Federal Grant Options for Medical Practices
by Sonda Eunus, MHA, CMPE
Yes, your medical practice can apply for federal grants. Contrary to popular opinion, federal grants are not just for non-profit organizations or natural disaster relief.
The federal government actually allocates generous sums of funding for project proposals that can help advance great causes, and especially in healthcare. They are seeking leaders who care enough to make a difference beyond their regular call of duty.
For the healthcare industry, these projects include, but are not limited to, medical research for better understanding and earlier diagnosis of various diseases, the development of new treatments, prevention protocols, medications, and technology, closing the gap in racial and socioeconomic healthcare disparities, as well as the expansion of new medical centers and other healthcare resources into rural areas as well as to underserved populations.
These funds are not free money for you to use to grow your practice - they need to be well-budgeted and accounted for and spent on eligible expenses as defined by each specific grant. You will need to report your spendings and edit your projected budget if any of your expenses change from what you had originally expected them to be.
The projects require time, planning, as well as dedicated staff who will be responsible for leading the project or participating in its implementation in any way, as well as doing ongoing reporting to make sure that you are meeting all grant requirements. Many grants allow you to add salaries for the employees who will be involved in the project into your budget, on a FTE basis depending on how much of their time will be spent working directly on the grant project.
Preparing a project proposal may seem daunting, especially when you have to read 50-100 pages of proposal requirements. However, it is not as complicated as it seems. Although each grant has its own specific requirements that they look for when evaluating applications, here is a good start for most project proposals:
● Why YOU? If you truly believe in the cause that you are applying to help forward, you just need to speak from the heart - nothing drives action like passion. Additionally, you need to show that you, or your team, have the relevant knowledge, experience, and expertise to successfully implement the project and bring about the desired outcomes.
● Proof of Need: Next, you need to back up your passion and dedication to the cause with relevant and accurate data that shows that there is an urgent need for this project in the community that you are looking to serve. Proposals that have the potential to serve the most people are generally preferred.
● Detailed Plan: You need to clearly define the actions and timeframe that you plan to implement in order to achieve your desired outcomes. You need to know who will be involved in what task, what equipment or supplies will be needed, how the process will work, what contractors you may need to hire, what permits you may need to obtain, etc. You want your proposal to show that you have thought of everything and are ready to properly implement the project.
● Budget: Each grant is different as far as the funds that it can award to each applicant. Some grants can only fund 1 project, other grants can fund multiple or unlimited projects on an ongoing basis. Some funds will have award ceilings, which are the maximum amount that you can receive, others will award you funds based on your project’s scope and requested funds.
● Additional Documentation: Some grants will ask for additional documentation, such as letters of recommendation, letters of support from the local government or other regulatory bodies, aerial maps of your facility, etc. For this reason, you want to make sure that you read the instructions for the grant that you plan to apply to well in advance of its submission deadline, so that you have enough time to prepare and request any necessary documentation.
You can apply to most grants online, on platforms such as www.grants.gov. There are also grants that accept mailed applications, but make sure to read the instructions before submitting because you want to make sure that you stick to each grant’s specific requirements, or your application may be rejected based on a technicality.
Applicants must have a Unique Entity Identifier (UEI) and maintain an active System for Award Management (SAM) registration throughout the application and project award period. You can obtain a UEI and SAM registration at: http://www.sam.gov. Make sure to apply in advance as it usually takes a business day or two to get approved.
Sonda Eunus, MHA, CMPE
Sonda is a Marketing Expert with a passion for the Healthcare industry. The daughter of two Physicians, Sonda has been involved in Medical Practice Management from an early age and holds a Master’s degree in Healthcare Management.
Learn more about Sonda at www.sonda-eunus.com.