Friday, August 12, 2022

Medtech startup Splose raises $1M for Allied Health workers to help more people on the NDIS

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Adelaide startup Splose has raised $1 million as it has an eye for international expansion for its healthcare practice management platform.

Launched in 2018 as a website developer specializing in the needs of allied health professionals, Sploe quickly identified the challenges providers faced as they sought to support participants and manage their obligations under the NDIS.

The startup then developed intuitive software to automate practice management, replacing the decade-old software used by many providers in the market. Splose features include billing automation with Xero, online forms and service agreements, tools for writing progress notes and reports, scheduling support, provider travel functionality, and more.

The South Australian government has invested $100,000 to develop the concept. Splose then quadrupled its market share within 12 months and is expected to have 10,000 monthly active users by the end of 2023. The company now has 10 employees who operate from Stone & Chalk on Lot Fourteen.

Nicholas Sanderson founded Splose while studying at the University of Adelaide, saying he wanted to concentrate on the parts of the NDIS it can address, such as: reducing wait times for support, as well as boosting cash flow so providers can attract more practitioners.

Splose saves a practice an average of 10 hours a week on administration, which works out to about $30,000 a year.

“Participants often wait months for admission to the NDIS. When participants are approved, we help providers streamline the process with automated online service agreement templates and case management tools to accurately allocate and maximize NDIS funding across the plan,” he said.

“Improving providers’ cash flow is imperative to retaining staff and supporting participants, so developing batch billing capabilities and automating bulk payment requests to the NDIA are some of our critical functions.”

On the Startup Daily show, Sanderson said the cash injection will provide enough runway for the next 18 months as the company begins to focus on its global strategy in addition to supporting the NDIS.

SA Minister of Industry, Innovation and Science, Dr. Susan Close, said: Splos identified an important gap in the market.

“Their product aims to simplify the administrative burden for both healthcare providers and patients receiving care,” she said.

“I congratulate Splose and company founder Nicholas Sanderson on their vision to create better systems for people receiving health and disability support services and for driving social and economic outcomes.”

Geelong Neuro Center in Victoria is a fan. Operations Manager Adam Coulter said so: a highly efficient, reliable and effective software platform for their business.

“The ability to easily track cases for any customer in Splose has enabled our customers, support coordinators, planners and team members to have up-to-date data related to funding,” he said.

“The cases combined with the ability to bill clients’ services over a time block have been well received by clients, especially self-managed or retail clients. It makes the paperwork they do at home with claims much easier to handle.”

Stone & Chalk Group CEO Michael Bromley said the NDIS more than 500,000 Australians with permanent and severe disabilities will grow by more than $4.5 billion to $44.6 billion over the next four years.

“By creating automation workflows and industry-specific features that make getting paid and reducing waiting lists, Splose will empower NDIS providers who use their software to support more people with disabilities and ultimately create efficiencies within the NDIS to make it sustainable going forward,” he said.

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