National NDIS Review Conference
This conversation is between Devinder Singh, B.Eng, MBA. and Michael Bink at Chief Operating Officer, discusses the challenges and strategies related to the care economy, particularly in the disability sector. The discussion revolves around the intersection of innovation, data, and public policy advocacy. Here’s a breakdown of the key points:
1- Innovation and Sector-Focused Activity: -Innovation is seen as a sector-focused activity, primarily the responsibility of organizations to discover and implement new ways of providing care.
-Michael Bink believes that seeking government support for innovation is not necessary, and service providers should take the initiative themselves.
2- Driving Public Policy through Data: -The organization has accumulated a significant amount of data, providing insights into the operations of service providers that the government may not have access to.
-He emphasizes the role of evidence-informed policy and how the organization uses data to support policy development.
3- Challenges in Operating Margins: -The NDIA’s operating margin assumption is 2%, but a significant percentage of benchmarking organizations are incurring losses, making the operating margin figure less meaningful in this context. -He highlights the discrepancy between the NDIA’s assumptions and the financial reality faced by many service providers.
4- Financial Challenges in the Disability Sector: -A significant percentage of organizations, even among the most efficient, struggle to meet the 12.5% corporate overhead cost target set by the NDIA.
-Many organizations are operating with a gap between the target and the actual corporate overhead costs, leading to financial challenges.
Overall, they delves into the practical challenges faced by service providers in the care economy, especially in the disability sector, and emphasizes the role of data-driven insights in shaping effective public policies.
Join us our next conversation, National NDIS Review Conference at Parliament House on 22nd March 2024 https://lnkd.in/dYB6XQjV