Benefits of Grant Writing and Grant Identification for your Organization

Dec 20, 2021

Benefits of Grant Writing and Grant Identification for your Organization

Grant writing and grant identification are important for healthcare industries and billing because grants provide federal money to further research in the field, help fund programs, support new technology, support education programs necessary to attain licensure within the field, and much more.

The health industry is an ever-changing landscape that requires constant innovation to be able to provide proper care and treatment in a timely and effective manner. Grants provide the essential funds to allow both new practices and continued work in established programs to continue throughout their lifespan.

In addition, federal money is not always available through tax revenue or other means that may be easier for government officials to “tap into”. Federal grant opportunities are often much more competitive than alternative methods of accessing funds.

In order to ensure that a health care facility or other organization is able to apply for federal financial assistance, knowing where to look and what grants may be available is essential. Also, being able to identify those grants from among the thousands of options available can be a very time-consuming task. Many organizations have benefited from hiring professionals to assist with grant identification and writing. The cost of hiring a professional is typically offset by the increased chances of receiving federal funding and other benefits that can be attained through grant programs.

Additionally, grants are often used as a method to repay or reimburse funds previously borrowed from state or local agencies or organizations, making them very popular within the healthcare industry.

Types of Grants for your Business

Healthcare Grants – Several grants are available through the Health Resources and Services Administration (HRSA) of the US Department of Health and Human Services. These grants are meant to provide funding for healthcare professionals, technicians, new employees, interns, students, patients and more. These grants often occur on a local level as well as on the national level and can be applied for by an organization or medical professional.

See: Grants for Musculoskeletal Care – This grant is meant to provide funding, training, and research that will help advance musculoskeletal medicine and science. The purpose of the grant is to provide support for graduate students who are enrolled in programs that can help them become better healthcare professionals.

See: Grants for Service Areas – The HRSA offers support in the area of health professions and nursing through a program called SAC or Service Area Competition. This grant is meant to increase the number of under-served communities that are able to access federal funds aimed at improving their standard of living and quality of health.

See: Grants for Health Centers
– HRSA offers many grants to support the proper maintenance and operation of a community health center. These funds are often allocated based on a geographical area as opposed to an individual facility or organization, but may be available on a more local level as well.

See: Grants for Education and Training Programs – Grants and scholarships are available through the HRSA that may be used to support education and training programs for individuals interested in becoming healthcare providers.

See: Grants for Small Businesses – The Economic Development Administration (EDA) is a branch of the US Department of Commerce that provides funding via federal grants and other economic tools to support small businesses. While these grants are not typically aimed at providing funds for healthcare infrastructure, many small businesses do provide products and services that directly support a medical facility.

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