Managing claims for the NDIS can be complex, time consuming and costly. You have to scour through multiple levels of administration and job tracking to investigate all details, and there’s always a risk of getting invoices wrong because a piece of information was missed.

Getting invoices wrong or simply failing to submit them in the right format can mean your business doesn’t get paid for the work you’ve done. Then there’s the time it takes to try to rectify errors and, often, you may never recover 100 per cent of your costs.

When information isn’t managed effectively, your staff will end up spending unnecessary but unavoidable time investigating. Most of this time is spent trying to navigate through databases. The longer the claim takes, the more costly it is to the business and the more your cash flow could suffer.

Gaining accuracy and completeness with IIM

While this challenge could seem overwhelming, it is actually surmountable. You can overcome claims challenges by using the right technology.

Storata has created an intelligent information management (IIM) solution powered by M-Files. It effectively organises the fragmented information in your business, making it easy to locate, manage and analyse. This information can then feed automatically into the invoice and claims processes, meaning your invoices and claims are always based on accurate and complete information. Furthermore, you can ensure your claims are in the right format when uploaded to the NDIS system, so there’s no delay in getting the payments you deserve.

The Storata IIM solution helps make finding and accessing files simple and instant. You don’t need to migrate your documents or save them anywhere special; the right solution will find all the relevant documents you possess, no matter where they reside or what format they’re in.

Then, by overlaying workflows that automatically move information from one point to the next, you can ensure that the right information is captured for invoicing and claims, and reduce the amount of manual intervention required to get claims finalised.

Benefits of IIM

• Faster claims processing so your cash flow remains consistent
  With all the information you need instantly at your fingertips, you can manage claims faster and with less manual work. That means you get paid sooner. And, because you can automate systems for streamlined claims, it also means you can submit them more often for more frequent payments.
• Better client service so your clients get the services they need
  To help your client, you need all the relevant information and you need it to be correct and up-to-date. An IIM system will provide contextual information about a person and will ensure that the documents that are surfaced in the search are the most recent. This means you can provide better recommendations for your clients so they can access the services that are most useful to them.
• Less re-work so staff can focus on clients instead of admin
  Duplicating data is an easy mistake to make and a harder one to fix. Without clear oversight of the information and documentation you have, it can be easy to duplicate information and even invoices. IIM analytics tools process duplicates to ensure there is only one file.
• Better insights so you can work more effectively on behalf of your clients
  An IIM system can provide invaluable analytics that reveal patterns and trends. You can use this information to make sure your clients are getting the best quality services that are most appropriate for their needs. If the data reveals a systemic barrier preventing your clients from accessing those services, you can work to break those barriers down.
• Improved compliance and risk management
  Working within the NDIS requires you to comply with complex requirements and legislation. IIM helps you maintain compliance documentation and ensure you’re ready for an audit any time. And, you can manage risks better. For example, complying with the Privacy Act means you need to know what information you possess about your clients and you need to keep it safe. When you aren’t aware of the information you have or where it’s stored, securing it can become more difficult. When you can see at a glance what information you possess about each client, you can make sure your security posture is appropriate to maintain their privacy.

When you can streamline the claims process and make it as efficient as possible, you can free up staff members to spend more time on client-facing activities, help more people at a lower cost, and work more effectively with the NDIA.

Storata partners with leading software vendor, M-Files, to deliver solutions designed specifically for NDIS providers. To find out how Storata can help your business achieve the benefits of a powerful IIM solution, contact us today.