The past few years have been spent dealing with the pandemic. No country was immune from its effects. We already knew that health is one of the most important aspects of our lives. The past few years have reiterated that with overwhelming impact. As hospitals started to get packed with patients, governments around the world went into overdrive to come up with solutions for the advancement of their healthcare sectors. In Australia, the government-supported relief efforts in various ways, one of which was the provision of healthcare grants. These grants were not restricted to hospitals and companies but were also made available for individuals and academic researchers.
In addition to population health being an important indicator of the quality of living, the healthcare industry in Australia is also the biggest employer. It is estimated that the industry will collectively be employing 2 million Australians by 2025. Employment rates took a hit during the pandemic and the healthcare industry is no exception. There are shortages of skilled staff, a lack of career progression which has invariably led to a lack of staff retention. The grants introduced by the Australian government also seek to fix these issues. By incentivizing employers through grants, the government is trying to help cover costs so that the healthcare industry does not have to lay off employees.
If you are looking to take advantage of any of these funding programs, you can get in touch with the experts at Grants Assist. The team at Grants Assist has been working with individuals and businesses for a long time and has helped them secure funding from the government. The internet is flush with information about these grants; however, the key is to know which grant is best for you. The experts at Grants Assist possess industry know-how which allows them to advise you effectively. They will help you select the grant that would cater to your needs and also assist you with the application process.
In this article, we would be going through some of the funding programmes that are being run by the Australian government in support of the healthcare industry. The applications for government grants are quite competitive because of limited spots and a high number of applicants.
Medical Research Future Fund
This fund was set up by the Australian government in 2015. It is particularly aimed at facilitating research and development in the medical field. Due to the concerted efforts of the government and the pandemic, the requisitioned funds have grown to $20 billion, as of July 2020. The MMRF is an ambitious project with a lofty mission. It is directly creating avenues that would lead to life-changing discoveries. Funding objectives are devised based on national priorities, to fill research gaps. The fund is also increasing the capacity of the biotech industry and creating employment in that sector. Through this fund, the government is investing in all stages of research. The government is also using it as a platform to build relationships with healthcare professionals, researchers, and the community.
There are four key research themes that the government will be focusing on through the 10-year life of the MMRF:
- Patients: through financing innovative treatments
- Researchers: make discoveries, develop skills, and progress careers
- Research Missions: funding big picture and capital-intensive projects
- Research Translation: incorporating research into the daily practice of GPs, specialists, and hospitals
Under this program, the government is running various grant opportunities, some of the upcoming grants include, Maternal Health and Healthy Lifestyles, Clinical Trials Activity, Brain Cancer Research, and Optimizing the Clinical Use of Immunoglobins.
Primary Care Development Program Transitional Support for AMDS
This grant has been specially designed to improve access to healthcare services after hours. This grant is only available for Approved Medical Deputising Services (AMDS). The beneficiary will be awarded a grant between $5,000 to $1,000,000. Through this grant, $4 million will be provided over the course of a year. These funds are to be used for business model redesign, AMDS call out and patient information system integration. The objectives of this grant include:
- Increasing effectiveness and efficiency of medical services
- Provision of AMDS after hours
- Integrating AMDS with general practice
- Facilitating efficient coordination of care for patients at risk of poor health outcomes
Please note, this grant is only available by invitation by the Department of Health.
Development Grants by the National Health and Medical Research Council
The National Health and Medical Research Council has initiated the Development Grants scheme to provide financial support to researchers or research teams that are pursuing medical research. These grants are available for the proof-of-concept stage and will be funding research that has tangible commercial outcomes within a specified timeframe.
Applications for this grant will open on 20 April 2022 and close on 15 June 2022. This program also includes a peer review process that will run from July to October 2022. To be eligible for this grant you need to be a part of an approved Administering Institution. The total amount available is $15,000,000.
National Health and Medical Research Council – European Union Collaborative Research Grant
This grant is being run in partnership with the European Union. This grant focuses on research that is of international importance. Funds are available for research into different topics, including, molecular and neurobiological understanding of mental health, indoor air quality and health, improved supportive, palliative, survivorship and end-of-life care of cancer patients, clinical validation of artificial intelligence, and personalized medicine and infectious diseases.
Applications will be approved based on a peer review process. This grant is only open to NHMRC approved Administering Institutions.
These are only some of the grants that are available for the healthcare industry. There are various institutions that are working to provide funding. These include the Department of Health, Australian Research Council, National Health and Medical Research Council. For more funding programs, you can get in touch with the offices of Grants Assist, who can inform you about upcoming opportunities.
Given the current situation, obtaining a healthcare grant has become even more difficult. If you are interested in obtaining a healthcare grant, then the agents at Grants Assist would be able to help you out. They will walk you through the entire process of obtaining a grant, including, selecting the right grant, preparing documents, writing an application, and depending on the grant, preparing you for interviews. With their extensive experience in the field, they will ensure that you secure government funding, despite the current competitive environment.
The Editorial Team at Healthcare Business Today is made up of skilled healthcare writers and experts, led by our managing editor, Daniel Casciato, who has over 25 years of experience in healthcare writing. Since 1998, we have produced compelling and informative content for numerous publications, establishing ourselves as a trusted resource for health and wellness information. We offer readers access to fresh health, medicine, science, and technology developments and the latest in patient news, emphasizing how these developments affect our lives.