What are the key functions of a market steward?
The key functions that a market steward can undertake to improve the marketplace include
Monitoring: observing the NDIS marketplace and assessing whether it is achieving its outcomes. This will be greatly informed by the data being collected through day‑to‑day operation of the Scheme, which will increasingly use longitudinal data to understand market gaps, market/provider efficacy and to develop responses.
Facilitating: actions that directly influence demand in the NDIS marketplace and indirect actions to improve the functioning of the NDIS marketplace. This includes providing information, setting prices, and developing systems/infrastructure to support market transactions. In addition, facilitating supports diversity of supplier business models.
Commissioning: direct sourcing of supports or establishment of preferred provider arrangements supported by controls and “rules” that must be complied with to participate in the NDIS marketplace.
The NDIA is currently setting and regulating prices for services and supports under the NDIS. An "efficient price" is being used as a driver to build a competitive market for services and supports. Service providers cannot, for example, charge a "gap fee" between their cost and what the NDIA is prepared to pay for supports included in a person's plan. As the market matures, the NDIA will deregulate pricing with the intention to increase competition and stimulate innovation and evolution in the supply of services.
 Source - NDIA market Approach Statement