This morning, I came across Kinora in my Facebook feed, and it immediately caught my attention. For those unfamiliar, Kinora is a marketplace designed for the NDIS community, enabling participants to find information and advice while allowing service providers to market their businesses for a monthly fee of $49. As we consider the implications of the proposed reforms and the emergence of new roles like the NDIS Navigator, a question worth contemplating is whether platforms like Kinora could be the solution for plan mangers?
Background Insight
FYI - Kinora is an asset of My Plan Manager, a Plan Management company that has received investment from IFM Investors (IFM). Last year, IFM successfully completed the sale of the company to Arthur J. Gallagher & Co. (Gallagher), an insurance company listed on the New York Stock Exchange (NYSE). Coincidentally, on the day Gallagher announced the completion of the acquisition, Minister Bill Shorten also delivered the NDIS Review outcome, which was broadcast on the ABC (watch it here.)
Navigating the Changes
Proposed reforms in the NDIS sphere signal a shift away from traditional plan management towards a new role dubbed the NDIS Navigator (Navigator). This role involves handling a wider range of tasks beyond financial management of a person's NDIS plan, which is the current focus of plan managers. Consequently, adapting to this change requires a significant overhaul of the business model for plan management companies, as both the revenue model and operational structure will be markedly different.
And that is no easy feat.
The My Plan Manager Advantage
For My Plan Manager, however, Kinora could be their strategic advantage.
As a marketplace for the NDIS community, Kinora already enables a wider array of interactions and services beyond basic transactional activities like invoice processing. It has cultivated an ecosystem that mirrors the broader responsibilities of Navigators. Leveraging this existing ecosystem, My Plan Manager may find it easier to transition into the new Navigator role.
The Broader Implications for Plan Management
If Kinora were the solution for the future of NDIS plan management, could smaller companies replicate My Plan Manager's approach? What additional considerations should they weigh?
To assess the costs of building a platform like Kinora, we consulted several software development firms. The results indicate that costs are manageable, opening the door for many plan management companies to pursue this avenue.
However, beyond build costs, other factors come into play. Will smaller companies have the resources to develop and maintain such a platform? And even if they can, will they be able to compete with established players like My Plan Manager and Kinora?
These questions become increasingly urgent for plan managers and service providers alike. It's a challenging time, but also one ripe with opportunities.
Conclusion
As the NDIS evolves, so too must our approaches to plan management. Kinora represents just one potential avenue for innovation and adaptation. By engaging with and learning from one another, we can navigate these changes not just with resilience, but with a vision for a more inclusive and accessible future for all NDIS participants.
Seeking Perspectives
We invite plan managers, NDIS service providers, and experts to share their thoughts on the evolving landscape of NDIS plan management:
How do you anticipate the proposed reforms impacting your role or business?
Do you view marketplaces like Kinora as viable strategies for future readiness?
What alternative strategies do you suggest for navigating this transition?
What opportunities do you foresee in this changing environment?
Your insights are invaluable as we adapt to these changes and work towards a more inclusive future for all NDIS participants.
About Zenify Investments
At Zenify Investments, we specialise in helping SMEs achieve accelerated growth through strategic mergers and acquisitions. As an SME owner or leader, you may not have the in-house expertise or time to evaluate these critical opportunities with the speed and precision they require. That’s where we come in. Zenify provides hands-on, expert support to ensure that every deal aligns with your long-term vision and growth strategy, whether you’re looking to acquire, merge, or restructure. Ready to explore your next growth opportunity? Contact us today to discuss how Zenify can help unlock new possibilities for your business.
Comentários