First aid for knee injuries PRICE. Price. There are five key steps to remember in case of an acute knee injury. Acute means sudden. P for Protect R for Rest I for Ice C for Compress E for Elevate These steps help to minimise swelling and inflammation. PROTECT Protect the knee with a splint, wheelchair, crutches or walking stick to help keep your weight off of it or prevent walking on it altogether. REST Take it easy. Get lots of rest to give the knee time to heal and prevent further.