If you want to secure a grant to create a new telehealth program, you can take advantage of multiple opportunities, which we covered in a previous blog.
Now, we want to offer some recommendations for sustaining—and even expanding—your remote patient monitoring (RPM) program once your initial funding has been expended. Whether you’re searching for additional funding within your organization or seeking further grants, these tips could help you achieve your goals and keep your program on track.
- Have a sustainability plan in place when you submit your grant. The more you think ahead, the greater your chances of creating an RPM program that will last. Grantmakers want to know the programs they’re funding have an excellent chance of success. For example, in your original application, you can explain how your basic program model can be replicated and expanded into other departments, delivering benefits for multiple care settings and patient types.
- Highlight your positive results. If you can show that your RPM program is making a real impact—from reduced readmissions to better patient satisfaction scores—you’ll be in a much better position to argue your case for continuing the initiative. Be diligent about gathering data that demonstrates the effect the RPM program is having on your patient population. Testimonials from satisfied patients can also be used to promote your program and garner additional funding.
- Clearly detail program reimbursements. Track RPM reimbursements and use forecasts to show how the program can pay for itself and become profitable over time. You can also reveal how your RPM program lowered the cost of care by allowing patients to monitor their own healthcare status in the comfort of their homes.
- Communicate your expansion strategy. Once you’ve integrated telehealth into one or two services, you can begin to look at other departments that could benefit from your RPM program. These might include services like surgical post-op, congestive heart failure, pre- and partum care, orthopedics, oncology, and hospice.
- Establish that you’ve been a smart steward of your funding dollars. Program effectiveness and cost efficiency are key factors in any funding decision. Have you taken steps to ensure that you’ve optimized your grant money? Do you have examples of how you’ve shared resources with program partners to save on expenses? Have you used existing organizational assets to be more cost-conscious? Be sure to highlight these factors in your presentation.
Here's the key takeaway: even as you begin to implement your new RPM program, you need to be thinking down the road about ways to sustain it. At HRS, we offer skilled consultants who can help you plan for program success, track results and reimbursements, and secure funding for expansion.
Contact us today to find out more.