By Amber Walker, Grants Development Associate (Healthcare & Human Services)
Hospitals and health systems of all sizes know that securing grant funding can be a crucial part of the ongoing growth of their organization. Healthcare needs are evolving, and securing financial support from foundations can help providers address those changing needs. Understanding the different funding avenues, the strategies needed to secure them, and the types of projects that attract funding can significantly improve the chances of receiving grant support.
Foundations are local, regional, or national in scope, often with different priorities, criteria, and grant award processes. Hospitals and healthcare systems seeking funding must carefully evaluate which foundations align with their goals, whether it is expanding direct services, investing in infrastructure, cyber security, medical research, or enhancing workforce development.
Common Grant Funders
Local foundations are usually more accessible than regional or national funders due to their proximity and focus on the community they serve. Local foundations tend to prioritize funding projects that directly benefit their specific geographic area. Local foundations are familiar with the specific needs of the community, making it easier for healthcare organizations to relay their urgent needs. While local foundations focus on more geographically restricted areas, regional and national foundations often provide broader opportunities. However, hospitals and healthcare systems seeking funding from these sources may have to demonstrate how their projects or programs could have implications for healthcare delivery on a larger scale. They may want to know how the initiative aligns with trends or needs in healthcare across multiple communities or regions. Additionally, providing data on the replicability and scalability of the program may be required. By framing their needs in terms that resonate on a systemic scale, healthcare organizations can make a compelling case for regional and national funders.
Tips to Secure Foundation Funding
The key to securing foundation funding lies in knowing your community’s needs and crafting a compelling narrative that aligns with those needs. Several tools can aid in gathering relevant data to strengthen your proposal. Additionally, a well-crafted proposal should highlight your healthcare system’s unique characteristics. For example, a hospital located in a rural area or a teaching hospital may have distinct advantages in workforce development funding.
- Health Professional Shortage Area and Medically Underserved Area Search Tools: These tools can help identify areas with shortages of healthcare and areas where people experience barriers to care.
- Rural Grant Eligibility Search Tool: This tool is useful for healthcare systems operating in rural areas to determine if they are eligible for specific grants designed to address rural healthcare challenges.
- Census Data: Demographic and socioeconomic data from the Census can provide insights into the needs of specific populations, This can help tailor the proposal by providing that additional insight.
- Local Health System Data: Hospitals and health systems should leverage internal data to demonstrate the current state of healthcare services in their region and how the proposed project would address existing gaps.
Many foundations have rolling application deadlines, and others stagger their grant programs throughout the year, which means it is always a good time to be on the lookout for your next funding opportunity. Developing strong relationships with local foundations is a good starting point, as these organizations are often more familiar with community needs and more willing to fund smaller, hyper-local initiatives. Larger national foundations, however, may have a broader scope and focus on systemic changes that can influence healthcare delivery on a much larger scale.
Securing foundation funding for healthcare systems is a process that requires careful planning and a deep understanding of community needs and your organizational capacity to address them. Crafting a compelling proposal that demonstrates a clear understanding of community needs, aligning with foundation priorities, and using data-driven narratives are key strategies in securing successful grant funding. Whether you are focused on capital improvements, workforce development, or service expansion, the right funding opportunity can significantly enhance your hospital or healthcare system’s ability to thrive.