Funding Sources for Durable Medical Equipment (DME) – Part 2
Last month in part 1 of Funding Sources for Durable Medical Equipment, we covered the following options:
- Private Insurance/Medicare
- Veterans Benefits
There are many different approaches you can take toward financing durable medical equipment (DME). You can go the traditional route and get financing through bank loans and consumer leasing programs, but there are other methods to funding DME that can reduce, or possibly even eliminate, your out-of-pocket expenses.
Medical Non-Profit Associations
A sudden traumatic injury or illness can provide the patient and the patient caregiver’s specific funding options according to the nature of the illness or injury. For example, those who have suffered from paralysis due to a heart attack or stroke can reach out to the American Heart Association or the American Stroke Association. Here are a few of the other associations that might help with medical expenses if you qualify:
- Multiple Sclerosis Society
- Muscular Dystrophy Association
- Brain Injury Association of MA
- Make-A-Wish Foundation
Once you have a diagnosis or a clearly defined description of the condition see if there are any non-profit organizations or associations that provide financial support for those with the condition.
Federal Government Loans and Grant Programs
Several Federal Agencies offer government grants and low-interest loans to help you with your durable medical equipment expenses. For example, the US Department of Agriculture – Rural Development’s Section 504 Home Repair program provides: “loans to very-low-income homeowners to repair, improve or modernize their homes or grants to elderly very-low-income homeowners to remove health and safety hazards.” These are excellent funding sources for durable medical equipment that requires modifications to the home such as installing a permanent ramp or a Bruno stair lift. Do some research to see if any Federal Agencies have programs that meet your specific needs and offer financial assistance.
Local Foundations and Non-Profit Organizations
Grants that can be used to purchase durable medical equipment (DME) can often be found within the local community. Sometimes these organizations might sponsor a fundraiser or other type of event to help raise the funds to purchase the equipment or home modifications that you need. Do an internet search on your local community to see if any of these organizations have a grant program that you can apply for. A lot of times, these organizations are very helpful in guiding you through the application process and may even have suggestions about other organizations to contact for additional help.
Churches and Faith-Based Organizations
Help during times of great need may be closer than you think. Reach out to the church, synagogue, or mosque you attend and ask for help. They are great at coordinating resources and putting together fundraising events such as spaghetti dinners, auctions, rummage sales, and much more to assist with your durable medical equipment (DME) fundraising efforts.
Sometimes the biggest barrier to getting the help you need is to simply put yourself out there and ask for it. There are a lot of good people in the world who want to help make the world a better place. Don’t let your pride stop you from asking for the help you need.
Need Help Finding Funding for Durable Medical Equipment (DME)?
Complete our simple online contact form or call us at 508-802-4439 to reach out to a durable medical equipment (DME) funding expert for a free consultation.