Wednesday, July 18, 2012

How To Get a Training Grant

In earlier posts, I advised that there are training grants to help you reduce the cost of the training component for your EMR conversion.  I shared the criteria to determine if you qualify to receive an Incumbent Worker (IWT)training grant.  I also provided information on costs that are eligible under the grant.

Now that you know the requirements of the IWT training grant, you're probably wondering what's the next step. So, let's talk about what you need to do to get started.

There are 2 major steps to consider:

1. Application Phase - This is the phase where you apply for the training grant. The state uses your application to determine if you qualify for an IWT grant award. The process of applying for the grant takes some time, but it is well worth the effort.

On your application, you will provide information related to your anticipated training, outcomes and the associated costs (both direct and indirect). You also will be required to provide documents to support that your company is financially stable and there are no outstanding taxes due to the state.

2. Payment Request Phase - This is the phase where you provide documents to support the eligible training and training costs. Since the grant is reimbursable, you will have to prove that the costs were paid prior to your payment request.

Likewise, you are required to provide evidence that your employees participated in the approved training(s). This process requires you to maintain good records of trainings and their associated costs and payments.

Do you want to know if you qualify for an IWT grant?  Give me a call at (850) 727-0293. I will provide you with a detailed checklist, which allows you to consider the criteria for approval. Then, we'll go to the next step.

Monday, July 16, 2012

How To Reduce Your EMR Training Costs by Up To 75%

In my last post, I told you about an opportunity to reduce the training component of your EMR conversion by up to 75%. The Incumbent Worker Training (IWT) grant is a resource that can be used by qualifying Florida businesses to help defray some of the costs associated with employee training.

This is exciting news! If you have already researched the cost to convert to the electronic system, you understand that this conversion process is not inexpensive. You cannot install a new software system without training your team on the best way to use it. The IWT grant can make big a difference in the type of training your staff receives.
Who is Eligible to Apply?

Now I understand the BIG question in your mind is "Do I qualify?" If you answer "Yes" to the following questions, you are eligible to apply for an IWT grant:
  • Are you a for-profit business?
  • Have you operated in Florida for at least one year?
  • Do you have at least one FT employee (other than owners)?
  • Will the training be completed within 12 months?
  • Are you current on Florida taxes?
What is Eligible?
The IWT grant will allow you to reduce your direct training costs by up to 75% (or $50,000). So that you'll be clear on what is eligible, I have included the following list:
  • Training fee from an outside vendor
  • Cost of employee-trainer
  • Cost of training materials
I'd like to warn you that these grant funds will not be available for long. This fiscal year, the State received $5 million dollars to fund this program. Of course, with the recent budget cuts, the funding for the upcoming fiscal year has been reduced to $2 million. What that means to you is: the sooner you apply, the better.

Stay tuned for information on what steps you need to take next....