Not only has COVID-19 had a devastating impact on human lives, but it has also created unique financial pressures for health systems. It’s estimated that U.S. hospitals and health systems lost more than $202 billion from March 1 to June 30th, 2020, and the financial impacts will be felt long term.
While telehealth has emerged as a critical way to care for patients during the pandemic, cash-strapped health systems may not have the funds available to grow these programs in 2021. Federal grants — many of which have increased due to COVID-19 — will provide a critical boost to the expansion and success of virtual care, and health systems should think strategically about how to leverage these grants for program expansion.
- Prepare your organization to apply for federal grants
- Assess federal funding opportunities and determine strategic fits
- Position your organization to react to time-sensitive funding opportunities