Payment management market analysis
- Mikehuttonsquire (Unlicensed)
Provider | Service description | Strengths/Weaknesses | Pricing |
Lantern Pay | Specifically designed for Plan Managers to integrate their software into their payment sysmte. "Built, hosted and supported 24/7 by NDIS technology leader LanternPay, Plan Manager: Connect is a suite of Application Programming Interfaces (API’s) designed to streamline plan management businesses. Connect your software solution seamlessly to the NDIA to make, edit and retrieve Service Bookings, upload claims, download results and more." From <https://www.lanternpay.com/ndis-software > Parent company is InLoop who own other ordering solutions such as Flexischools. Bought by NAB. Seems as if it will be handed to the bank to operate. Could create a market for a new entrant. Westpac had, at one point, held a strategic stake in LanternPay. The recent deals could put ANZ and Westpac on the backfoot in terms of offering banking services to the healthcare sector, which is the fifth-largest contributor to Australia’s GDP. BIGGEST RISK: The National Disability Insurance Scheme is tendering for a “claims at point of support system to improve how participants make claims, and how providers get paid” https://www.ndis.gov.au/news/7129-making-ndis-payments-easier
| Next day payment
Integrated into the Clickability directory Deep feature capabilities built Integrated into >50 CRMs On the Disability digital advisory committee (ear of government)
I would think they are likely to win the NDIS payment tender if it goes ahead.
| We offer flexible pricing options for NDIS software, starting on a per-participant, per-month basis to align with market practice. Contact us for a quote!
From <https://www.lanternpay.com/ndis-software >
No set up or hidden admin fees. No monthly fees or lock-in contract. Pay a low percentage of each successful claim. Only pay fees on claims that have been approved and paid.
From <https://www.lanternpay.com/pricing >
1.45% for TAC No pricing for NDIS provided |
ACSSHealth also HealthPay (owned by ANZ)
| BILLING SOFTWARE FOR ALL HEALTHCARE PROVIDERS Submit your Medicare, Veterans or ECLIPSE claims with eClaimsTB. From <https://au.acsshealth.com/ > In 2017 ACSS Health, was the recipient of the Frost & Sullivan Award for Australia Medical Billing & Practice Management New Product Innovation. | Do not offer NDIS claiming | $200 set up 0.5% on all paid claims or $30, whichever is higher that month + GST From <https://eclaimstb.acsshealth.com/pricing/ >
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MYP Perform | NDIS manager + schedule of support + service agreement + invoicing + portal uploads + client dashboard + rostering integration + accounting software integration + much more (additional monthly fee applies per plan managed client) From <https://marketplace.mypcorp.com/Marketplace> Uses LanternPay for Claims processing | Full CRM solution for participant management
Not really focussed on payments
Large company >100 staff. | $30 pp / month |
Plan Partners
(and other existing plan managers) | How we get your invoices paid Plan Partners can help you get your invoices paid as quickly as within 4 business days.* Exact payment times depend on: how you choose to submit your invoice: through our Fast Payment System (within 4 business days) or via email (within 7 business days)* approval of the invoice by the NDIA your chosen payment method: credit card or EFT The graph below describes the invoice payment process step by step. *Step 2 is fast-tracked when using our Fast Payment System, allowing you to be paid within 4 business days. From <https://planpartners.com.au/knowledge/articles/invoices-paid-faster-and-easier >
If you submit your invoice online using our Fast Payment System, it can be paid within 4 business days*. Available via your Plan Partners Service Provider Dashboard - also available as an App, the Fast Payment System is an easy online tool that: Makes it easier and faster to create and send your invoices Provides handy online features to help you look up NDIS items, select your customers and generate a valid invoice number Immediately confirms that your invoice has been successfully submitted. You’ll know instantly if your invoice complies with NDIS requirements and is ready for submission to the NDIS for approval. Allows you to download a copy of your invoice for your own records Lets you track the progress of payment of your invoice in your Dashboard immediately after submitting it. From <https://planpartners.com.au/knowledge/articles/invoices-paid-faster-and-easier > My Plan Manager pays within 3 days. | Strengths: Already operating service
Weakness: Turnaround time would indicate manual processing. Possible high cost of servicing invoices. | No cost for payment processing. Recovered through plan management fees. |
Shiftcare | Full stack CRM and payment processing solution
| Small company - challenger brand
| $15pppm |
Medipass | NAB used to own Medipass, now owned by Tyro.
Planning on building a NDIS claiming system. | Dont seem to have a current solution. Planning on competing in the tender for the NDIS claim management system. | Free Claims 0¢ Medipass does not charge a fee for Medipass Free Claims
From <https://medipass.com.au/pricing >
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