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1 Dec 2022
Here at Splose, we think we’re pretty lucky. Every day, we get to build future-thinking practice management software that is improving healthcare delivery in Australia and beyond - one update after another.
But more than that, we are so grateful to have people who share our vision.
Today, we’re delighted to announce the outcome of a successful capital raise. Investors who share our vision of better healthcare delivery have pitched $1 million AUD so we can put Splose into more hands and more practices. Read on for our full media release.
Nearly 2000 users have made the switch to Splose – find out why by starting your free trial here.
CEO and Founder
Adelaide 2 August: Splose today announced that it has raised AU$1 million in capital to fund its forecasted growth over the next 18 months.
Launched in 2018 as a website developer specialising in the needs of Allied Health professionals, Splose quickly identified the challenges providers faced while trying to support participants and manage their obligations under the NDIS.
Splose developed modern and intuitive software to automate practice management, replacing the decade-old software used by many providers in the market, and empowering Allied Health providers to give better and more effective care to those in need.
On the back of $100,000 in South Australian Government support, Splose quadrupled its market share within the last year and with its current growth rate, it is projected to have 10,000 monthly active users by the end of 2023.
Founded by entrepreneur Nicholas Sanderson while a student at the University of Adelaide, Splose now has ten dedicated staff operating from Stone & Chalk at the Lot Fourteen innovation district. Nicholas was awarded the First National Real Estate Innovation Award in the 2022 7NEWS Young Achiever SA Awards in recognition of his innovative contribution to improving healthcare delivery.
Nicholas said Splose's focus is on the parts of the NDIS it can control, including reducing participant wait times for supports by making providers more efficient, and boosting cash flow so providers can bring on more practitioners.
“Participants often spend months waiting to get approved into the NDIS. When participants get approved, we help providers streamline the process with automated online service agreement templates and case management tools to accurately allocate and maximise NDIS funding over the plan.
“Improving provider cash flow is imperative to retain staff and support participants, so developing batch invoicing capabilities and automating bulk payment requests to the NDIA are some of our critical features.”
Minister for Industry, Innovation and Science Dr Susan Close MP said she is pleased the South Australian Government is supporting local start-ups.
“Splose identified a key gap in the market, and their product is set to simplify the administrative burden for both healthcare providers and patients receiving care,” Minister Close said.
“I congratulate Splose and company founder Nicholas Sanderson on their vision to create better systems for people receiving allied health and disability support services and for driving social and economic outcomes.”
Adam Coulter, Co-Director and Operations Manager of Geelong Neuro Centre in Melbourne, said Splose has proved to be an ultra-efficient, reliable and effective software platform for their business.
“The ability to easily track cases for each client in Splose has enabled our clients, support coordinators, planners and team members to have up-to-date data relating to funding. The cases paired with the ability to batch invoice clients' services over a block of time have been well received by clients, particularly Self-managed or private clients. It makes the paperwork they do at home with claims much easier to handle.”
Michael Bromley, CEO of the Stone & Chalk Group, said technology, innovation and advancement are integral to delivering the NDIS sustainably into the future.
“The NDIS will provide $33.9 billion to over 500,000 Australians who have permanent and significant disabilities in 2022-23, growing to $44.6 billion in four years.
“By creating automation workflows and industry-specific features that improve getting paid and reducing waitlists, Splose will empower NDIS providers who use their software to support more people living with a disability and ultimately create efficiencies within the NDIS to make it sustainable into the future."
Splose’s innovative functions include invoicing automation with Xero, online forms and service agreements, progress note and report writing tools, scheduling supports, provider travel functionality and more. Splose saves a practice 10 hours per week on average in administration or $30,000 per year.
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