can be effectively managed by an individual Plan Manager with Lumary PM
registered providers with numerous ways in which plans can be managed
Lumary provides an end to end workflow management tool for aged and disability care providers. It is an Australian designed-and-built software platform that integrates with tools such as Skedulo and Pendula. It brings together comprehensive NDIS stakeholder management and business workflow for the first time in a single workflow platform delivering agility, visibility and control.