Lakhasly

‏Sources Of Funding
‏Capital expenses, such as purchasing a magnetic (MRI) unit for the creation or expansion of the imaging department or the remodeling of a surgical, can be a huge.
‏Financial concern similar to the purchase of a new house. Outside financing will be required, and there are several options for securing funds

‏ A grant
‏Sources Of Funding
‏ ➢ Might be available from government and/or private sources of funding
‏➢ May be given with no recourse (monies do not have to be paid back) or with recourse (monies do
‏have to be paid back).
‏➢ This type of funding is not often available to for-profit facilities.
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‏In addition, grants are not exclusively for large organizations.
‏Opportunities for grant money will typically be offered across the board, based on the community's
‏need for the service or facility.

‏Sources Of Funding
‏➢ Grant applications are very much like business plans: they are extensive documents that will explain in specific detail:
‏✓ why the service or equipment is needed,
‏✓ what portion of the population will benefit most,
‏✓ and precisely how the money will be used.
‏➢ Failure to use grant monies in the manner and time frame accepted in the grant application may be considered fraud and may subject the individuals and facility to criminal investigation and possibly prosecution.
‏➢ When grant monies are pursued, most often the organization will hire a professional grant writer to
‏✓ handle the creation of the proposal,
‏✓ using their knowledge of the formatting required and the technicalities involved.

‏ Commercial loan
‏Sources Of Funding
‏ ➢ A loan provided by a bank.
‏➢ A standard commercial loan may be available for those facilities that maintain good relationships
‏with banks and other lending institutions.
‏➢ This enables the facility to borrow the money necessary to accomplish the expansion or purchase
‏of equipment and then pay it back interest.
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‏Private investment
‏• An individual endowing money to an individual or organization

‏Sources Of Funding
‏ • There are some government programs that have been created to help physicians and hospitals with the cost of providing state-of-the-art services.
‏• For example; as of March 2012, electronic health record (HER) program paid a $ 4.5 billion in incentive payments to more than 76.500 physicians and hospitals.
‏• The Ministry of Health (MOH) , in Saudi Arabia, seeks to achieve tangible progress on the e-health field through its strategies which launched at the beginning of 2011 within a relatively short timeframe at two phases: each one extends for five years, the matter of which only few countries managed to achieve it.

‏ Sources Of Funding
‏Private Investment and Endowments
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‏An individual endowing money to an individual or organization.
‏There are very wealthy individuals throughout the world who desire to make a private investment in small and medium size companies.
‏These investors are known as angles, and they prefer to find an organization that has great potential for growth.
‏In some case, their motivation for donating is to support a personal cause that they believe in or gratitude for excellent care.
‏Health care, being an industry of economic growth, innovations, and bright futures, is a very popular target for these individuals.
‏Certainly, this can be a one-time gift: however, a large version of a donation is can be make in manner that will provide funds now and in the future. One type of perpetual donation is known as an endowment.