Understanding Funding for Rural Telehealth Programs

by | May 23, 2024 | Blog

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6 Steps to Maximize Telehealth Funding Opportunities

The role of telehealth in rural healthcare is rapidly expanding, but a key component of this transformation is acquiring adequate funding. Fortunately, numerous grants are available to support providers serving small or rural communities. At AMD Global Telemedicine, we’re committed to helping you understand how funding for telehealth works, what kinds of telehealth grants are available, and how to apply for them—all essential next steps to set your organization up for success.

Telehealth can help overcome the many challenges unique to rural healthcare and bridge the care divide. That’s why understanding the available options and how best to prepare is essential to ensuring your organization is well-equipped to leverage telemedicine grants.

Here are six straightforward steps to guide you through the process and ensure you efficiently secure the funding you need.

1. Prepare for the grant application process.

Put your organization’s grant application process on the fast track to success by thoroughly preparing your team and systems well ahead of time. Start by assessing your organization’s readiness to apply for funding, ensuring you understand your business’s needs and the expectations of any team members dedicated to this process.

Organize and manage all necessary login credentials, particularly for portals like grants.gov and sam.gov, and ensure the responsible team members are accessible during application submissions. This organization and clarity will streamline your grant application process, improving your chances of securing funding for telehealth solutions.

2. Navigate funding sources and narrow your search.

There are hundreds, if not thousands, of sites from which you can explore and select funding sources. However, if you’re specifically looking for rural health, the Rural Health Information Hub is a great resource that will help you drill down into telehealth funding opportunities by topic, sponsoring agency, or state and find options that work for your organization’s needs. You can also sort by the types of grants that suit your needs, including competitive, discretionary, and capital grants.

3. Pick out key telehealth grants.

Below are examples of three forecasted funding sources for 2024. Please note that these projections are based on historical knowledge and are subject to change according to State and Federal guidelines. 

Remember to review various grants and select the one that best fits your funding needs and works with your funding timeline.  

4. Outline your specific organizational needs.

Once you have selected the telehealth grants that suit your organization’s current needs, you’re all set to start applying.

To successfully apply for funding, you’ll need a set of clearly defined goals based on your organizational needs. For example, if your business needs to gain more interactive telehealth technology methods for connecting with patients, including network setup and technical training, be ready to describe these needs in a compelling narrative. Connect your need for inside wiring to the larger need for interactive contact with physicians.

5. Plan your budget requirements.

Some grants (like RUS) are long-term and require extensive and detailed applications. Completing a thorough application will require time on the front end. Make sure you’re ready for this time investment and to take advantage of the fund’s opportunity. Remember, you don’t get extra credit for asking for less! Make sure you’re applying for the most money you can and the actual amount that will fully support your identified organizational needs.

6. Get ready to succeed with compliance.

The most successful applications will always match the need with the request. You need to show how this fund will enable you to build and deliver a service that adds to patient care in specific ways.

Successful applications also fulfill specific criteria around rurality and readiness while showing that they can ensure compliance in the long run. A grant application is essentially a contract; you are showing the lender that your organization understands the parameters and is ready to comply.

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Ready to Secure Your Own Telehealth Funding?

While the funding landscape may seem daunting, it’s important to remain proactive and apply for as much funding as possible. Telehealth grants are readily available and are just waiting for organizations like yours to demonstrate the capability and readiness to utilize these funds effectively.

At AMD Global Telemedicine, we partner with Solutionz to help you pinpoint funding opportunities tailored to your specific needs. Together, we provide insights to determine if your organization qualifies for “rural” status and guidance on the exact telehealth tech needed for the type of care you aim to deliver with your program.

Interested in learning more about grants to address rural patient care access? Watch our webinar.

Don’t hesitate to contact us and learn how we can help you navigate the telehealth funding roadmap.

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